Kathmandu,
Sept. 16: Chairman of the Securities Board of Nepal Dr. Rewat Bahadur Karki
said on Sunday that the capital market regulator would make the market supervision
result-oriented in the days to come.
“We have
given special focus to anti-money laundering efforts in the capital market.
Some traders have been punished, and Know Your Customers form has been updated
in order to discourage money laundering activities in the business,” he said
while speaking at an interaction on ‘Role of securities brokers in anti-money
laundering’ on Sunday.
He said
that immediate action should be taken to curb the use of illegal money in
securities trading, and the concerned agencies should work together to
discourage it.
Revenue
Secretary at the Ministry of Finance (MoF) Shishir Kumar Dhungana said that
money laundering was not the only concern of the government, regulatory bodies
or the participant of the financial market, but also of the common people.
Saying that
the brokers are the entry-point in the capital market, he urged them to be
sincere and alert to discourage the illegal money in the securities trading.
“For a
stable economy, the financial system of a country should be healthy in the long
run else all the stakeholders of the financial market and common people will all
be affected,” he said.
As Nepal
will go through international assessment whether it has adopted the global
standards on anti-money laundering in 2020, all the concerned should work
together, said Dhungana.
Published in The Rising Nepal daily on 17 September 2018.
No comments:
Post a Comment