<img width="1648" height="512" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161152/636d1e639c7e80680e0af409png.png" alt=""/>Standard Chartered in its 35th Annual General Meeting recorded operating and net profits of Rs2.01 billion and Rs1.40 billion respectively in 2020/21. The AGM approved payment of cash dividends of 3.06% and bonus shares of 10% to the shareholders. The bank posted a growth of 26% on its risk assets to reach Rs72.95 billion, deposits declined marginally by 3.30% to Rs 95.99 billion.

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Standard Chartered's AGM

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221109171144/636bd96a9c7e80680e080211jpeg.jpg" alt="" width="2880" height="1920"/><figcaption>Anirvan Ghosh Dastidar, Chief Executive Officer for Standard Chartered Bank in Nepal.</figcaption></figure>Meet Anirvan Ghosh Dastidar, Chief Executive Officer for Standard Chartered Bank in Nepal. Before arriving in Kathmandu last year, he served as CEO of bank in Brunei, Philippines and Sri Lanka. Nepali Times spoke to him about the current Covid-19 crisis and its impact on financial systems worldwide and in Nepal.Nepali Times: What is your assessment of Nepal's macro-economic situation and the risks to the banking sector? Anirvan Ghosh Dastidar: Nepal’s GDP composition is largely driven by the service sector which amounts to more than half of the total output. The pandemic has rapidly slowed down this sector which maybe causing majority of the aggregate demand subdue. A slowdown in services also means both consumption and production would be impacted since interlinkages between services, agriculture and manufacturing are very high in our economy. Though it may seem on the outside that Nepal’s economy is only consumption led – Nepal’s interlinkages to the global economy on both demand and supply drivers are very high. This also is one reason that the credit demand is quickly picking up after the lockdown was lifted which can be seen from the CCD ratio – since Nepal’s economy is dependent on drivers that may not need so much time for recovery like remittances and the service sector to drive majority of the demand, and, imports to drive majority of the supply.Banks in Nepal are directly impacted by how the economy performs since there are no complex financial instruments in the system that stabilise or delay the impact of economic shocks. Most real GDP economic forecasts for Nepal have relied on a few assumptions: there will be localised lockdowns only until the end of 2020 and cases will gradually decline, economic activities will gradually return to normal starting 2021. Forecasts based on these assumptions estimate Nepal’s real GDP growth to be between 2 to 2.5% for 2020. I have a similar assessment for Nepal’s macroeconomic situation: if there is no second wave and there only are local lockdowns until the end of 2020 – Nepal will gradually go into the recovery phase and it will be quick due to the drivers of our economy.Nepal Rastra Bank has allowed rescheduling and restructuring loans, would this provide relief or just postpone the problem given that economic activity is not picking up? This would be completely dependent on how the economy would recover. If there is no recovery of economic activity, given a subdued demand, the problem would be there irrespective. In this case, there is no other option but to reschedule and restructure loans with an expectation that in the recovery phase things will get back to normal – this trend can be seen across the world, not only in Nepal. I think the factor causing the problem here should be understood well – the Central Bank Policy has in no way got to do anything with the problem, in fact these regulations are there by definition to ease the burden for all stakeholders in the system. The problem is external, which is dependent on market forces and these factors are beyond anyone’s control given the global pandemic. I am in fact appreciative of the efforts Nepal Rastra Bank has taken to stabilise the negative economic impact caused by this crisis – the impact would have been much worse if it were not for the effective actions of our Central Bank.There was always a chronic liquidity crisis among Nepal's banks, but that is not the reality now. Would this not be a time to prime up investment? This is largely dependent on what you are investing in. However, on a broader scale, trying to invest now just because there is liquidity and prices of certain markets are low, would be a myopic view – one might also argue that interest rates are down so credit is cheaper. However, I think the fundamental laws of the markets and economics cannot be ignored. As long as the economy is down, so is the aggregate demand. When aggregate demand is down, an overall subdue in economic activities is bound to exist – this is a vicious cycle. Having said that, Nepal’s economy is slowly picking up because of an ease in the lockdown, but not in all sectors. I would thus say investment decisions would depend more on the sectors involved. The same time maybe prime for some sector and some investments, when it is not for some.Do you see the possibility of mergers of financial institutions during this crisis? There is no straightforward answer when it comes to mergers of financial institutions, and there are various academic arguments on various variables from economies of scale, synergy, efficiency of the industry, quality of assets and returns of the market the financial institutions are operating in. The sky is the limit for these variables. One can add the geographic argument and build a spatial model, one can also argue that traditional models miss the current trends of digitisation or new trends in the economy which may also have different implications to the debate and add these variables. Arguments also differ because of the tools and models which are used to analyse these variables – ranging from Optimized Mathematical Game Theory Models, Time-Series Econometric Models to even Economic General Equilibrium Models. Therefore, commenting on the possibility of mergers is very complicated and this should be based on various factors that are important to the market and industry in question. Ultimately, however, there are fundamental rules always govern any banking industry: a bank needs to be profitable to sustain and should comply with the rules laid forward by the Central Bank.What would be Standard Chartered’ s strategy to ride out this crisis, and indeed see it as an opportunity for expansion? There was an interesting article in <a href="https://hbswk.hbs.edu/item/why-japan-s-businesses-are-so-good-at-surviving-crises">Harvard Business Review</a> on the Japanese way of dealing with a crisis which points towards a long term outlook of the society a business operates in. This article argues that the more we contribute towards the overall development of the economy and communities in the economy, the more we benefit. I think our purpose also follows the same concept which includes a focus on the long-term prosperity and economic development of Nepal which in-turn has a direct relationship to the banking industry’s health. We are committed to the sustainable growth priorities of Nepal and are focused on helping businesses and communities revive post Covid-19.Having said that we have had our share of learnings during the pandemic and we have already devised plans to refresh our operating models. Our plans are geared towards enhancing our digital capabilities to support clients with their banking needs. We also feel, as have many institutions internationally, that our operating model will also consist of a refreshed health and safety standard where there will be a certain element of working from home even after the Pandemic. I think our focus is more towards supporting our clients recover from this crisis and keeping our colleagues safe, more than expansion.

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“We are focussed on post-Covid revival of Nepal’s business”

<figure></figure>										<img width="1698" height="1176" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221109151112/636bb58f9c7e80680e07bc0djpeg.jpg" alt=""/><figcaption>Illustration: CIJ NEPAL</figcaption>												Top secret documents prepared by the US government’s Financial Crimes Enforcement Network (FinCEN) and leaked to the media have revealed $2 trillion in suspicious money transfers, and include files that involve some of Nepal’s top banks.The information is contained in ‘Suspicious Activity Reports’ (SARs) sent by banks to the American financial watchdog between 1999 to 2017, and most involve transactions with countries on which the US has imposed sanctions, like Russia, North Korea, Iran and Cuba, or Chinese companies which Washington has blacklisted. Some of these SARs involve transfers through Kathmandu-based banks, and by Nepali firms a few of which appear to be front or fake companies, or ones that are defunct. Banks report transactions when they suspect that money laundering or criminal activity is suspected, but they do not necessarily mean that the companies or individuals named have broken the law.The Nepal files contain transactions made through nine banks, 10 companies and other individuals between 2006-2017 and include some of the big names in banking. However, the companies are less well known, and some of the individual names appear to be security guards or Nepali overseas workers sending money home. Even so, some of the Nepal-based companies named appear to have been involved in smuggling gold, antiquities, or trading in asphalt and telecommunication equipment. The transactions flagged in the FinCEN leaks in Nepal were through Standard Chartered Bank, Prime Commercial Bank, Bank of Kathmandu, Nepal Investment Bank, Everest Bank, Mega Bank, Himalayan Bank, Apex Development Bank of Kaski, and Nepal Bangladesh Bank.The leaked documents contain the names of 10 little known Nepal-based companies including Rauniyar Brothers &amp; Co of Birganj, Subha Samriddhi Traders Pvt Ltd of Kathmandu, Shasta Trading Company, Setidevi Export Import Pvt Ltd, L D International Pvt Ltd, Felt and Yarn Pvt Ltd, Woman’s Paper Crafts, Acme Money Transfer Service, and Sunny Enterprises. Some these were never registered, others appear to be front companies, and some are closed. Of the nearly $300 million worth of transactions through Nepal that were flagged in the FinCEN documents, $177.6 million were bank transfers of which $103 million were transferred out of Nepal and $74.6 million were remitted into the country. There were also $48.2 million worth of possibly illegal transactions in various countries with Nepal links, and another $75 million transactions not in Nepal, but involving Nepali-sounding surnames and addresses. Most of the transactions in the FinCEN leaks that raised red flags, including those by Rauniyar Brothers and Shubha Shambridhi Traders, involved over $70 million in Letters of Credit through Standard Chartered Bank in Nepal and its branches abroad. The Rauniyar transactions went through the Dubai-based Kite International FZE, and involved import and export of petroleum products. They were sourced from Bandar Abbas port in Iran in contravention of US-sanctions, and the shipment documents were reportedly forged to look like they came through Dubai.When asked to respond, Pranu Singh of Standard Chartered Bank Nepal said the bank was bound by client confidentiality and did not comment on specific cases. ‘The reality is that there will always be attempts to launder money and evade sanctions,’ she wrote in an email reply. ‘We take our responsibility to fight financial crime extremely seriously and have invested substantially in our compliance programs.’  The other companies involved appear to have been involved in using banking channels to fund gold smuggling operations via jewellery companies in Hong Kong and Dubai between 2009-2011. Some banking transactions appear to have been listed in the SARs because they involved Chinese telecommunication company ZTE that is on a US blacklist, while others were  transfers from Nepal to known tax havens like the British Virgin Islands, Seychelles and Luxembourg.  The leaked files also include transfers of amounts as small as $120-500 to Nepali companies and from Nepali workers in Iraq and other countries that for some reason were in the suspicious activity reports sent by corresponding banks as long as ten years ago. However, some of the companies listed, like Woman’s Paper Crafts, are not even officially registered in Nepal.Two separate reports in the FinCEN leaks concern possible payments for smuggled Nepali religious artifacts. Standard Chartered Bank New York flagged American Nancy Wiener Gallery and several other dealers suspected to be involved in the illegal trade of antiquities. Some of them were linked to Subhash Kapoor, an Indian national and the Art of the Past Gallery owner in New York, who used to facilitate artifacts smuggling from India to the United States. He was arrested by Interpol in 2011 at Frankfurt airport.Nancy Wiener Gallery was cited in the FinCEN leaked files for suspicious transactions worth $27 million between 2010-2017. This is the same gallery that sold a stolen 16th-century bronze from Nepal in 2010 and transferred the payment to Pantheon Worldwide in Hong Kong. The bank that filed the suspicious activity report said: ‘The transactions appear to be related to antiquities that were potentially purchased and sold illegally.’Nepal’s Money Laundering Prevention Act requires banks and financial institutions to report suspicious transactions to the Nepal Rastra Bank’s Financial Information Unit (FIU). The Act bars clients from making transactions under anonymous or fictitious names. Financial institutions also need to keep a separate record of transactions of high-ranking officials in the political, administrative, and judicial spheres. Although some of the suspicious transactions in the FinCEN report are dated, there appears to be a gap in the way Nepal’s banking sector monitors international transfers. This poses a serious challenge, and could push Nepal towards an international blacklist of high-risk countries.Nepal Rastra Bank Governor Maha Prasad Adhikari says Nepal has enacted laws against money laundering and has set up a Financial Information Unit (FIU) at the central bank. “However, having legal provisions doesn’t mean that money laundering will not happen. We don’t claim that we are good at implementing laws, but it’s getting better as time passes,” Adhikari added. “We have fined six banks and financial institutions for mishandling Know Your Customers forms and failing to monitor and report money laundering. Nepal Rastra Bank is committed to preventing money laundering. There won’t be any ifs or buts.”The latest ‘<a href="https://www.buzzfeednews.com/article/jasonleopold/fincen-files-financial-scandal-criminal-networks" target="_blank" rel="noopener noreferrer">FinCEN Files</a>’ contain top secret financial records obtained by BuzzFeed News and shared with the <a href="https://www.icij.org/investigations/fincen-files/" target="_blank" rel="noopener noreferrer">International Consortium of Investigative Journalists (ICIJ)</a> and other news organisations. In Kathmandu, follow up investigations were conducted by the <a href="https://cijnepal.org.np/fincen-files-nepal-nexus/" target="_blank" rel="noopener noreferrer">Centre for Investigative Journalism Nepal (CIJ-N)</a>.Krishna Acharya, Ramu Sapkota and Shiva Gaunle. Arun Karki and Pramod Acharya also contributed to this report.Centre for Investigative Journalism Nepal

Nepal figures in leaked money laundering report

In the black and white photograph, General Wangdu smiles broadly in front of the dusty cactus garden in Kathmandu’s Annapurna Hotel. With an ill-fitting jacket and shaggy hair he looks benign enough, but this was the last leader of the Tibetan freedom fighters who led the resistance against the Chinese from their remote mountain hideouts in <a href="https://nepalitimes.com/here-now/comings-and-goings-in-mustang">Mustang</a>. Five months later, Wangdu was dead. Snapped in March 1974, I had only recently arrived in Nepal. How did I meet this legendary fighter? Possibly with his devoted camp follower, Lynne Klapecki, and probably in the Om Restaurant near Freak Street which was the preferred <a href="https://nepalitimes.com/banner/hippie-trail-nostalgia-in-kathmandu">hippie hang-out</a>. Om Lobsang and his brother Yeshe were <a href="https://archive.nepalitimes.com/page/earthquake-brings-back-memories-of-camps-for-tibetan-refugees">refugees from East Tibet </a>whose cafe offered a friendly welcome and<a href="https://nepalitimes.com/multimedia/momo-loco"> the best momos</a> - they became my in-laws after I married their eldest brother Tenzin, but that was a decade later.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025052403054_4573b34282b0f5395c007243d6bef12c7ba76bfd520419e994cdcea048d795a1.jpg" data-media-id="editor_4" data-image-id="2025052403054_4573b34282b0f5395c007243d6bef12c7ba76bfd520419e994cdcea048d795a1" data-rendition-name="original" width="1000" height="1583" loading="lazy" alt="The last days of the Khampa NT"> <figcaption>Photo: LISA CHOEGYAL</figcaption> </figure>  Wangdu’s English was enthusiastically rudimentary, but even riding around town with him on the back of an aging <a href="https://nepalitimes.com/here-now/kathmandu-s-new-motorbike-museum">motorbike</a>, he was a commanding presence. Always flanked by armed outriders, impressive scars marked his forearms and a pistol hung from the cord around his neck. A charismatic guerrilla leader, Wangdu was celebrated by his followers for his tough commitment and respected for his measured pragmatism. He seemed so young to have shouldered such a responsibility of command, leading hundreds of hardened <a href="https://archive.nepalitimes.com/article/nation/50-years-after-the%20raid-into-Tibet,1012#google_vignette">Khampa combatants </a>through what had been a particularly <a href="https://nepalitimes.com/news/heavy-snowfall-over-nepal-himalaya">brutal winter in Mustang</a>, the last bastion to hold out against the Chinese invasion of their Tibetan homeland.&nbsp; The freedom fighters of Tibet, known as the Chushi-Gangdruk, had emerged to resist the <a href="https://nepalitimes.com/editorial/territorialism">Chinese takeover</a> of Tibet during the 1950s. Estimated to be 80,000-strong at the time of <a href="https://nepalitimes.com/here-now/what-or-who-after-the-dalai-lama">the Dalai Lama</a>’s final escape to India in 1959, the sheer number of Chinese deployed into Tibet eventually forced the Chushi-Gangdruk to retreat to Mustang, From this high Himalayan stronghold, they continued cross-border raids on the Chinese People’s Liberation Army (PLA) throughout the 1960s.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025052403054_8a4a935ba25ae79dc3a63bb5c14626927020e5ec098093c45ccb9a5982e009fd.jpg" data-media-id="editor_10" data-image-id="2025052403054_8a4a935ba25ae79dc3a63bb5c14626927020e5ec098093c45ccb9a5982e009fd" data-rendition-name="original" width="1114" height="676" loading="lazy" alt="The last days of the Khampa NT"> <figcaption>Guerrillas known as the Chushi-Gangdruk emerged to resist the Chinese annexation of Tibet during the 1950s. Photo courtesy: MIKEL DUNHAM</figcaption> </figure>  Their Kathmandu base was a small discreet lodge in a back lane near Rani Pokhari. Sipping sweet tea from a blue mug with a chipped lid, I sat bemused in a corner of the Mustang Hotel room whilst Wangdu and his cohorts received a battered brown suitcase from their CIA connection, a tousle-haired American in a leather jacket. Heaved onto the dingy bedspread that covered the thin mattress, it was clicked open to reveal piles of neatly stacked dollar bills.&nbsp; I cannot think why Wangdu allowed me to witness this handover but I was clearly no threat, a newly arrived world traveller with no understanding of the stakes nor any Nepali or <a href="https://nepalitimes.com/multimedia/tibetan-music-in-nepals-sacred-valley">Tibetan language</a>. Despite armed guards in the corridor,Wangdu radiated confidence and bravado, and there was a practiced familiarity to the tense transaction. This deadly dance for many years had been funded by the Americans, tolerated by <a href="https://nepalitimes.com/here-now/the-kingdom-within-a-republic">Mustang’s residents</a>, and permitted by King Mahendra and the Nepali authorities who it suited to turn a blind eye.&nbsp; But Mahendra died in 1972, and times were changing. Richard Nixon’s ping-pong diplomacy thawed the cold war and signalled a fresh entente with China. Nepal’s yet-to-be-crowned <a href="https://nepalitimes.com/here-now/if-birendra-was-alive-nepal-could-still-be-a-monarchy">King Birendra </a>was under pressure to curb the irritating incursions against the PLA launched from the Nepali territory of Mustang. Keen to appease his northern neighbour, on several occasions the King summoned Wangdu for peace talks but, despite increasingly overwhelming odds, Wangdu refused to surrender.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025052403054_a8efd5cfb92cd997bd7cb74296a936fef46e2f7428f9cd642b03f1ac4ea11ecb.jpg" data-media-id="editor_14" data-image-id="2025052403054_a8efd5cfb92cd997bd7cb74296a936fef46e2f7428f9cd642b03f1ac4ea11ecb" data-rendition-name="original" width="1055" height="885" loading="lazy" alt="The last days of the Khampa NT"> <figcaption>General Wangdu flanked by two Tibetan resistance fighters in Mustang in the 1970s. Photo courtesy: MIKEL DUNHAM</figcaption> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025052403054_75969125a745847a2ef82b6fe8b9106c0b21a116d85b8efdf5d2ee89a347bb31.jpg" data-media-id="editor_15" data-image-id="2025052403054_75969125a745847a2ef82b6fe8b9106c0b21a116d85b8efdf5d2ee89a347bb31" data-rendition-name="original" width="1044" height="792" loading="lazy" alt="The last days of the Khampa NT"> <figcaption>King Birendra with General Wangdu (right in dark glasses) taken in 1974 possibly in Mustang after one of their few attempts at negotiation. Photo courtesy: RAJRNDRA KUNWAR</figcaption> </figure>  While I naively rode pillion around Kathmandu in the spring sunshine, Wangdu was in the midst of what turned out to be his final round of negotiations with the Nepal government. Refusing to cease hostilities with the Chinese, Wangdu must have suspected the cost of his decision, making his cheerful smile in the photograph all the more poignant and brave. It was only much later that I appreciated the significance of the moment. Wangdu had been sent to replace the first resistance leader in Mustang, Baba Gen Yeshe, a much derided corrupt character who stole money meant for his troops and exploited fleeing refugees by seizing their treasures. Baba Gen Yeshe never forgave Wangdu,and sought revenge in May 1974 by betraying him and his commanders to the Nepal authorities. Renewed Chinese incursions from the north, active PLA collusion with the Nepali forces under the new King, and treachery from within the Chushi-Gangdrukranks combined to seal their fate.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025052403054_e0987a7c90d76431b0d7d5e6115ebfe3dbda7ab939e5941e079c18d722e884c0.jpg" data-media-id="editor_16" data-image-id="2025052403054_e0987a7c90d76431b0d7d5e6115ebfe3dbda7ab939e5941e079c18d722e884c0" data-rendition-name="original" width="1400" height="769" loading="lazy" alt="The last days of the Khampa NT"> <figcaption>British television journalists George Patterson and Adrian Cowell embedded themselves with Khampa guerrillas and accompanied them from Tsum Valley on a cross border raid on a Chinese Army convoy in 1964. Photo: ESSAYS ON NEPAL / SAM COWAN</figcaption> </figure>  Mikel Dunham, renowned author of Buddha’s Warriors, writes: ‘It is possible that Wangdu was waiting for some cue from the Dalai Lama’s government-in-exile in Dharamsala, India. It is equally possible – during that last, <a href="https://nepalitimes.com/multimedia/the-human-cost-of-nepal-s-yarsa-gold-rush?fbclid=IwZXh0bgNhZW0CMTEAAR31-Cqw8oyIwMPzf_35e4Skr0ululJvLf3_vDkzHn-AYG2h8uPw2rqqErg_aem_tGVn5coY1-jA7fze_xqhew">desolate winter </a>– that he made the decision to go out in glory rather than admit defeat. Over the last fifteen years, Wangdu had experienced Tibet’s organized resistance being squeezed and shoved around by every conceivable outside force.&nbsp; First they had been pushed out of their own country by the PLA; then they had been refused sanction while on <a href="https://nepalitimes.com/opinion/borderlines/nepal-india-trans-boundary-bonds?fbclid=IwAR0PpJ5zUEbwdug3g_U3ar6FUugngRY0S8Tl2v_7wqzrsHmXWcXsKjvL4t4">Indian soil</a>; then they were abandoned by the Americans because, apparently, Nixon wanted to make friends with Wangdu’s mortal enemies, the communists; then they had been betrayed by the vampiric Baba Gen Yeshe – a Tibetan and, even worse, a fellow Khampa; and now, finally Wangdu’s army was being evicted by the Nepalis. One thing was certain: Wangdu was a warrior. To imagine Wangdu simply giving up and settling down in the pacific squalor of a <a href="https://nepalitimes.com/here-now/elderly-left-in-bhutan-refugee-camp">refugee camp </a>was unthinkable.’  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025052403054_8fc1ffef4ae751628b90ae781b66e11e51e4fdde2787207c9042efbee345ce49.jpg" data-media-id="editor_20" data-image-id="2025052403054_8fc1ffef4ae751628b90ae781b66e11e51e4fdde2787207c9042efbee345ce49" data-rendition-name="original" width="500" height="746" loading="lazy" alt="The last days of the Khampa NT"> <figcaption>The much derided Baba Gen Yeshe, the first Tibetan resistance leader in Mustang, who betrayed Wangdu for personal gain. Photo courtesy: MIKEL DUNHAM</figcaption> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025052403054_b1d833cdb00d3ac4416b844d8730475cd88c238caaaf8da69889a584eea229a3.jpg" data-media-id="editor_21" data-image-id="2025052403054_b1d833cdb00d3ac4416b844d8730475cd88c238caaaf8da69889a584eea229a3" data-rendition-name="original" width="500" height="656" loading="lazy" alt="The last days of the Khampa NT"> <figcaption>Aditya SJB Rana of the Royal Nepal Army whose team ambushed Wangdu and his cohorts at the top of Tinker Pass in Darchula, West Nepal. Photo courtesy: GAUTAM SJB RANA</figcaption> </figure>  By August 1974 the game was up. Wangdu and six of his exhausted party were killed on their horses by <a href="https://archive.nepalitimes.com/news.php?id=7270">the Royal Nepal Army</a> on the brink of escape. The officer in charge, Aditya SJB Rana, cleverly predicted their route into India after they failed to silence a police radio in Yari. A carefully laid ambush trapped them near the summit of the Tinker Pass in Darchula,at 5,000 meters the highest military operation of its time. Wangdu’s body was helicoptered to Kathmandu, and a big show made of the royal Nepal victory.&nbsp; The Tibetan armed insurgency against China had reached its end.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250524030520_3ff9c6fc85a65bc9a2c3afe9736d9f5f9413de752e790a5d9dca0981ea94f9b4.jpg" data-media-id="editor_23" data-image-id="20250524030520_3ff9c6fc85a65bc9a2c3afe9736d9f5f9413de752e790a5d9dca0981ea94f9b4" data-rendition-name="original" width="1136" height="702" loading="lazy" alt="The last days of the Khampa NT"> </figure>

The Last Days of the Khampa

Starting 17 September Turkish Airlines will fly daily to Seville, one of Spain’s major tourist draws. This is Turkish’s sixth destination in Spain after Madrid, Barcelona, Valencia, Malaga, and Bilbao. Seville is in the Andalusia region on Spain’s south coast with a rich Moor history. There are approximately 30,000 Nepalis living in Spain.&nbsp;

Turkish to Seville

The newly-formed Himalayan Art Council is set to launch Nepal’s National Art Protection Platform that seeks to preserve <a href="https://nepalitimes.com/banner/the-history-of-heritage">Nepal’s unique cultural heritage </a>using<a href="https://nepalitimes.com/here-now/artificial-censorship"> AI-powered tools</a>. The Council seeks to safeguard <a href="https://nepalitimes.com/banner/nepali-art-going-places">Nepali art works</a> from neglect, theft and counterfeiting as well as preserve existing artwork and celebrate living masters by giving them a cultural space to continue the <a href="https://nepalitimes.com/banner/sacred-survival">sacred art traditions</a>. "We are introducing a new digital platform designed to preserve, verify and elevate <a href="https://nepalitimes.com/banner/nepals-new-generation-of-alternative-artists">Nepal’s art for generations to come,</a>” says a statement from the Council, adding that the digital platform will use AI told for authentication and blockchain to keep track of works of art. Artists can now be protected by <a href="https://nepalitimes.com/multimedia/ayo-ai?fbclid=IwAR1uwmTVq4gUB70ljfRezjzukD9ArWXPuMnUikopeQ8PoiZMjicToPSwhKE&amp;=1">AI tools</a> that detect forgeries, identify their work even when unsigned, and ensure they receive proper recognition and credit. The archives will be searchable with translated inscription and interactive guides. Says curator Meena Lama: “AI and blockchains are tools that give us the power to detect fakes and identify unsigned paintings and track every piece. With these tools we can restore trust, secure authorship and give artists the dignity they deserve.”  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250514170544_2ab58f6313c0458f75114a692b0016bd9efb3b59d5f8f07f0da72e1e37b82f53.jpg" data-media-id="editor_6" data-image-id="20250514170544_2ab58f6313c0458f75114a692b0016bd9efb3b59d5f8f07f0da72e1e37b82f53" data-rendition-name="original" width="1300" height="1000" loading="lazy" alt="Artwork at the Traditional Art Exhibition at Patan Museum."> <figcaption>Artwork at the Traditional Art Exhibition at Patan Museum.</figcaption> </figure>  The Council is also holding an exhibition of Nepali cultural masterpieces with 50 historical <a href="https://archive.nepalitimes.com/article/Nepali-Times-Buzz/Buzz-the-art,671">thangka and paubha </a>by past masters and <a href="https://nepalitimes.com/review/between-the-sacred-and-everyday">contemporary works by current artists</a>. This curated collection is a living tribute to <a href="https://nepalitimes.com/here-now/when-yaks-go-so-does-culture">Himalayan culture</a> with economic depictions of deities, mandala and sacred narratives. The exhibition at <a href="https://nepalitimes.com/multimedia/a-portal-into-patan-s-past-and-present">Patan Museum</a> also provides an opportunity to meet painters and custodians of art and culture. Read also: <a href="https://nepalitimes.com/review/golden-deities">Golden deities</a>, Sewa Bhattarai ‘The exhibition is only the first step in a long journey to ensure that Nepali art is no just seen but fully understood, <a href="https://archive.nepalitimes.com/article/nation/Narratives-of-Faith-and-Memory-Remembering-the-Lost-Sculptures-of-Kathmandu-exhibition,987">protected and remembered</a>,’ the Council says. Artist Kailash K Shrestha of Artudio has spent decades promoting thankha and paubha traditions because of their beauty and devotional meaning. But he also says artists are underpaid, exploited and ignored. He adds, “AI and blockchain are not just buzzwords, they are powerful tools that can protect Nepal’s artists from fraud, verify authenticity and build a permanent record of provenance.” Traditional Art Exhibition Till 17 May Patan Museum

Digital protection for Nepal’s art

<a href="https://www.instagram.com/prabalgurung/" target="_blank">Prabal Gurung</a> left Nepal for New York in 1999 to escape years of bullying, sexism and homophobia, and to pursue his dream of becoming a fashion designer. He <a href="https://www.youtube.com/watch?v=KqN0VaoAI5w" target="_blank">realised his dream</a>, but did not escape discrimination and racism in the new world. Propelled by passion for fashion, Gurung overcame everything America threw at him. He has attained <a href="https://www.vanityfair.com/style/story/prabal-gurung-recalls-his-first-met-gala-when-zoe-saldana-was-at-his-side?srsltid=AfmBOooy-H0oGgxMit864FnW_Pmw8mUnV8rYrh-co-f6OyYK6m2ip5hP" target="_blank">fame and recognition</a> for his haute couture dress designs while remaining true to his Nepali roots, and is even more resolute in <a href="https://www.youtube.com/watch?v=dSmNauyzACk" target="_blank">fighting prejudice</a> in all its forms. Prabal Gurung’s newly-released memoir <a href="https://www.amazon.com/Audible-Walk-Like-Girl-Memoir/dp/B0DG11HCDQ?fbclid=IwY2xjawKZfpxleHRuA2FlbQIxMQABHuZcIJO2OXyXcRm1oq1iG6wzeoF7VJFrQ7GXOFI0YxuZZ4id_CNvSZSZZIna_aem_pG_mOKG73RTnYvN8JaC4fA">Walk Like a Girl</a> is a saga of harrowing abuse in boarding schools in Nepal and India, only finding himself facing a different kind of bullying in the US. He prevails over it all to be where he is today: an award-winning American fashion designer with his own label. Walk Like a Girl was launched last week in New York at a time when everything Gurung fought for — tolerance, inclusion and diversity — are in retreat in his adopted country because of a president who has espoused a culture of bullying. The book is a searing, raw exposé of how cruel and abusive people can be even at a young age in school. On the other hand, it also shows that there are generous, compassionate and open-minded souls out there. In his book, <a href="https://www.youtube.com/watch?v=K4le_uWX7YE">Prabal Gurung</a> calls out those who tormented and tried to hold him back (some of their names have been altered). The moral of his story is: resist, never stop believing in yourself, do not let others define you, never lose sight of your dream, and help those who have been kept out. “Walk like a girl” was a slur used by bullies back in school in Nepal and India for Gurung’s effeminate ways. He fought back then, and he is still resisting by turning those words into something to be proud of.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250519170544_4ffc9c3f565dd2cfa754d10b224816897b82bb31ebaee91b6d79d469fc96f14e.jpg" data-media-id="editor_6" data-image-id="20250519170544_4ffc9c3f565dd2cfa754d10b224816897b82bb31ebaee91b6d79d469fc96f14e" data-rendition-name="original" width="1000" height="1253" loading="lazy" alt="Prabal Gurung NT"> <figcaption>Prabal Gurung at home in Kathmandu in the 1990s.</figcaption> </figure>  “Living through it all was one thing, but writing about it is one of the hardest things I have done in my life,” admitted Gurung during the launch. “I broke down constantly during the six-year writing process.” He continues: “I did not want this to be a victim’s book. I did not want to burden my readers with my emotions. I wanted my struggle to be an inspiration for others facing what I faced. I am grateful to those who bullied me in school, they made me a stronger person ready to face the world.” Indeed, this book is a departure from his earlier one titled simply, Prabal Gurung (Abrams, 2019), which was a lush pictorial autobiography of his career in fashion. Walk Like a Girl is not a typical fashion book, it is an intimate tale of <a href="https://archive.nepalitimes.com/news.php?id=16997">Gurung’s travails and triumphs</a>, and how he willed himself to succeed. Prabal pays a lavish tribute to his mother Durga Rana. We find out she is a descendant of the first wife of the eldest son of Jang Bahadur Rana who was banished to Palpa in the late 19th century. Prabal’s father served in the Singapore Police and that is where he was born before the family returned to Nepal when he was four. Gurung relates with brutal honesty about the violence his mother endured from his father. Durga raises three children as a single mother in Nepal, and Prabal credits her for his fierce determination to resist patriarchy and injustice, which in time manifests itself in his hyper-feminine and subversive dress designs. Writing the book has been a cathartic experience for Gurung, who says he is now relieved of the burdens of his past. It no longer haunts him, and he does not have to prove anything to anyone anymore. Walk Like a Girl has life lessons not just for the <a href="https://www.instagram.com/p/DJmOcSgxdWz/" target="_blank">fashion industry</a>, but for every other profession. How can my job serve a greater cause? Gurung tells us his work is <a href="https://asiasociety.org/blog/asia/why-designer-prabal-gurung-doesnt-want-just-stick-fashion" target="_blank">bigger than just making clothes</a>, it is about making the world a better place because it could do with a lot of improvement.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250519170544_d75296ad8bfdc00d88935f40d23543c6fea3d4d6a10e61a99d6cfc6127f2ee5b.png" data-media-id="editor_10" data-image-id="20250519170544_d75296ad8bfdc00d88935f40d23543c6fea3d4d6a10e61a99d6cfc6127f2ee5b" data-rendition-name="original" width="1516" height="1000" loading="lazy" alt="Prabal Gurung"> </figure>  This story of chasing the American dream may sound familiar to many immigrants: knocking on doors for jobs, rejections, trying to survive from day to day on expensive rent, and dealing with subtle racism in white America. Gurung finds racism is rife, and he is often mockingly called ‘gaysian’. He writes: ‘There was a strong hypocrisy — this idea of independence felt like a marketting ruse … and for all the talk of feminism in America, these high society women were trapped by the patriarchy just like in Nepal and India.’ After a trek to the Khumbu region in 2013, Gurung is inspired to use the colours, palette and textures of Nepal for his collection exhibited on Manhattan’s 8th Avenue. A major buyer tells him bluntly: “Stick to making pretty dresses … if I need to see a collection like this, I could buy a copy of National Geographic.” The New York Times was equally dismissive: ‘The designer tries to draw connections between blistered techo-fabric used to construct it and the topography of his homeland, Nepal. But, at the moment, he has lost his map.’ One potential investor tells Gurung he cannot design for Americana because “you do not look American”. Gurung wants to use expletives, but restrains himself. After a fundraiser in New York for the Nepal earthquake in 2015, some belittled his effort, saying: “Here comes the saviour."&nbsp; Read also: <a href="https://nepalitimes.com/review/prabal-gurung-by-prabal-gurung">Prabal Gurung by Prabal Gurung</a>, Kunda Dixit The Gurkha DNA must be dominant in Prabal Gurung’s genes because he does not take such mistreatment lying down. When asked by a fashion publicist why he was designing clothes for fat people, he snaps back: “Because of people like you.” He joins the Black Lives Matter and #MeToo movements, launches the Shikshya Foundation charity in Nepal, and has powerful allies among celebrities who wear clothes he designed: Michelle Obama, Oprah Winfrey, Sara Jessica Parker, Kamala Harris, Deepika Padukone … it is a long list.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250519150556_48a5f4211991a23fa85b64bbd5377575ca7081d97309d7542035591dda5180fe.png" data-media-id="editor_12" data-image-id="20250519150556_48a5f4211991a23fa85b64bbd5377575ca7081d97309d7542035591dda5180fe" data-rendition-name="original" width="1114" height="1534" loading="lazy" alt="Being Prabal Gurung by design"> <figcaption>Nigerian novelist Chimamanda Ngozi Adichie wearing Atelier Prabal Gurung’s design for Met Gala 2025 in which the theme was ‘Superfine: Tailoring Black Style’. </figcaption> </figure>  “I don’t dress women to look beautiful, they already are,” Gurung says. “I try to bring out their innate strength and grace.” <a href="https://www.instagram.com/stories/highlights/17908766880140171/" target="_blank">Admirers</a> tell Gurung he makes it all look so easy, but he used to put up a strong facade to not show his own vulnerabilities in public. “I was closed because of my childhood experiences,” he says. “I was always on guard to defend myself because I never knew where the next punch would come from.” But in <a href="https://www.youtube.com/watch?v=PPVepzPA210" target="_blank">Walk Like a Girl,</a> Gurung comes to terms with his vulnerability, and bares his soul. It has not been easy, it took sustained will power and support from his mother, sister Kumudini and a circle of close friends. “I made unbelonging my power,” he says. “Nepal is where I still have my heart and soul. Nepal grounds you. It is where people go to find themselves. But I escaped.” Recently appointed vice-chair of the <a href="https://cfda.com/about-cfda" target="_blank">Council of American Fashion Designers</a>, Gurung says: “I can’t believe I am here, it feels like it is happening to someone else. Writing this book, the healing has finally begun.” <h2>‘Everything is better in color’</h2> The Met Gala was two weeks later, and my table was an example of everything I’d been fighting for all these years as my guests represented everything I believed in: dynamic, powerful, influential women who were unapologetically original and unabashedly graceful. I was grateful to Anna for inviting me to host and dress a table that reflected my ethos—and for her guidance in doing so. I was also aware of the privilege as one of the first-­ever Asian fashion designers—not just from Nepal, but from the entire continent— to get the opportunity to do so. That fact was not lost on me. I reached out beyond the expected Hollywood celebrities and well-­known socialites to curate a table of exceptional women who inspired me. I invited Deepika Padukone and Alia Bhatt for their first-­ever Met Galas, as well as Michelle Yeoh, Mindy Kaling, Camila Cabello, Ashley Park, Denée Benton, KiKi Layne, Quannah Chasinghorse, and Grace Elizabeth. Together we checked many boxes: Asian, Black, Latinx, and Indigenous, each woman undeniably chic and powerful, a dazzling array of skin tones and experiences that proved my decades‑in‑the-­making hypothesis: everything is better in color. Excerpt from Walk Like a Girl Viking © 2025 by Prabal Gurung  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250519170520_6b91d560e9f072c37d16876901058c073a51ffa05e7ad1b9461d19e1c9c28215.jpg" data-media-id="editor_16" data-image-id="20250519170520_6b91d560e9f072c37d16876901058c073a51ffa05e7ad1b9461d19e1c9c28215" data-rendition-name="original" width="1136" height="702" loading="lazy" alt="Prabal Gurung book details NT"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250519170520_345240c21be400e2ce2ec629b52bd82bb53890e5bd86fe95b48340d84b5f1748.jpg" data-media-id="editor_17" data-image-id="20250519170520_345240c21be400e2ce2ec629b52bd82bb53890e5bd86fe95b48340d84b5f1748" data-rendition-name="original" width="1136" height="702" loading="lazy" alt="Prabal Gurung book details NT"> </figure>  &nbsp;