NepaLeaks and Anti-Corruption Reforms in Nepal: A Step Towards Transparency or Cosmetic Changes?

Exposing Financial Crimes and Promising Reforms

• NepaLeaks investigation reveals extensive financial crimes in Nepal
• Nepalese authorities respond with wide-ranging reforms

International Partners’ Concerns: More Than Cosmetic Changes Needed

ICIJ Partners’ Perspective

• ICIJ partners eager to assess the meaningfulness of new measures
• Significant challenges remain, particularly regarding data transparency

Quote from an Anonymous ICIJ Partner Journalist

“We applaud the efforts made by the Nepalese authorities to address corruption issues raised through our investigation, but it’s essential that these changes lead to tangible results and real accountability.”

Progress Made but Challenges Persist: New Companies Act and Transparency Concerns

Nepal’s New Companies Act

• Enacted in July 2020, includes provisions for company transparency
• Requirement for companies to disclose beneficial ownership information

Delayed Implementation and Opaque Approach

• Technical and logistical challenges delaying provision implementation
• Companies Registrar Office maintaining non-transparent approach

Prior Investigations and Similar Concerns

• Weaknesses in Nepal’s regulatory frameworks highlighted
• Access to information continues to be a challenge for journalists and civil society organizations

Monitoring Nepal’s Progress: ICIJ and the International Community’s Role

Ensuring Meaningful Change

• Closely monitoring Nepal’s anti-corruption reform progress
• Scrutiny from the international community crucial for genuine progress