KATHMANDU: Nepal Rastra Bank (NRB) has revoked the licenses of three remittance companies. According to the central bank, the decision was taken based on non-compliance with the Remittance Regulations.
The remittance companies whose licenses have been canceled are Namaste Remit International Pvt. Ltd. (New Baneshwor), Modern Remittance Pvt. Ltd. (Kamalpokhari), and Bhatbhateni Money Transfer (Kantipath).
The NRB has urged individuals or organizations with pending remittance transactions involving these companies to report the details in writing to the Foreign Exchange Management Department within 35 days.
The central bank has clarified that if no written notification is received within the stipulated timeframe, the bank guarantees of these remittance companies will be released.