The Nepalese embassy in the United Arab Emirates has officially urged its nationals to avoid engaging in unauthorized remittance channels, warning of legal and financial risks associated with illegal hundi transactions.
The Embassy of Nepal in the United Arab Emirates has issued an official advisory cautioning Nepalese citizens against using illegal hundi or informal money transfer services. This move comes in response to concerns over the growing use of unregulated channels for sending remittances back to Nepal.
According to the embassy’s statement, illegal hundi transactions circumvent formal banking and financial systems, potentially exposing senders and receivers to risks including fraud, money laundering implications, and loss of funds without legal recourse. The embassy emphasizes that remittances routed through official banking channels ensure security and compliance with financial regulations, ultimately benefiting workers and their families.
The advisory aims to raise awareness among the significant Nepalese expatriate population in the UAE, a key source of remittance inflows vital to Nepal’s economy. Official remittance flows contribute to development and economic stability, while illegal transfers undermine these benefits and contravene financial laws.
The embassy encourages Nepalese workers to utilize authorized financial institutions for all money transfer needs and seek official guidance if uncertain. This measure aligns with wider efforts by Nepalese authorities and international partners to strengthen financial integrity and protect overseas workers’ interests.
This alert is particularly relevant to the large Nepalese labor community in the UAE and surrounding regions, where remittances form a substantial part of household incomes back home. Using regulated channels supports safer and more transparent financial transactions.
Sources referenced:
- https://news.google.com/rss/articles/CBMi1wFBVV95cUxPNldYQ0tWNWc3dVBfWU50UkVRUHR2LVNwNFlQVzRVcVhkbzEtZWRNcmtDYkpuc3ZROFctNFl0RGs0ME9Wdm9ZRXBtNzFITDFPbUJ2a0U3LUdYbWg3Q2V6VWtzb1MyZ0xZeFA4TUN4TlNsVTBjcy1feHJsWERWZVFzcEQ1V0JlTDR3bjVzVlBwNWhadl9jWjFUX0JXWU1lT19aS1NNZzhLQ0cwWUo5bXFTSEFNMFBXcUFYNmc1anRNTjhCU2RCS3ZLNTNKZ1FfSzcxZzFUS0t1TQ
