Nepalese migrant workers in Qatar have urged Nepal Rastra Bank to streamline the process of sending remittances back home, to reduce transaction difficulties and costs.
A growing number of Nepalese migrant workers residing in Qatar have appealed to the Nepal Rastra Bank (NRB), Nepal’s central bank, to ease the procedures and regulations related to sending remittances to Nepal. These workers face challenges such as complex paperwork, high fees, and delayed transfers, which impact their ability to efficiently support their families back home.
Remittances form a vital part of Nepal’s economy, with millions of citizens working overseas contributing significantly through money transfers. The Nepalese community in Qatar, which includes thousands of laborers and professionals, contributes a substantial share to these inflows.
The migrant community’s request seeks NRB’s intervention to facilitate smoother, quicker, and more affordable remittance channels by possibly relaxing some regulatory hurdles, enhancing coordination with financial institutions, and encouraging competitive service providers.
Such improvements are expected to bolster the welfare of overseas workers and their families, ensuring that funds reach beneficiaries timely without excessive costs, thereby sustaining economic development in Nepal.
Sources referenced:
- https://therisingnepal.org.np/news/21102
