Kathmandu. The stock market will be monitored for transactions of Rs 10 lakh or more. The board has issued the ‘Prevention of Money Laundering and Terrorist Financing Directive, 2083′ and said that it will monitor the transactions of shares worth Rs 10 lakh or more.

With this, if a person trades shares worth Rs 10 lakh or more daily, the concerned index institution will have to keep the details of the transaction and provide the details through the system prescribed by the Financial Information Unit within 15 days.

The directive states that a separate record should be kept regarding the amount of such transactions, or the account operation and the source of the amount used in the transaction should also be disclosed.

Where did the money used in the share trading come from? What is the source? And it will be easier to monitor how it was used, the board said.

Similarly, the directive has a provision to identify the customer on the basis of the national identity card. Along with this, in the case of Nepali citizens, arrangements should be made to establish a business relationship by verifying the identity of the customer on the basis of the national identity card. Similarly, the customer’s details, contact number, email, address, and photo will also have to be verified as per the need.