Sanima Reliance Life Conducts Special Training Program on Anti-Money Laundering Compliance

Kathmandu — Sanima Reliance Life Insurance Limited has successfully conducted a special training program targeting its top-level officials in line with Section 17 (a) of the ‘Directives on Prevention of Money Laundering and Financing of Terrorism, 2081’.

The program held at Hotel Yak & Yeti in Kathmandu, brought together members of the Board of Directors, key shareholders, and department heads. The training was facilitated by Shamba Raj Lamichhane, Director at the Insurance Authority, and Deputy Director Sabita Thapa.

The session focused on the potential risks financial institutions face related to money laundering and terrorist financing, along with strategic solutions and best practices for effective implementation of relevant laws, regulations, and directives. It also covered essential aspects such as policy frameworks, procedural compliance, internal control mechanisms, human resource management, and the integration of technology in risk mitigation.

Chairman of Sanima Reliance Life, Ratan Lal Kedia, reaffirmed the company’s commitment to align its operations with both national and international anti-money laundering (AML) standards. He emphasized the importance of fulfilling obligations under existing legislation to maintain financial integrity.

Chief Executive Officer Shivnath Pandey also addressed the gathering, underlining the sensitivity and seriousness of combating money laundering and terrorist financing. He assured that employees at all levels would adhere strictly to the AML directives.

This initiative was conducted in the spirit of the Government of Nepal’s recent declaration of Magh 14 as ‘Anti-Money Laundering Day’, aimed at strengthening the implementation of the Money Laundering Prevention Act, 2064 BS.