Identifier
Created
Classification
Origin
09KATHMANDU1143
2009-12-16 06:12:00
UNCLASSIFIED
Embassy Kathmandu
Cable title:
NEPAL: DRAFT 2009 INTERNATIONAL NARCOTICS CONTROL
how-toVZCZCXRO7341 OO RUEHCI DE RUEHKT #1143/01 3500612 ZNR UUUUU ZZH O 160612Z DEC 09 FM AMEMBASSY KATHMANDU TO RUEHC/SECSTATE WASHDC IMMEDIATE 1164 INFO RUEHBJ/AMEMBASSY BEIJING PRIORITY 7237 RUEHLM/AMEMBASSY COLOMBO PRIORITY 7578 RUEHKA/AMEMBASSY DHAKA PRIORITY 2922 RUEHIL/AMEMBASSY ISLAMABAD PRIORITY 5619 RUEHLO/AMEMBASSY LONDON PRIORITY 6715 RUEHNE/AMEMBASSY NEW DELHI PRIORITY 3387 RUEHCI/AMCONSUL KOLKATA PRIORITY 4876 RUEAWJA/DEPT OF JUSTICE WASHDC PRIORITY RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY RHMFIUU/CDR USPACOM HONOLULU HI PRIORITY RUEAIIA/CIA WASHDC PRIORITY RHEFDIA/DIA WASHDC PRIORITY RHEHNSC/NSC WASHDC PRIORITY RUEKJCS/SECDEF WASHDC PRIORITY RUCNDT/USMISSION USUN NEW YORK PRIORITY 3763
UNCLAS SECTION 01 OF 05 KATHMANDU 001143
SIPDIS
STATE FOR INL, SCT, EEB AND SCA/INS
JUSTICE FOR AFMLS, OIA AND OPDAT
TREASURY FOR FINCEN
E.O. 12958: N/A
TAGS: EFIN KCRM KTFN SNAR NP
SUBJECT: NEPAL: DRAFT 2009 INTERNATIONAL NARCOTICS CONTROL
STRATEGY REPORT (INCSR) PART II - MONEY LAUNDERING AND
FINANCIAL CRIMES
REF: STATE 114962
Summary
-------
UNCLAS SECTION 01 OF 05 KATHMANDU 001143
SIPDIS
STATE FOR INL, SCT, EEB AND SCA/INS
JUSTICE FOR AFMLS, OIA AND OPDAT
TREASURY FOR FINCEN
E.O. 12958: N/A
TAGS: EFIN KCRM KTFN SNAR NP
SUBJECT: NEPAL: DRAFT 2009 INTERNATIONAL NARCOTICS CONTROL
STRATEGY REPORT (INCSR) PART II - MONEY LAUNDERING AND
FINANCIAL CRIMES
REF: STATE 114962
Summary
--------------
1. Nepal is not a regional financial center and there are no
indications that the country is used as an international
money laundering center. In January 2008, the Government of
Nepal (GON) for the first time passed legislation on
anti-money laundering. There were no prosecutions or arrests
for money laundering during 2009.
Limited Black Market for Smuggled Goods
--------------
2. There is not a significant black market for smuggled
goods in the country; however, organized crime groups are
involved in smuggling. Nepalese traders in most cases fund
the consumer goods, food stuff, fertilizers and construction
materials traditionally smuggled into Nepal from India and
Tibet. There are no reports that narcotics or other illicit
proceeds fund these items.
Limited Reports of Money Laundering and Financial Crimes
-------------- --------------
3. Since the creation of the Financial Information Unit,
within the Nepal Rastra Bank (NRB) in 2008, commercial banks
have begun reporting cases of suspected money laundering.
Reports suggest that hawala operators based in Hong Kong and
Persian Gulf countries work as a parallel banking system, but
these operators are chiefly involved in transferring
remittances from workers in the Gulf and other Asian
countries as well as funds for Nepalese traders dealing in
foreign merchandise. There have been no reported cases of
Nepalese financial institutions engaging in currency
transactions involving international narcotics trafficking
proceeds.
Not an Offshore Financial Center or Free Trade Zone
-------------- --------------
4. Nepal is not an offshore financial center. Offshore
banks, international business companies, or other forms of
exempt or shell companies and trusts are not permitted in the
country. There are no free trade zones in Nepal.
New Law Targets Money Laundering, Financing of Terrorism
-------------- --------------
5. The GON passed its first law, the Anti-Money Laundering
Act targeting money laundering in January 2008. The new law
formally criminalized money laundering, previously addressed
in provisions of the Foreign Exchange Act of 1962 and the
Bank and Financial Institutions Act of 2006. Further
legislation on mutual legal assistance and witness
protections-developed as part of the GON's Master Plan for
Drug Abuse Control-remained stalled in 2008. There were no
prosecutions or arrests for money laundering in 2009.
6. There are no secrecy laws in Nepal that prevent
disclosure of client and ownership information by domestic
and offshore financial services companies to bank supervisors
and law enforcement authorities. The Anti-Money Laundering
Act of January 2008 established a Financial Information Unit
within Nepal Rastra Bank (NRB),the central bank of Nepal.
Central Bank Monitors Financial Sector for Abnormalities
-------------- --------------
7. NRB is the regulator of all banks and financial
KATHMANDU 00001143 002 OF 005
institutions in Nepal. NRB supervises compliance with all
Nepalese laws, international conventions and agreements
pertaining to any kind of financial crime, terrorist
financing, or irregularity. The NRB has issued a directive
called "know your customer" compelling banks and other
financial institutions to record and report the identity of
all customers and notify the NRB about customers engaging in
significant transactions. Foreign exchange is regulated in
Nepal, and the NRB must grant clearance for any significant
transaction. The NRB's controls extend to all banking and
non-bank financial institutions, including exchange houses,
stock brokerages, cash couriers, casinos, dealers in jewels
and precious metals, and insurance companies, as well as
intermediaries such as lawyers, accountants, and brokers.
Banks and financial institutions must report suspicious
activity to the NRB. The NRB then makes recommendations to
the appropriate government body to file a case with the
courts. Cooperation between reporting individuals and law
enforcement entities is kept highly confidential; however,
there are no specific laws protecting the reporting
individuals. The NRB receives hundreds of suspicious
transaction reports, few of which are deemed credible enough
for further investigation.
FIU and Other Entities Investigate Financial Crimes
-------------- --------------
8. An independent Financial Information Unit (FIU) was
established within the NRB in 2008 and has authorization to
investigate money laundering and terrorist financing,
previously the responsibility of several government bodies.
The NRB may pursue prosecution of any bank or financial
institution. The supervisory departments of the NRB have
access to the records and databases of financial
institutions. To access the records of other government
entities, the NRB must seek permission from the appropriate
government entity-either the concerned ministry or the
Cabinet-or forward the matter to the Commission for the
Investigation of Abuse of Authority (CIAA). The CIAA is a
constitutional body mandated to investigate any irregularity
or financial crime in any government entity. The Nepal
Police have the authority to handle arrests and file cases in
the appellate court. There were no arrests or prosecutions
for money laundering or terrorist financing in 2009.
No Reports of International Terrorist Ties
--------------
9. The GON passed the Money Laundering Prohibition Bill on
January 14, 2008, criminalizing the financing of terrorism as
required by the United Nations Security Council Resolution
1373. Terrorism and terrorist financing previously were
prosecuted under other criminal laws, including the Terrorist
and Destructive Acts (Control and Punishment) Ordinance of
2004, which is no longer in force.
10. The NRB circulates to financial institutions the list of
individuals and entities included on the UN 1267 sanctions
committee's consolidated list as being linked to Usama bin
Laden, al-Qa ida, or the Taliban. The NRB also circulates
the list of financiers the United States or European Union
has designated under relevant authorities. The NRB has not
reported any accounts or assets of terrorist organizations or
individuals in Nepal.
Alternative Remittance Systems Acknowledged
--------------
11. The GON acknowledges the existence and use of indigenous
alternative remittance systems (called "hundi" in Nepal) that
bypass financial institutions. In order to regulate these
KATHMANDU 00001143 003 OF 005
systems, the NRB, under the Foreign Exchange Act of 1962 and
the Bank and Financial Institutions Act of 2006, has granted
licenses to financial institutions and money exchangers
allowing trade in foreign exchange. Any unauthorized
transaction of foreign exchange is considered a crime, but
the NRB and law enforcement agencies such as the police and
Department of Customs have very little effective control on
unauthorized remittances, trade-based money laundering,
cross-border cash smuggling, or the misuse of gold, precious
metals and gems.
No Special Efforts To Thwart Misuse of Charitable Entities
-------------- --------------
12. The GON has made no special effort nor drafted
legislation to thwart the misuse of charitable and non-profit
entities that could be used as conduits for the financing of
terrorism. Local law enforcement agencies such as the
District Administration Office and the District Police Office
in theory monitor and supervise their sectors for potential
terrorist financing but in practice lack the resources to do
so. The NRB regulates all transfers or transactions in
foreign exchange, and police and the Customs Department
monitor physical smuggling of foreign currencies.
Cross-Border Transportation of Currency
--------------
13. The NRB formulates statutory requirements to limit and
monitor the cross-border transportation of currency and
monetary instruments, although an open border with India
renders enforcement efforts ineffective. There is no
limitation on inbound cross-border transportation of
currency, but the cash courier or entity must declare the
amount of money, source and purpose of bringing the money
into Nepal. Declaration forms are available at border
crossings. Foreign nationals and entities must show the
entry declaration form to transport currency out of Nepal.
The source of monetary instruments must be declared.
Nepalese nationals may take a maximum of USD 2,000 if
traveling to any country other than India. Travelers must
declare the source and purpose of currency in excess of this
amount. Nepalese nationals traveling to India may carry a
maximum of 16,000 Indian rupees (approximately USD 300-400).
Travelers must declare the source and purpose of currency in
excess of this amount.
Limited Exchange of Information About Cash Smuggling
-------------- --------------
14. The Nepal Police and the NRB are authorized to keep
tandem records of cash smuggling; however, no database or
information-sharing mechanism exists among host government
agencies. Information about cash smuggling is shared among
government agencies and with foreign governments by request
only. In practice, Nepalese government and law enforcement
entities cooperate very little.
Provisions for Asset Seizures Exist
--------------
15. Nepal does not have specific legislation for
identifying, tracing, freezing, seizing, and forfeiting
assets derived from or intended for narcotics, terrorism, or
serious crimes. The seizure of assets is addressed in a
number of other policies, including the anti-money laundering
act passed in 2008, although with questionable efficacy.
Nepal has not enacted laws for the sharing of seized assets
with other governments, but various GON agencies reportedly
are engaged in negotiations with other governments to enhance
asset tracing, freezing and seizure.
KATHMANDU 00001143 004 OF 005
16. The government may freeze assets through regular law
enforcement mechanisms applied to other criminal proceedings.
The Narcotic Drugs Control Act of 1976 allows for the
seizure of assets and instruments used in or gained from the
manufacture or production of narcotics. This includes all
movable and immovable property. The GON may also pursue
asset seizure under the Foreign Exchange Act of 1962 and the
Bank and Financial Institutions Act of 2006, but there have
been no reported cases through 2009. The NRB is responsible
for tracing, seizing, and freezing assets within the banking
system of Nepal. The Nepal Police is responsible for
tracing, seizing, and freezing assets related to narcotics
sales and transportation. Assets may be frozen for three
months without a court case. Frozen assets may be
confiscated by a court's verdict only, after which it becomes
the property of the cabinet in the GON. There is no asset
forfeiture fund. Cash and valuable metals are deposited in
the GON's account in the NRB. The Home Ministry and police
auction seized vehicles, and the Land Tenure Office is
responsible for the sale of seized land and buildings. All
proceeds go to the GON's account but are not shared with
police.
17. The banking community cooperates with enforcement
efforts to trace and seize bank accounts. Existing laws
allow for civil as well as criminal forfeiture. The
government in theory enforces existing asset seizure and
forfeiture laws, and police have the power and resources to
trace, seize, and freeze assets without undue delay.
However, rampant corruption and a culture of graft in law
enforcement agencies and the judicial system means in most
cases the accused are either acquitted or successful in
mitigating the charges. Post has no data regarding the
dollar amount of any narcotics-, terrorist- or
criminal-related asses frozen, seized, or forfeited in 2009.
International Cooperation
--------------
18. The GON has issued directives that allow for the
exchange of records with the United States on investigations
and proceedings related to narcotics, all-source money
laundering, terrorism and terrorist financing. However,
Nepal has neither adopted related laws or regulations nor
signed any treaties with the United States or other
countries. The FIU signed a memorandum of understanding with
its counterpart in Bangladesh in October 2008, but there is
no agreed mechanism with the United States or any other
country for the exchange of records connected to the
aforementioned investigations and proceedings. The GON has
expressed to the United States willingness to establish an
exchange mechanism. Nepal has been willing to cooperate with
U.S. requests regarding the investigation of financial
crimes, and promptly circulates to all banks and financial
institutions UN and U.S. terrorist finance designations.
19. Nepal is party to the UN International Convention
Against Illicit Traffic in Narcotic Drugs and Psychotropic
Substances (Vienna Convention). Nepal has signed but not
ratified the UN Convention Against Transnational Organized
Crime (Palermo Convention) and the UN Convention Against
Corruption. Nepal has not signed the UN International
Convention for the Suppression of the Financing of Terrorism
or any other applicable agreements and conventions. Nepal
adheres to all relevant international money laundering
standards but not by systematic implementation of various
international declarations. The NRB issues directives to
banks and financial institutions to implement specific
recommendations on a case-by-case basis.
KATHMANDU 00001143 005 OF 005
20. Post point of contact is Charles Fouts,
Political/Economic Officer (foutsck@state.gov),phone:
977-1-400-7200 Ext.4544.
BERRY
SIPDIS
STATE FOR INL, SCT, EEB AND SCA/INS
JUSTICE FOR AFMLS, OIA AND OPDAT
TREASURY FOR FINCEN
E.O. 12958: N/A
TAGS: EFIN KCRM KTFN SNAR NP
SUBJECT: NEPAL: DRAFT 2009 INTERNATIONAL NARCOTICS CONTROL
STRATEGY REPORT (INCSR) PART II - MONEY LAUNDERING AND
FINANCIAL CRIMES
REF: STATE 114962
Summary
--------------
1. Nepal is not a regional financial center and there are no
indications that the country is used as an international
money laundering center. In January 2008, the Government of
Nepal (GON) for the first time passed legislation on
anti-money laundering. There were no prosecutions or arrests
for money laundering during 2009.
Limited Black Market for Smuggled Goods
--------------
2. There is not a significant black market for smuggled
goods in the country; however, organized crime groups are
involved in smuggling. Nepalese traders in most cases fund
the consumer goods, food stuff, fertilizers and construction
materials traditionally smuggled into Nepal from India and
Tibet. There are no reports that narcotics or other illicit
proceeds fund these items.
Limited Reports of Money Laundering and Financial Crimes
-------------- --------------
3. Since the creation of the Financial Information Unit,
within the Nepal Rastra Bank (NRB) in 2008, commercial banks
have begun reporting cases of suspected money laundering.
Reports suggest that hawala operators based in Hong Kong and
Persian Gulf countries work as a parallel banking system, but
these operators are chiefly involved in transferring
remittances from workers in the Gulf and other Asian
countries as well as funds for Nepalese traders dealing in
foreign merchandise. There have been no reported cases of
Nepalese financial institutions engaging in currency
transactions involving international narcotics trafficking
proceeds.
Not an Offshore Financial Center or Free Trade Zone
-------------- --------------
4. Nepal is not an offshore financial center. Offshore
banks, international business companies, or other forms of
exempt or shell companies and trusts are not permitted in the
country. There are no free trade zones in Nepal.
New Law Targets Money Laundering, Financing of Terrorism
-------------- --------------
5. The GON passed its first law, the Anti-Money Laundering
Act targeting money laundering in January 2008. The new law
formally criminalized money laundering, previously addressed
in provisions of the Foreign Exchange Act of 1962 and the
Bank and Financial Institutions Act of 2006. Further
legislation on mutual legal assistance and witness
protections-developed as part of the GON's Master Plan for
Drug Abuse Control-remained stalled in 2008. There were no
prosecutions or arrests for money laundering in 2009.
6. There are no secrecy laws in Nepal that prevent
disclosure of client and ownership information by domestic
and offshore financial services companies to bank supervisors
and law enforcement authorities. The Anti-Money Laundering
Act of January 2008 established a Financial Information Unit
within Nepal Rastra Bank (NRB),the central bank of Nepal.
Central Bank Monitors Financial Sector for Abnormalities
-------------- --------------
7. NRB is the regulator of all banks and financial
KATHMANDU 00001143 002 OF 005
institutions in Nepal. NRB supervises compliance with all
Nepalese laws, international conventions and agreements
pertaining to any kind of financial crime, terrorist
financing, or irregularity. The NRB has issued a directive
called "know your customer" compelling banks and other
financial institutions to record and report the identity of
all customers and notify the NRB about customers engaging in
significant transactions. Foreign exchange is regulated in
Nepal, and the NRB must grant clearance for any significant
transaction. The NRB's controls extend to all banking and
non-bank financial institutions, including exchange houses,
stock brokerages, cash couriers, casinos, dealers in jewels
and precious metals, and insurance companies, as well as
intermediaries such as lawyers, accountants, and brokers.
Banks and financial institutions must report suspicious
activity to the NRB. The NRB then makes recommendations to
the appropriate government body to file a case with the
courts. Cooperation between reporting individuals and law
enforcement entities is kept highly confidential; however,
there are no specific laws protecting the reporting
individuals. The NRB receives hundreds of suspicious
transaction reports, few of which are deemed credible enough
for further investigation.
FIU and Other Entities Investigate Financial Crimes
-------------- --------------
8. An independent Financial Information Unit (FIU) was
established within the NRB in 2008 and has authorization to
investigate money laundering and terrorist financing,
previously the responsibility of several government bodies.
The NRB may pursue prosecution of any bank or financial
institution. The supervisory departments of the NRB have
access to the records and databases of financial
institutions. To access the records of other government
entities, the NRB must seek permission from the appropriate
government entity-either the concerned ministry or the
Cabinet-or forward the matter to the Commission for the
Investigation of Abuse of Authority (CIAA). The CIAA is a
constitutional body mandated to investigate any irregularity
or financial crime in any government entity. The Nepal
Police have the authority to handle arrests and file cases in
the appellate court. There were no arrests or prosecutions
for money laundering or terrorist financing in 2009.
No Reports of International Terrorist Ties
--------------
9. The GON passed the Money Laundering Prohibition Bill on
January 14, 2008, criminalizing the financing of terrorism as
required by the United Nations Security Council Resolution
1373. Terrorism and terrorist financing previously were
prosecuted under other criminal laws, including the Terrorist
and Destructive Acts (Control and Punishment) Ordinance of
2004, which is no longer in force.
10. The NRB circulates to financial institutions the list of
individuals and entities included on the UN 1267 sanctions
committee's consolidated list as being linked to Usama bin
Laden, al-Qa ida, or the Taliban. The NRB also circulates
the list of financiers the United States or European Union
has designated under relevant authorities. The NRB has not
reported any accounts or assets of terrorist organizations or
individuals in Nepal.
Alternative Remittance Systems Acknowledged
--------------
11. The GON acknowledges the existence and use of indigenous
alternative remittance systems (called "hundi" in Nepal) that
bypass financial institutions. In order to regulate these
KATHMANDU 00001143 003 OF 005
systems, the NRB, under the Foreign Exchange Act of 1962 and
the Bank and Financial Institutions Act of 2006, has granted
licenses to financial institutions and money exchangers
allowing trade in foreign exchange. Any unauthorized
transaction of foreign exchange is considered a crime, but
the NRB and law enforcement agencies such as the police and
Department of Customs have very little effective control on
unauthorized remittances, trade-based money laundering,
cross-border cash smuggling, or the misuse of gold, precious
metals and gems.
No Special Efforts To Thwart Misuse of Charitable Entities
-------------- --------------
12. The GON has made no special effort nor drafted
legislation to thwart the misuse of charitable and non-profit
entities that could be used as conduits for the financing of
terrorism. Local law enforcement agencies such as the
District Administration Office and the District Police Office
in theory monitor and supervise their sectors for potential
terrorist financing but in practice lack the resources to do
so. The NRB regulates all transfers or transactions in
foreign exchange, and police and the Customs Department
monitor physical smuggling of foreign currencies.
Cross-Border Transportation of Currency
--------------
13. The NRB formulates statutory requirements to limit and
monitor the cross-border transportation of currency and
monetary instruments, although an open border with India
renders enforcement efforts ineffective. There is no
limitation on inbound cross-border transportation of
currency, but the cash courier or entity must declare the
amount of money, source and purpose of bringing the money
into Nepal. Declaration forms are available at border
crossings. Foreign nationals and entities must show the
entry declaration form to transport currency out of Nepal.
The source of monetary instruments must be declared.
Nepalese nationals may take a maximum of USD 2,000 if
traveling to any country other than India. Travelers must
declare the source and purpose of currency in excess of this
amount. Nepalese nationals traveling to India may carry a
maximum of 16,000 Indian rupees (approximately USD 300-400).
Travelers must declare the source and purpose of currency in
excess of this amount.
Limited Exchange of Information About Cash Smuggling
-------------- --------------
14. The Nepal Police and the NRB are authorized to keep
tandem records of cash smuggling; however, no database or
information-sharing mechanism exists among host government
agencies. Information about cash smuggling is shared among
government agencies and with foreign governments by request
only. In practice, Nepalese government and law enforcement
entities cooperate very little.
Provisions for Asset Seizures Exist
--------------
15. Nepal does not have specific legislation for
identifying, tracing, freezing, seizing, and forfeiting
assets derived from or intended for narcotics, terrorism, or
serious crimes. The seizure of assets is addressed in a
number of other policies, including the anti-money laundering
act passed in 2008, although with questionable efficacy.
Nepal has not enacted laws for the sharing of seized assets
with other governments, but various GON agencies reportedly
are engaged in negotiations with other governments to enhance
asset tracing, freezing and seizure.
KATHMANDU 00001143 004 OF 005
16. The government may freeze assets through regular law
enforcement mechanisms applied to other criminal proceedings.
The Narcotic Drugs Control Act of 1976 allows for the
seizure of assets and instruments used in or gained from the
manufacture or production of narcotics. This includes all
movable and immovable property. The GON may also pursue
asset seizure under the Foreign Exchange Act of 1962 and the
Bank and Financial Institutions Act of 2006, but there have
been no reported cases through 2009. The NRB is responsible
for tracing, seizing, and freezing assets within the banking
system of Nepal. The Nepal Police is responsible for
tracing, seizing, and freezing assets related to narcotics
sales and transportation. Assets may be frozen for three
months without a court case. Frozen assets may be
confiscated by a court's verdict only, after which it becomes
the property of the cabinet in the GON. There is no asset
forfeiture fund. Cash and valuable metals are deposited in
the GON's account in the NRB. The Home Ministry and police
auction seized vehicles, and the Land Tenure Office is
responsible for the sale of seized land and buildings. All
proceeds go to the GON's account but are not shared with
police.
17. The banking community cooperates with enforcement
efforts to trace and seize bank accounts. Existing laws
allow for civil as well as criminal forfeiture. The
government in theory enforces existing asset seizure and
forfeiture laws, and police have the power and resources to
trace, seize, and freeze assets without undue delay.
However, rampant corruption and a culture of graft in law
enforcement agencies and the judicial system means in most
cases the accused are either acquitted or successful in
mitigating the charges. Post has no data regarding the
dollar amount of any narcotics-, terrorist- or
criminal-related asses frozen, seized, or forfeited in 2009.
International Cooperation
--------------
18. The GON has issued directives that allow for the
exchange of records with the United States on investigations
and proceedings related to narcotics, all-source money
laundering, terrorism and terrorist financing. However,
Nepal has neither adopted related laws or regulations nor
signed any treaties with the United States or other
countries. The FIU signed a memorandum of understanding with
its counterpart in Bangladesh in October 2008, but there is
no agreed mechanism with the United States or any other
country for the exchange of records connected to the
aforementioned investigations and proceedings. The GON has
expressed to the United States willingness to establish an
exchange mechanism. Nepal has been willing to cooperate with
U.S. requests regarding the investigation of financial
crimes, and promptly circulates to all banks and financial
institutions UN and U.S. terrorist finance designations.
19. Nepal is party to the UN International Convention
Against Illicit Traffic in Narcotic Drugs and Psychotropic
Substances (Vienna Convention). Nepal has signed but not
ratified the UN Convention Against Transnational Organized
Crime (Palermo Convention) and the UN Convention Against
Corruption. Nepal has not signed the UN International
Convention for the Suppression of the Financing of Terrorism
or any other applicable agreements and conventions. Nepal
adheres to all relevant international money laundering
standards but not by systematic implementation of various
international declarations. The NRB issues directives to
banks and financial institutions to implement specific
recommendations on a case-by-case basis.
KATHMANDU 00001143 005 OF 005
20. Post point of contact is Charles Fouts,
Political/Economic Officer (foutsck@state.gov),phone:
977-1-400-7200 Ext.4544.
BERRY