Embassy in Israel Urges Against Informal Remittance Operations

Kathmandu. The Nepali Embassy in Israel has requested that no one in Israel and Cyprus should conduct or facilitate informal remittance operations. The embassy there issued a notice today requesting that anyone conducting or facilitating informal remittance operations in Israel and Cyprus provide details of such individuals to the embassy. The notice states, "As per the provision to send secret information about informal remittance operations (Hundi) conducted abroad or unremitted collected amounts to Nepal through electronic means to the Ministry of Finance or relevant bodies via the Ministry of Foreign Affairs, in accordance with the Prevention of Money Laundering and Financing of Terrorism Act, the Embassy has been publishing notices requesting information related to this." The embassy has stated that as per point no. 45 of the 100-point agenda for governance reform approved by the Government of Nepal (Council of Ministers) on Chaitra 13, 2082, an integrated digital asset registration system will be established, a risk-based indicator system will be implemented, and suspicious transactions will be automatically identified and investigated by the relevant bodies.

The notice states, "As per the provision to send secret information about informal remittance operations (Hundi) conducted abroad or unremitted collected amounts to Nepal through electronic means to the Ministry of Finance or relevant bodies via the Ministry of Foreign Affairs, in accordance with the Prevention of Money Laundering and Financing of Terrorism Act, the Embassy has been publishing notices requesting information related to this."