KATHMANDU, Oct. 3 -- Nepal Rastra Bank (NRB) has cautioned executive officers of banks and financial institutions (BFIs) not to overlook the issues related to money laundering taking place in their organizations.

Amending the unified directives on Tuesday, the central bank announced that the executives of the BFIs who will not take immediate actions against their officials found involved in breaching the money laundering prevention laws will face action.

"The officials concerned and directors of the reporting BFIs could face a cash fine between Rs 1 million to Rs 50 million or dismissal from their jobs or both," reads the NRB directive.

The NRB has made the BFIs mandatory to abide by the laws related to tightening money laundering meas...