Kathmandu. In a significant step for Nepal’s remittance sector, Nepal Remitters Association (NRA) has signed an agreement with Malaysian Association of Money Services Business (MAMSB).

This collaboration demonstrates the growing international trust and recognition of Nepali remittance companies in the global financial sector. The two associations will work together to strengthen the money services business sector, expand cooperation, and promote growth.

The MoU will focus on improving industry standards through knowledge exchange, cross-border cooperation, and international best practices.

MAMSB President Dato’ Jazakhan bin Quader Ghani and NRA President Ritesh Mittal discussed ways to improve regulatory compliance, promote innovation, and address common challenges such as digital transformation, regulation of illegal operators, and consumer protection.

Speaking on the occasion, NRA President Ritesh Mittal said, “This partnership is a historic achievement for the remittance industry in Nepal. Collaboration with MAMSB will strengthen regional ties, facilitate knowledge sharing, and promote innovation. Ultimately, it will benefit Nepali workers in foreign employment and Nepal’s overall economy. ”