Boom Remittance signs agreement with Nepal Bangladesh Bank

September 11: Boom Remittance Pvt Ltd signed an agreement with Nepal Bangladesh Bank Ltd for the transactions of Boom Remit.

Dhirendra Pant, managing director of Boom Remittance, and Surendra Bhusan Shrestha, deputy general manager of Nepal Bangladesh Bank signed the pact on September 10. As per the agreement, the branches of Nepal Bangladesh Bank can make payouts of Boom Remit and its associated products and as well send/remit domestic transactions of Boom Remit from Boom Remit's software, reads a press statement issued by Boom Remit.

Boom Remit has more than 4,000 agents in all 75 districts of Nepal and Nepal Bangladesh Bank has 47 branches and 2 extension counters all over Nepal.

Boom Remit has been expanding its local networks in a very fast way and is also looking to expand its global markets as well, the statement said.

“Boom Remit has liaison with many banks in Nepal to open migrants’ accounts from abroad. Boom Remit has been educating and organizing banking awareness campaigns among the migrant workers abroad about the disadvantages of money laundering (Hundi) and its consequences,” the statement said.