REMITTANCE AGREEMENT BETWEEN HIMALAYAN BANK LIMITED AND TRANGLO SDN BHD


Monday,July 04,2016

Himalayan Bank Limited (HBL), one of the leading commercial bank in Nepal and Tranglo Sendirian Berhad (Tranglo), Asia’s leading money transfer operator today announced for signing of partnership to offer inward remittance service to Nepal. This will at least benefit 2.2 million Nepalese working abroad as customers will now have more options than ever for sending funds home to friends and family in Nepal.

Himalayan Bank Limited (HBL) is a leading private sector commercial bank incorporated in 1993. HBL stands ahead in meeting customer demands through its continuous effort of tying banking products with world class technology. It is the first Bank in the country to introduce HBL Proprietary Credit Card, start international credit card issuance, acquiring business, ATM service and other banking products. HBL has 42 branches and 83 ATM booths at present across the country. HBL has its own remittance product, HimalRemit for inward remittance payment and domestic money transfer.

HimalRemit is a premium web based and real time remittance service of HBL featured with state of art technology. HimalRemit has more than 7,500 payment locations all across the country and more than 90 correspondent partners all over the world.

Tranglo Sdn Bhd (Tranglo), is incorporated in 2008 with headquarters in Kuala Lumpur and international offices in Indonesia, Middle East, and the United Kingdom provides platform to facilitate cross border transfer of prepaid credit and money remittance in a fast, easy and secure manner with presence of more than 80 countries. Tranglo is also financially backed by Ekuinas National Berhad (“Ekuinas”), a private equity fund management company established by the Government of Malaysia.

This partnership represents Tranglo’s maiden foray in Nepal’s remittance Market and with Nepal secured, Tranglo has now a total remittance payout network to 10 countries which includes, Indonesia, Philippines, Bangladesh, India, China, Sri Lanka amongst others.

Mr. Ashoke SJB Rana, CEO of Himalayan Bank Ltd. and Mr. Sia Hui Yong, Chief Executive Officer of Tranglo signed the agreement amidst a function.

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