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UKaid Sakchyam and IME Digital Solution to provide Mobile Financial Services

image003At a programme on Wednesday, IME Digital Solution Limited and UKaid Sakchyam Access to Finance Programme (Sakchyam) have inked an agreement for the introduction of the mobile financial services in Nepal. Governor of Nepal Rastra Bank, Dr. Chiranjibi Nepal was the Chief Guest at this partnership signing ceremony.
According to a press release this partnership aims to introduce a mobile financial service to IME’s existing remittance receiver client base of over 600,000 households as well as prospects beyond remittance network across Nepal. Through this initiative, IME will be partnering with Mobile Network Operators (MNOs), agents within and beyond its remittance network, commercial banks, BLB agents and merchants to reach out to the financially excluded sub-urban/rural, under-banked and unbanked populations.
Governor, Dr. Chiranjibi Nepal remarked, “I believe the introduction of this innovative and one-of-a-kind payment service is a leap towards transitioning from traditional remittance payment system to mobile financial services based payments. I am hopeful that this will increase access to financial services to the underserved population of the country. These services are expected to contribute an estimated amount of Rs. 50 billion in the government’s revenue and also help foster financial transparency and ease monitoring of financial system. NRB is committed to provide all necessary regulatory support and we would also like to request NTA and the telecom operators to facilitate mobile financial services in Nepal. ” reads the statement.
Highlighting the success of IME in the remittance sector, Chandra Prasad Dhakal, Executive Chairman of IME Group, said, “IME has been playing a lead role in channelizing remittances in Nepal and with the partnership with Sakchyam for its new digital financial services initiative, IME aims at providing financial access the un/under banked population of Nepal thereby contributing to financial inclusion.”

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