June 10, 2022 | Investopaper
Nepal Rastra Bank (NRB) has directed to monitor the bank accounts of high ranking domestic and foreign persons. NRB has given such instruction by amending the provisions in the Unified Circular-2078 BS regarding control of financial investment in money laundering and terrorist activities.
The directive given to the banks and financial institutions has also asked to provide information about the bank accounts of the persons who were found suspicious during the monitoring to the central bank.
The ‘domestic high-ranking persons’ means the President, Vice-President, Ministers, Members of the Legislative Parliament, Constitutional Bodies, Officers of the Government of Nepal among others.
NRB has directed the banks and financial institutions to monitor the accounts of such persons and inform them if they appear suspicious.