Nepal will exit FATF 'grey list' within timeframe: Finance Minister Paudel

KATHMANDU: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said the government will remove Nepal from the Financial Action Task Force (FATF) 'grey list' within the specified timeframe.

This statement follows the inclusion of Nepal in the FATF 'grey list', a categorisation by the global watchdog for money laundering and terrorist financing. "We are in this situation due to our failure to meet the criteria within the set time," Finance Minister Paudel admitted. He expressed optimism that Nepal will be able to exit the 'grey list' by implementing effective measures to meet the criteria outlined in the Action Plan from the recent FATF meeting in Paris.

The FATF sets international standards to prevent illegal activities and mitigate their harmful impacts.