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Finance Minister Rameshwor Prasad Khanal has said that it is the shared responsibility of all stakeholders and authorities to work toward removing Nepal from the Financial Action Task Force (FATF) Gray List related to money laundering issues.

Speaking at a program organized to mark the National Anti- Money Laundering Day - 2082 BS , themed “Money Laundering Prevention: Transparency and Fiscal Discipline,” the minister stressed the need to create a solid foundation for Nepal’s removal from the Gray List within a year by completing all required reform measures.

He said that the economic reform initiatives undertaken by the government are not driven by pressure or compulsion from the international community. Rather, the efforts aim to build corruption-free institutions, promote transparency and good governance, and strengthen the national economy.

According to the minister, initiatives to prevent money laundering do not impose additional economic burdens or unnecessary costs on the country. 

He argued that the lower-than-expected inflow of foreign investment is due to weak confidence in Nepal’s financial system, underscoring the need to create an investment-friendly environment through reforms.

Expressing hope that the reform efforts would be completed by the end of 2026, the minister also called for greater effectiveness in investigation, prosecution, and action in money laundering cases. 

He stressed that cases should be prepared with strong evidence and provisions for the prompt seizure of property.

The minister also raised concerns about transparency issues not only in the financial market but also in the capital market. 

He said that a provision mandating the use of the banking system for corporate transactions exceeding Rs 500,000 thereby putting a ceiling on the cash transactions has been in effect since January 15.

However, he clarified that despite concerns raised by the private sector, the ceiling on cash transactions would not be increased.

The report of the election of the National Assembly held on January 25 has been submitted to President Ram Chandra Paudel.

Officiating Chief Election Commissioner Ram Prasad Bhandari presented the report to the President at a ceremony held at the Rastrapati Bhawan, Shital Niwas today.

High officials including the Commission's two commissioners Sagun Shamsher JBR and Dr Janaki Kumari Tuladhar, and Secretary Krishna Bahadur Raut were present on the occasion.

With 36 days left to go for voting in the elections to the House of Representatives (HoR), the Election Commission has assigned the officers for monitoring the election code of conduct. 

EC Spokesperson Narayan Prsad Bhattarai informed that assistant chief district officer in each district has been assigned to monitor the enforcement of election code of conduct in a bid to ensure free and fair elections to HoR scheduled for March 5. 

The assistant chief district officer is given such responsibility except financial aspect. 

The officers from comptrollers' office are named as election monitors to look after the financial issues.

The election code of conduct is in force since January 18. 

The Election Commission (EC) has sought clarification from the election candidates and political parties for violation of the election code of conduct.

The candidates and political parties sought clarification are Januka Pathak (Shova Pathak) of the Jana Sewa Party, same party candidate Kamal Bhusal (Dr Nicholas), and the Shram Sanskriti Party. 

Pathak violated election code by spreading hate speech and Sanskriti Party by using children in election campaigns- donning them in t-shirts with party logo and flags.

Rastriya Swatantra Party (RSP) candidate Balendra Shah was sought clarification over his social media response to a post by UML chairman relating to public debate.

Even some institutions and schools are asked why they violated election code. 

Various provisions of the Election Code were drawn for seeking clarification.