Kathmandu. Lately, remittances have been on the rise. Remittance inflow has increased by 13.2 percent in the 10 months of the current fiscal year.
According to nrb data, remittance surged to Rs 1,356.61 billion during the period. Remittances worth Rs 165.30 billion have been received in the month of April alone.
With the increase in the size of remittances, questions have been raised about whether it is legal remittance or illegal remittance. According to sources in the Department of Asset Improvement, the remuneration of some Nepalis working abroad has been found to be unnatural. An investigation is underway to find out whether the money sent by such individuals will go to the concerned family or elsewhere.
Some time ago, Nepali Congress leader Dr. Shekhar Koirala had alleged that the middlemen were manipulating to make their own people the governor of the Rastra Bank to bring black money to Nepal from abroad. Leader Koirala suspected that illegal money was coming in the name of remittance and that was the reason why the appointment of the governor was also being manipulated.
Nepali Congress President Sher Bahadur Deuba and CPN(UML) Chairman KP Sharma Oli have been locked in a bitter battle for the appointment of a new governor. There was a lot of criticism over the manipulation in the appointment of the governor after the Rastra Bank did not get a new governor even after 54 days of the end of the former governor’s term.
Congress leader Dr. On the issue of governor’s appointment, Koirala had said, “What is the amount coming in the name of remittance? It was time for the government to study. “Nepal is on the grey list of the Financial Action Task Force and the government should be serious about it. ”
He suspected that illegal money was entering Nepal in the name of remittance, saying that the remittance was not possible even after sending people going for foreign employment in the recent past.
He also alleged that the country was on the ‘grey list’ but the government was trying to please the middlemen instead of planning to bring them out of there.
Dr. Koirala had said with apprehension, “I started to fear, has there been any such manipulation in the appointment of the Governor of the Rastra Bank? My concern is there, I can’t say, I don’t know about the Rastra Bank. Talking to the Chairman, there will be a good person, ‘You have assured that there will be a Democrat.’ I’m sure of that. I am sure. However, thinking about this, there is a concern that there is nothing wrong with it. ”
Similarly, Chief Commissioner of the Commission for the Investigation of Abuse of Authority Prem Kumar Rai had also said that black money was coming in in the name of remittance s from different countries. He said that the government did not want to return the property hidden in Singapore, America and Europe to Nepal after earning from corruption.
Chief Commissioner Rai had said, “We are still not in a position to bring the money from Singapore, America and Europe. You have to help in this. Singapore said it would send money for corruption, but the government did not move forward. Although the task force has been formed, the work is not being done. ”
Chief Commissioner Rai said that corruption is no longer limited to the country but has been internationalized. He claimed that the number of non-resident citizens involved in corruption is significant. He alleged that non-resident citizens have become the root cause of bringing black money in the name of corruption and remittances.
‘The nation says you’re monitoring micro-monitoring‘
Nepal Rastra Bank (NRB) spokesperson Kiran Pandit, however, said necessary infrastructure was being created to minimize the possibility of black money entering the country through remittances.
Talking to Singha Durbar, he said, “In the recent past, initiatives are being taken to bring remittance through legal means through the steps taken by The Nepal Rastra Bank. Remittances can be easily sent through banks and digital wallets. It is our understanding that we are receiving remittances in an encouraging manner in the banking sector. ”
Spokesperson Pandit stressed the need to assess the risk of money laundering, cyber risks and misuse of legitimate platforms to reduce the flow of black money through remittances.
“What kind of customers are we serving with our licenses and licenses to deal with the risks of money laundering? What kind of business relationship are we having? The existing provisions have to be fulfilled. It is binding. All customer identification risks should be assessed. ”
Cyber risks and cyber risks need to be watchful in terms of whether someone misuses legitimate platforms and cyber risks need to be monitored more, he said. According to him, it is also the initiative of the Rastra Bank that remittances should be brought in legally.
While the increase in remittances has sent positive signals to increase foreign exchange reserves, experts are concerned that the risk of black money being included in the economy is increasing.
प्रतिक्रिया दिनुहोस्