Despite opposition from the UCPN-Maoist, the parliament today
approved the long due Anti-Money Laundering Ordinance.
The hardline communist party has been blamed of amessing huge
wealth through illegal means, has been opposing the ordinance before too. A
UCPN-Maoist lawmaker Ram Narayan Bidari filed a complaint – on behalf of his
party – claiming that the Ordinance intends to target his party. However, the Ordinance,
earlier in the parliament, was tabled by the the Prime Minister Dr Baburam
Bhattarai as it was necessary to approve the Bill to fulfill the country's international
commitment against the free flow of dirty money.
The Mohan Baidya-led breakaway faction of UCPN-Maoist fear that
the Act might to used against them.
The international community, especially the Financial Action Task
Force (FATF) – a global anti-money laundering body whose threats forced the
government to act – has been keeping hawk's eye vigil on Nepal as it has failed
to approve the anti-money laundering acts to combat flow of dirty money.
President Dr Ram Baran Yadav
had recently approved two ordinances, Second Amendment to the Anti-Money
Laundering Act (2008) and Proceed of Crimes Ordinances to save the country from
being blacklisted by the FATF.
1 comment:
Great work… Thank you for this article, so much useful information!
Trehan Delight Bhiwadi
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