Sanima Reliance Life holds AML/CFT training for board & key stakeholders
The training program was held at Hotel Yak & Yeti in Kathmandu.
KATHMANDU: Sanima Reliance Life Insurance has conducted a specialized training session for its Board of Directors, major shareholders, and departmental heads in accordance with Clause 17(a) of the Directive on the Prevention of Money Laundering and Financing of Terrorist Activities, 2081 (B.S.).
The training program was held at Hotel Yak & Yeti in Kathmandu and featured key presentations by Shambhu Raj Lamichhane, Director of the Insurance Board, and Deputy Director Sabita Thapa.
They provided insights into the potential threats posed by money laundering and terrorist financing within financial institutions, along with practical solutions for mitigation.
The session focused on effective implementation of the Money Laundering and Terrorist Financing Prevention Act, regulations, and directives, emphasizing the importance of robust policies, procedures, control systems, adequate human resources, and infrastructure. The roles, duties, and responsibilities of the Board of Directors in ensuring compliance were also thoroughly discussed.
In his closing remarks, Chair Ratan Lal Kedia highlighted the company’s commitment to fulfilling the responsibilities outlined in the Act and regulations, which are based on national and international best practices and principles developed over time.
Chief Executive Officer Shivanath Pandey underscored the significance of preventing money laundering and terrorist financing, affirming that all employees at every level of the organization will adhere strictly to the relevant laws and guidelines.
Marking the occasion of the enactment of the Money Laundering Prevention Act, 2064 (B.S.), the Government of Nepal has declared Magh 14 as the official Anti-Money Laundering Day, to be observed annually.
