Nepal's Insurance Regulator Orders Asset Freezing for Terror Groups

Nepal's insurance watchdog has told all insurance companies that they must stop doing business with people and groups that are known terrorists.

This is like freezing their bank accounts, but for insurance.

They can't get new insurance, and any money or assets they have with the insurance companies will be frozen.

This is because Nepal is on a special list called the FATF grey list, and they need to show they are serious about stopping money for terrorism.

By doing this, Nepal hopes to be taken off that list.

The insurance companies have to check lists every day to make sure they aren't accidentally helping anyone on these lists.

If they don't follow these rules, they can get big fines or even lose their permission to operate.