Commercial Bank UNISTREAM and Kumari Bank launched remittances in Nepal

26.08.2010

Moscow based Commercial Bank UNISTREAM and Kumari Bank Limited have launched a joint integration project to provide inbound remittance services in Nepal.

Commercial Bank UNISTREAM is an organizational and operational center for the international money transfer system UNISTREAM.

The senders can now send money from any UNISTREAM’s location around the globe, and payee can pick up the cash in any branch of Kumari Bank across Nepal.

After the completion of all organizational and operational stages, the project is expected to give the clients easy and direct access to the UNISTREAM cash-to cash inbound services in over 300 locations in the country.

The two parties believe that the clients will enjoy convenient, fast, reliable services with affordable rates applied.

“Integration with the well known Kumari Bank is a very important step to further build up our network in Asian region where the system has already launched unprecedented projects in China, Bangladesh and Sri Lanka. The system’s special interest in Nepal is due to the serious and increasing role the country plays in the world tourism and migration,” the Senior Vice President of international development for UNISTREAM, Shekhar Nair said in his comments to the project’s commencement.

“As an ambitious and rapidly developing market player, our system puts its best foot forward to actively participate in development of the official regional money transfer market.”

“Cooperation with UNISTREAM that operates in 95 countries around the globe helps us provide our clients one more convenient and affordable option expending the product line,” said Radhesh Pant, CEO of Kumari Bank.

Kumari Bank Ltd has been providing a wide spectrum of modern banking services through its points of locations in various urban and semi urban part of the country. The bank is known for being a pioneer in providing some of the latest and lucrative banking services like E-Banking and SMS Banking services in Nepal.

With operational and organizational center in the Moscow-based Commercial Bank Unistream, the money transfer system operates over 190 000 service points world wide. In partnership with over 300 financial institutions, UNISTREAM is known for successful development of its own networks in Russia, UK, Cyprus, Greece and Germany.



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