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🇳🇵 Nepal /Economy & Trade

What we know—and don’t know—about Home Minister’s financial conduct

From Kathmandu Post · (2d ago) English Critical tone

Summarized and contextualized by DistantNews.

TLDR

  • Home Minister Sudan Gurung's financial conduct is under scrutiny following his rapid rise to power.
  • Banking records reveal significant transactions and shareholdings in micro-insurance companies, raising questions about the sources of his wealth.
  • Details surrounding past business dealings and the origins of his assets remain unclear, drawing public attention and criticism.

The Kathmandu Post delves into the financial dealings of Home Minister Sudan Gurung, a rising political figure whose wealth has become a subject of public interest and scrutiny.

Hami Nepal,” chaired by Sudan, maintained accounts at both Himalayan Bank and Nabil Bank. The Himalayan Bank account (006XXXXXX18) was closed in February 2025. Before its closure, it had a balance of Rs5.34 million, of which Rs3.09 million was transferred to the organisation’s account at Nabil Bank.

— Banking RecordsDetails on the financial activity of the non-profit organization 'Hami Nepal'.

Gurung's ascent, fueled by his leadership in the non-profit 'Hami Nepali' and success in the recent Gen Z movement, has been rapid. However, questions surrounding his past business activities and the sources of his wealth have intensified in recent days. Our investigation, based on new banking records, aims to clarify the established facts and lingering uncertainties about his assets and financial history.

At Nabil Bank, the organisation’s account (015XXXXXX74) received a total of Rs22.80 million between July 2021 and August 2025.

— Banking RecordsInformation on the total deposits into the organization's Nabil Bank account.

Records indicate that 'Hami Nepal,' under Gurung's chairmanship, handled substantial amounts of money through accounts at Himalayan Bank and Nabil Bank. Significant transfers occurred between these accounts and Gurung's personal account, including funds reportedly collected as COVID-19 assistance. Furthermore, large deposits from individuals like Chang Agarwal and Bijay Kumar Shrestha, labeled as loans, and subsequent transfers to micro-insurance companies where Gurung holds shares, have raised particular concern.

Records also show that Sudan’s personal account (311XXXXXX69) at Nabil Bank received around Rs6 million between May and June in 2021. The amount appears to have been collected from various sources as assistance during the Covid pandemic.

— Banking RecordsDetails on personal account deposits during the Covid pandemic.

The article highlights specific transactions, such as deposits from Agarwal and Shrestha, and Gurung's subsequent investment in Liberty Micro Life Insurance and Star Micro Insurance. The lack of clear disclosure regarding the sources of these funds, even when labeled as loan repayments, fuels public skepticism. This situation is particularly sensitive in Nepal, where transparency in political finance is a constant concern for citizens and a key issue for maintaining public trust in governance. The Kathmandu Post is committed to shedding light on these matters, providing the public with the information needed to understand the financial conduct of its leaders.

On August 5, 2021, Rs2.59 million was transferred from his personal account to the organisation’s account at Nabil Bank, indicating that aid funds were routed through his personal account.

— Banking RecordsInformation on the transfer of aid funds through Gurung's personal account.
DistantNews Editorial

Originally published by Kathmandu Post. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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