Nepal Bankers’ Association (NBA) organized an interaction program focusing on goAML Operational Guidelines with the Financial Intelligence Unit (FIU) of Nepal Rastra Bank (NRB). The event brought together officials from Banks and Financial Institutions (BFIs), including Commercial Banks, Development Banks as well as representatives from FonePay and the Nepal Clearing House Limited (NCHL). The primary objective of the session was to provide stakeholders with a comprehensive understanding of the forthcoming amendments to the goAML Operational Guidelines and to discuss the practical challenges associated with their implementation, along with potential solution.
During the program Mr. Keshav Prasad Rimal, Deputy Director at NRB, emphasized the significance of the goAML system in strengthening AML/CFT measures. He elaborated on the key amendments being introduced and their implications for financial institutions, highlighting the necessity for robust compliance mechanisms. Mr. Rimal also acknowledged the NBA’s proactive efforts in organizing the session to facilitate dialogue and clarity on these critical regulatory changes.
Addressing queries from participants, Mr. Kamal Poudel, Assistant Director at NRB, assured that the central bank remains committed to ensuring a smooth transition for all financial institutions. He affirmed that reasonable time would be provided for the banks to align with the goAML requirements. Furthermore, he elaborated on key components of the updated guidelines, including XML upload requirements, the minimum mandatory information for transaction reporting, and other compliance enhancements aimed at improving regulatory oversight and financial transparency.
In his closing remarks, Mr. Kapil Gautam, Senior Officer at NBA, extended his gratitude to officials from NRB for their valuable insights and guidance. He also appreciated the enthusiastic participation from various financial institutions, acknowledging their commitment to reinforcing AML/CFT measures. Mr. Gautam reiterated NBA’s dedication to supporting its member banks in ensuring a seamless adoption of the goAML system and fostering a more compliant and transparent financial sector. The program was attended by over 60 representatives from various institutions.
