Machhapuchhre signs MoU with Industrial Bank of Korea

November 5: Machhapuchhre Bank has signed an agreement with Industrial Bank of Korea to send remittance to Nepal through legal channel. Currently, money is being sent to Nepal from South Korea through hundi, which is illegal according to the laws. Chief of Industrial Bank of Korea Wu Dong Ho and Machhapuchhre Bank’s Deputy General Manager Santosh Koirala signed the Memorandum of Understanding amid a function at the Korean bank’s head office. Nepal’s Ambassador to South Korea Arjun Jung Bahadur Singh inaugurated the remittance service. Now, people in Nepal can receive the money sent from South Korea through any branch of the Machhapuchhre Bank.