Nepal blames political transition for delay in passing AML Bills

Nepal blamed the political transition for delay in passing the three key Bills that are crucial in fighting against the flow of dirty money.
During the face-to-face meeting today in New Delhi, the Nepali delegation also appraised the current status of the Nepal on fulfilling the international commitment in fighting Money Laundering.
"We tried to convey the political transition for not being able to pass those Bills," said central bank deputy governor Maha Prasad Adhikari from New Delhi. But the Asia Pacific Group (APG) –  the regional member of Financial Action Task Force – meeting asked Nepal to fulfill its commitment as soon as possible to escape blacklisting in June.

The three key Bills — Mutual Legal Assistance Bill, Extradition Bill and Bill Against Organised Crime — that are among the major commitments to the Financial Action Task Force (FATF) are still under the Parliament.
The inter-governmental body FATF had extended time period for Nepal to fulfill its commitment due to international lobbying in Paris meeting in February. But the ruling party UCPN-Maoits's intra-party rift has delayed the passing of the Bills by now.
Nepal has been repeatedly failing to fulfill its international commitment on passing the three Bills that will give legal teeth to the UN conventions on Anti Money Laundering that the parliament has already ratified.
Nepal presented the current status of the Bills and other moves by the  government and the central bank on fighting against the flow of dirty money during the face-to-face meeting that will recommend the country's status either to be upgraded or downgraded in the plenary that will take the decision on Nepal’s fate next month.