In a significant development for Nepal’s banking sector, Global IME Bank Limited and the International Finance Corporation (IFC) have signed an agreement to provide advisory services for advancing digital financial services and embedded finance models.
The agreement was signed by Mr. Surendra Raj Regmi, Chief Executive Officer of Global IME Bank, and Mr. Allen Forlemu, FIG, Asia and Pacific Regional Industry Director of IFC.
Strategic Partnership for Digital Transformation
Under this agreement, IFC, a member of the World Bank Group, will:
- Assess Global IME Bank’s digital transformation and data maturity
- Identify areas requiring improvement
- Provide strategic recommendations to enhance the bank’s digital banking capabilities
Additionally, IFC will conduct feasibility studies on fintech opportunities to promote embedded finance models and provide expert advice to Global IME Bank.
Following this understanding, the bank believes it will be easier to transform various services and facilities available in the bank and develop innovative and technology-friendly services.
Commitment to International-Standard Digital Banking
Speaking at the signing ceremony, CEO Surendra Raj Regmi reaffirmed Global IME Bank’s commitment to providing international-standard digital banking services to its customers. He expressed confidence that this agreement would not only help promote the bank’s digital banking but also support the development and application of new innovations in fintech.
Mr. Regmi further emphasized that IFC’s knowledge and experience in digital banking and fintech partnerships from around the world would take Nepal’s banking sector to new heights.
About Global IME Bank
Global IME Bank, recognized as Nepal’s best bank with the Global Finance’s Best Bank Award 2024 and Euromoney Award for Excellence 2024 in two categories, is the first private sector commercial bank with a branch network in all 77 districts of the country.
The bank currently serves its customers through more than 1,100 service centers, including:
- 355 branch offices
- 385 ATMs
- 237 branchless banking services
- 67 extension and revenue collection counters
- 3 foreign representative offices
In addition to providing banking services to Nepali citizens, the bank offers remittance services from various countries including the United States, United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, Kuwait, India, Jordan, and others.
IFC, a member of the World Bank Group, works to promote and develop the private sector, economic growth, and poverty reduction in developing countries.