GIBL partners with Bank of Albilad of SA

Kathmandu, Oct. 23

Global IME Bank has partnered with the Bank Albilad of Saudi Arabia for providing remittance service. The remittance service was formally inaugurated on Wednesday amidst a special function organised at the headquarters of Bank Albilad, Saudi Arabia.

With the formal inauguration of the remittance service, the customers can easily send money from Bank Albilad, Saudi Arabia, to Nepal at the best rate, said the GIBL.

Similarly, the money can be collected from all Global IME Bank branches, and more than 15,000 agent networks of IME and GME all over Nepal.

Speaking on the occasion, Nepali Ambassador to Saudi Arabia Prof. Dr. Mahendra Prasad Singh Rajput said that the partnership between two large banks of Nepal and Saudi Arabia would help channelise the remittance through banking channel and also help bring Saudi investment in Nepal.

Stating that there was favourable investment climate in Nepal, Singh said that the partnership of the two banks would also help promote Saudi investment in different sectors in Nepal.

Global IME Bank's Chairman Chandra Prasad Dhakal said that the partnership between the two large banks would ease the remittance service and also bring in the remittance through formal banking channel.

Earlier on May 27, an agreement was signed between the two banks. Mahesh Sharma Dhakal, Acting Chief Executive Officer of Global IME Bank and Omar Al-Hussain, General Manager of Bank Albilad Enjaz Division had signed on the agreement for their respective companies.

Global IME Bank has already partnered with different financial institutions in KSA, UAE, Qatar, Bahrain, Malaysia, India, UK, Australia, South Korea, Japan, and Jordan

Published in The Rising Nepal daily on 24 October 2019.