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Sebon Issues New Directive to Discourage Black Money

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April 15: Securities Board of Nepal (Sebon) has issued Anti Money-Laundering and Black Marketing Directive, 2074 for maintaining transparency and reducing risk in the capital market.  Sebon said that it issued the new directive with the motive of making capital market free from black money. The directive aims to verify the investment before getting funded in the capital market. The directive has come into effect from the Nepali New Year, April 14.

Sebon aims to make the capital market safe and free from illegal investment. The directive restricts black money from being invested in the market.

Earlier, capital market was accused of receiving illegal investment coming from terrorist groups and illegal activities. The directive was issued to stop such illegal investments.

The regulatory body has now become more responsible and powerful with the new directive.

 

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