Nepal, May 1 -- The Department of Money Laundering Investigation (DoMLI) has requested detailed information on premium payments linked to the purchase of promoter shares of several microinsurance and reinsurance companies. The move comes as part of an ongoing probe into suspicious financial transactions.

According to a notice issued by the DoMLI, founding shareholders must disclose the source and details of payments made as premiums during purchase of promoter shares. The directive specifically targets investors of Nepal Micro Insurance, Guardian Micro Life Insurance, Crest Micro Life Insurance, Liberty Micro Life Insurance, Protective Insurance, Star Micro Insurance, Trust Micro Insurance, and Himalayan Reinsurance.

The department has...