Kathmandu. The program was organized by Nepal Insurance Authority Gandaki Province Office on November 3 on Money Laundering and Prevention of Financing in Terrorist Activities. The program was presided over by Shambhu Prasad Mishra, Chief of Nepal Insurance Authority, Gandaki Province and in the presence of Padam Prasad Sodari, Chief of the Property Laundering Section of Nepal Insurance Authority.
The special guest was Chin Bahadur Ranabhat, Focal Person of Insurance of Gandaki Province Government. In the program, 3 branch and sub-branch heads including one woman from each insurance company located in Gandaki Province participated.
Chief of the Money Laundering Section of Nepal Insurance Authority Padam Prasad Sodari gave a presentation on the program while Assistant First Balaram Lamichhane conducted the program.
In the presentation of the program, Section Chief Padam Prasad Sodari informed about the directive related to the Prevention of Money Laundering, Terrorist Activities and Financial Investment in the Manufacture or Expansion of Weapons of Mass Destruction, 2082 and stressed on the need to issue insurance policies accordingly.
He requested the branch and sub-branch chiefs to operate the insurance business in a careful and manner as they themselves would be liable to penalty and punishment if the insurance policy was not issued as per the directive.
After the interaction and discussion of the branch and sub-branch chiefs, an interaction program was held with the provincial chiefs of the re-insured on the prevention of money laundering, prevention of terrorist financing in terrorism, at the meeting hall of Nepal Insurance Authority Gandaki Province Office.
During the meeting, discussions were held on the role of the provincial chiefs of insurers in the prevention of money laundering, how to implement it effectively and how to disseminate knowledge to the branches and sub-branches.
