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MOU Signed with Fintelekt Advisory Services

Nepal Bankers’ Association (NBA), signed a Memorandum of Understanding (MOU) with Fintelekt Advisory Services, a global specialist in Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT) and Financial Crime Compliance (FCC).

The MOU signing took place on May 25th at NBA’s office in Kathmandu between Mr. Anil Kumar Upadhyay, President, Nepal Bankers’ Association and Mr. Shirish Pathak, Managing Director, Fintelekt and formalized a collaboration that will facilitate AML/CFT webinars, workshops and executive briefing sessions for NBA member banks. The two organizations will also conduct research studies to aid policy decisions within banks and to provide feedback to regulators on various aspects within AML/CFT. Fintelekt will also provide its strategic advisory services to enable banks to enhance their AML/CFT governance frameworks. Speaking about the partnership with Fintelekt NBA president Mr. Anil Kumar Upadhyay said that the engagement with Fintelekt is very much in line with NBA’s aims of improving the knowledge, skill, efficiency, and productivity of employees in the banking sector, particularly in this crucial area of AML and CFT. It is being strongly believed that in the case where money laundering and financial crimes have grown significantly after Covid 19, the collaboration will improve banking industries’ ability to cope with AML/CFT.

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