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National Banking Institute (NBI) and Central Investigation Bureau (CIB) of Nepal police recently signed a MoU. The MoU is targeted to build investigative capacity of police officers particularly related to financial crimes.
Under this agreement NBI will train and certify police officers on Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT). The police officer will take exactly the same course offered to industry experts. In addition, the officers will be trained in various critical verticals of the banking and finance so they are well equipped to carry the investigation duty.
Signing the MoU Mr. Sanjib Subba Chief Executive Officer of National Banking Institute mentioned that, in its role as Apex banking academy NBI’s mission is to enhance capacity of all the stake holders that primarily includes the financial industry and also regulators, policy makers and law enforcement agencies amongst others. Mr. Subba stated that due to increase in overall financial transactions the crime rate is also increasing including that of off shore financial activity hence AML/CFT training would help law enforcement agency to be more effective.
Director of CIB, Deputy Inspector General Mr. Nawaraj Silwal said this MoU will pave the way for investigation officers to acquire tools and techniques to combat financial crime. DIGP Mr. Silwal opined that the capacity development intervention is expected to take CIB to the next level.
National Banking Institute Ltd. (NBI) is national level apex banking and finance academy established under the aegis of Nepal Bankers´ Association. Apart from Nepal Banker's Association member banks, its promoters include Nepal Rastra Bank and Rural Microfinance Development Center (RMDC). The institute is registered under the Nepal's Company Act, 2063.
Central Investigation Bureau, Nepal Police is established to maintain law and order in the country under Section 34 (1) of the Interim Constitution of Nepal 2063.