Nepal Rasta Bank Considers Reimbursing Remittance Fees

Sending Remittances to Nepal

The Nepal Rastra Bank (NRB) recently asked the government of Nepal to subsidize or otherwise reimburse fees associated with money remittance. Bank officials assert that such assistance may encourage workers to use formal, safe mediums to transfer money. Currently, the country faces a major problem with illegal money transfers and smuggling. Continue reading Nepal Rasta Bank Considers Reimbursing Remittance Fees

Remittance to Philippines Skyrockets

Money Transfers to the Philippines

Filipinos living around the world sent more money home last December than ever before. Cash remittances to the Philippines have grown by 6.6% yearly. These international transactions reached $2.317 billion in December — the most the Philippines Central Bank has recorded since 1970! Continue reading Remittance to Philippines Skyrockets