“Under the arrangement, Nepali traders can open letter of credit as well as transfer and receive money directly from China,” states a press release issued by the bank on Sunday. “This arrangement also facilitates remittance transfer between Nepal and China.”
EBL has already tied up with Standard Chartered Bank, American Express Bank, Citi Bank, Commerz Bank, JP Morgan Chase Bank, Punjab National Bank, and HDFC for the transaction of US dollar, Euro, British pound, Australian dollar, Japanese yen and Indian currency from 12 places in 7 countries, adds the release.
In this regard, Everest Bank organized importers´ meet on July 11 and deliberated on the facility introduced by the bank. A total of 55 businessmen conducting trade with China participated in the seminar.
Related story
Everest Bank adds features to Indo-Nepal Remit
