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Nepal’s central bank smells a rat in remittance from Mauritius

File image: Nepal Rastra Bank

Kathmandu, March 22

The central bank of Nepal has suspected that a Mauritian company sending remittance to Nepal is involved in illegal transactions.

The Nepal Rastra Bank has urged the Nepali individuals and remittance companies not to make transactions through M&M Remit. Nonetheless, they can take out the money from the company if any, according to the NRB Executive Director Ramu Paudel.

Paudel says the central bank has launched an investigation into the issue, without divulging details of the suspected fault.

“For now, we have directed against any transaction with the company. Further investigation is underway.”

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