The Insurance Institute of Nepal (IIN) successfully conducted a one-day training program titled “AML/CFT Essentials for Insurance Professionals” on January 23, 2026, at Siddhartha Cottage, Dhangadhi, in Sudurpaschim Province. The program was attended by 48 participants representing Life, Non-life, and Micro Insurance companies operating in the region.
The training brought together branch managers, Branch Officials of Insurers, with the objective of enhancing their understanding of Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) requirements within the insurance sector.
The program formally commenced with the presence and opening remarks of Dr. Laxmi Kanta Paudel, Chief Executive Officer of the Insurance Institute of Nepal. In his address, Dr. Paudel emphasized the critical role of strong compliance practices in ensuring institutional stability, regulatory adherence, and public trust within the insurance industry.
The training session was facilitated by Mr. Padam Prasad Sodari, Deputy Director of Nepal Insurance Authority as well as Money Laundering Prevention Department, Nepal Insurance Authority, who served as the resource person. Drawing upon his extensive regulatory experience and his previous role as Provincial Head of Karnali Province, Mr. Sodari delivered practical, sector-specific insights on AML/CFT compliance tailored to insurance professionals.
Key topics covered during the training included the fundamentals of money laundering and terrorist financing, customer due diligence requirements, risk assessment methodologies, and regulatory reporting obligations applicable to insurance institutions. The sessions emphasized practical application and regulatory expectations, enabling participants to better align their institutional practices with national compliance standards.
At the conclusion of the program, certificates were distributed to participants by Mr. Kedar Nath Bhatta, Sudurpaschim Provincial Head of the Nepal Insurance Authority, along with Dr. Laxmi Kanta Paudel and Mr. Padam Prasad Sodari. The certificate distribution underscored the regulatory importance of AML/CFT compliance within the insurance sector.
Participants expressed positive feedback regarding the clarity, relevance, and practical orientation of the training sessions. The program reflected a growing awareness among insurance professionals of the necessity for robust and effective AML/CFT compliance systems.
This training program forms part of IIN’s ongoing efforts to strengthen professional capacity and promote high institutional standards across Nepal’s insurance industry, in alignment with the directives of the Nepal Insurance Authority and relevant National and international best practices.
