Review Nepal News

Government pretends to have unheard about the issue of illegal parking of Rs 35.8 billion in Swiss banks by the 55 Nepalese nationals

www.reviewnepal.com
  Kathmandu, Nepal      January 17 2019

 
Kathmandu, Nepal: Though the issue of illegal parking of Rs 35.8 billion in Swiss banks by the 55 Nepalese nationals has rocked the country, the government authorities do not seem serious to initiate the investigations with the motive to return back the money in the country.  

An in-depth investigation carried out by the Centre for Investigative Journalism in collaboration with the International Consortium of Investigative Journalists had categorically been exposing the facts of illegal deposit. But no government authorities have shown seriousness, thanks to the indifference of the government to implement the anti money laundering act to control the corruption.  

The authorities concerned like Nepal Rastra Bank (NRB), Department of Revenue Investigation (DRI) and the Department of Money Laundering Investigation (DMLI) should have taken the issue seriously to investigate the issue.

However, no above mentioned authorities have initiated investigations with the motive to bring results immediately. Likewise, the government has also been pretending to have unheard the issue. 

Though the report has not disclosed the names of all the Nepalese, who have deposits in Swiss banks, it was already revealed that Minu Shah and her two sons have deposited highest amount in Swiss banks. According to the report, they had deposited $23.55 million (Rs 2.61 billion) in 2006/2007.

The report has given some hints stating that the savings of Nepalese in Swiss banks started to see a steady rise after 2007, following the end of the Maoist armed insurgency in the country. 

It is being suspected that about one dozen business groups would have involved in channeling their illegal wealth abroad by depositing in the Swiss banks. 

As some Business groups have repeatedly been bringing the money back into the country in the name of foreign direct investment, it is being suspected that the illegally deposited amount would have brought back into the country in the name of foreign direct investment.