Al Ahalia Exchange, a UAE-based company providing remittance services, and IME Pay have reached an agreement for a P2P money transfer service. After the understanding, Nepali citizens who remit through IME can send the amount directly to the recipient’s IME Pay Wallet. After this agreement, Al Ahalia Exchange will be the first exchange to send money directly to Nepal from UAE through IME Pay wallet.
This understanding is another important step for both companies in digital transformation. This has provided an opportunity for its clients in the UAE to connect to digital platforms. This opportunity has provided a new facility for the service recipients to receive remittances sent from Al Ahalia Exchange UAE directly to IME Pay wallet in Nepal.
Mr.Kamal Subba, Acting General Manager of Al Ahalia Exchange, said that he was happy to reach an agreement with IME Digital Solution Ltd. and IME Limited to receive the remittance in IME Pay Wallet from millions of Nepali citizens scattered across the UAE for employment or business. Acting General Manager Subba added remittance can be sent directly to the recipient’s IME Pay registered mobile number. Mr.Hem Raj Dhakal, Chairman of IME Digital Solution Ltd., a leading company of the IME Pay brand, said that it was very important for the recipients to be able to securely receive money in their wallets during the Corona Virus (Covid-19) pandemic. Stating that UAE is the main source of remittance to Nepal, Chairman Dhakal expressed confidence that UAE’s contribution to remittance to Nepal would increase with the expansion of this service.
Nepal is considered to be the largest market in South Asia in remittance, which receives more than eight trillion remittances annually. Given that Nepal’s remittance market has been a top priority for the current exchange, the agreement is believed to add more convenience to the beneficiary. In order to encourage this service, IME Digital provides up to Rs. 60 as a bonus to the recipient in the IME Pay Wallet for the remittance sent through Ahalia Exchange UAE.