Kathmandu. Chairman of Securities Board of Nepal Santosh Narayan Shrestha has said that the company would work cautiously as a regulator of the capital market to bring Nepal out of the grey list of asset purification. In his address to the 33rd anniversary celebrations of the Securities Board of Nepal on Sunday, Chairman Shrestha pledged not to allow the capital market to be used as a place to purify assets.
He expressed commitment that the Board would work on the government’s plan to bring Nepal out of the grey list due to poor compliance of the provisions related to AML-CFT. “The Finance Minister has directed the Securities Market Board to monitor the institutions by making special indicators for the government’s initiative in line with the government’s goal of getting out of the grey list within a year,” he said.
Chairman Shrestha said that risk-based supervision has been carried out and action is also taken against the damaged organizations. Chairman Shrestha said that he was working for the sustainable development of the capital market.
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