Nepal Investment Mega Bank Limited (NIMB) has strengthened its presence in the international remittance sector by expanding strategic partnerships and enhancing digital services for Nepalis living overseas. In the second quarter of fiscal year 2082/83, the bank focused on its Prithvi Remit network to provide seamless, secure fund transfers for the Nepalese diaspora.
A key collaboration this season is with Aussie Forex and Finance in Australia, enabling Nepalese residents there to send money home with competitive exchange rates and simplified transfer fees. The partnership ensures that students and professionals abroad can remit their earnings efficiently and securely.
Premium Returns for Japan Remitters
NIMB also offers specialized incentives for funds sent from Japan. To promote formal banking channels, the bank provides a one percent interest rate premium on fixed deposits opened using remitted funds from Japan. As of Magh 2082, the Remittance Fixed Deposit account can provide returns of up to 6.00 to 7.50 percent depending on the tenure, allowing migrant workers to maximize their savings.
Investment Opportunities: Remittance IPO and SIP
Beyond traditional savings, NIMB encourages capital market participation among migrant workers. The bank facilitates Demat account openings for remitters, allowing them to apply for the ten percent reserved quota in Initial Public Offerings (Remittance IPO). This significantly increases their chances of share allocation and wealth creation through the Nepalese stock market.
Additionally, NIMB integrates Systematic Investment Plan (SIP) options within remittance savings accounts. Through SIP, customers can invest a fixed amount regularly into mutual funds managed by NIMB Ace Capital. Linking a Prithvi Remittance account with SIP automates investment, ensuring consistent capital growth over time.
Digital Banking Ecosystem
NIMB’s digital transformation is centered on the MoBank app and the Prithvi Remit portal, allowing customers to track remittance status in real time and manage investments globally. The bank also simplifies the opening of Janani Janmabhumi Dual Savings Accounts for both local and foreign currency needs. With a presence in all 77 districts and over 350 branches, families of migrant workers can easily access funds through any branch or payout agent.
Commitment to Financial Inclusion
NIMB’s initiatives reflect a strong commitment to financial inclusion and formal remittance channels. By offering higher returns on fixed deposits and investment options like Remittance IPO and SIP, the bank is not just a money transfer provider but a partner in the financial growth of Nepalese abroad. Whether sending funds from Sydney via Aussie Forex or from Tokyo through other remittance partners, NIMB ensures a secure, rewarding, and comprehensive banking experience supporting Nepal’s economic development.
