KBL, BoK in remittance pact

Kumari Bank Limited (KBL) and Bank of Kathmandu (BOK) have signed an agreement to provide remittance service of Kumari Remit -- the remittance business of KBL. According to a press statement, as per the agreement, BoK will provide Kumari Remit service from its network of 50 branches. Uday K Upadhyay, acting CEO of KBL and Prabin Prakash Chettri, COO of BOK, signed an agreement. "KBL has been providing inward remittance from Qatar, UAE, Malaysia, USA, Russia and other Gulf and European countries," the statement said. The fund remitted by migrant workers through Kumari Remit from any part of the world can be received by their relatives in Nepal from a network of more than 1,000 agents of KBL along with branch network of BOK, according to the statement.