सिंहदरबार संवाददाता
Kathmandu. After the Financial Task Force (FATF) blacklisted the country, the National Bank has increased its surveillance on vehicle purchases. The National Bank has issued a circular to the hire purchase companies that provide vehicle loans, tightening customer due diligence.
The circular has made new provisions regarding the identification of listed persons. In which, it is mentioned that ‘the list published pursuant to Chapter 6 B of the Act and the list of persons, groups or organizations provided by the Ministry of Home Affairs through various means or any person, group or organization related to it shall be regularly verified and action shall be taken as per the order’. Now, the Ministry of Home Affairs will not allow people who are murderers, absconders, those facing cases of money laundering, or those who have business relations with those who steal and abuse in society to take out car loans.
The National Bank had earlier issued a circular to hire purchase companies, making it illegal to purchase and drive a car in someone else’s name.
Similarly, it has been made possible to give car loans on the basis of national identity card instead of citizenship. Companies will also have to classify high-ranking individuals in a new way. While classifying high-ranking persons, the company shall distinguish between high-ranking persons holding office, high-ranking persons not holding office, foreign high-ranking persons from neighboring or nearby countries, other foreign high-ranking persons, and high-ranking persons from international organizations.
The company shall use the information received from the customer and the mechanism established in accordance with point no. (1) to determine whether its customer is a family member or close relative of a high-ranking person. If the company encounters a suspicious person, it shall submit a report to the National Bank. If an organization is required to send details of the immediate family or close relative of the enforcement officer of such organization when sending a suspicious transaction report, arrangements must be made for the report to be sent by an officer other than the enforcement officer.
While appointing an enforcement officer, the company must ensure that the officer or senior management employee of the relevant regulatory body is not an immediate family or close relative.
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