Kathmandu, Aug. 14
IME Limited started the joint operations on Wednesday after
the merger of IME Limited and GME Remit.
Deputy Governor of the Nepal Rastra Bank, Bam Bahadur
Mishra, Chairman of IME Limited, Chandra Prasad Dhakal, launched the integrated
business of the company in a programme held on Wednesday. The paid-up capital
of IME after the merger has exceeded Rs. 1 billion.
Inaugurating the integrated business, Deputy Governor Mishra
said that the contribution of IME remittance in building the formal economy was
strong which was as per the priority of the central bank. He said that the
merger would also contribute to making the remittance service easier and more
technologically advanced.
Chairman of IME, Dhakal claimed that the IME has played a
pivotal role in the transformation of the money transfer industry.
He said that IME had been at the forefront of efforts to
formalise Nepal's remittance sector, significantly shifting the majority of
remittance flows from informal to formal channels.
"When we started, only about 20 per cent of remittances
were formal. Today, nearly 80 per cent of remittances are channelled through
formal means, and IME has been a key driver of this change," he said.
He highlighted the company’s efforts to provide a secure,
reliable medium for Nepali migrant workers to send money home, addressing the
risks associated with informal channels.
He also noted that IME Group now commands approximately 50
per cent of the remittance market in Nepal and has expanded its operations into
various sectors, including banking, tourism, and infrastructure development.
On that occasion, Hem Raj Dhakal, who became the chairman of
IME Limited after the integrated operations, expressed his commitment to move
forward as a stronger digital remittance leader.
Chief Executive Officer of IME, Diwakar Paudel, expressed
his commitment to make the overall remittance service simpler, easier and more
technologically advanced after this merger.
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