Agreement between Muktinath Bikas Bank and NCHL

KATHMANDU: Muktinath Bikas Bank Limited and Nepal Clearing House Limited have reached an agreement regarding cross-border payments. According to the agreement, payments can be made in Nepal using Muktinath Bikas Bank's Nepal Pay QR and its interoperable merchant QR over the Alipay Plus network.

According to the bank, tourists visiting Nepal from countries such as China, Hong Kong, Singapore, Malaysia, Indonesia, the Philippines, Mongolia, Thailand, South Korea, Sweden, Italy, and others can easily make payments using the bank's Nepal Pay QR and its interoperable merchant QR through their domestic wallets.

To encourage digital transactions, Muktinath Bikas Bank has arranged for special discounts on withdrawals from any bank's ATM connected to the Visa network. The bank just introduced the 'Muktinath Bikas App', which allows customers to use 'Mobile Ek Faida Anek'.

The bank has stated that it is going to launch Nepal's first collective investment fund among development banks, Muktinath Mutual Fund, from 20th Mangsir.