Civil Bank OF Nepal And IOM Agrees To Jointly Work For Safe Migration

10 May 2014

The Civil Bank in Nepal has entered into a formal agreement with the IOM (International Organization for Migration), for the purpose of contributing to the government’s efforts in employment generation, etc. The other major area that it will target is in providing a platform/environment for safer migration by way of public private partnerships in migration management.

This agreement was signed between Kishore Maharjan Civil Bank’s CEO, and Maurizio Busatti, Chief of Mission of IOM,. IOM seeks to provide financial literacy training in areas such as financial management skills, savings, household budgeting and investment to remittance receiving households. It does all of the above by way of providing better coordination between financial institutions to expand their reach among groups and better assist those groups which are not being served well at present, particularly in places where there is high labour migration.

It is also the bank’s objective to take the assistance of the required resources and provide training and also conduct sessions in areas such as banking, financial services and schemes at the community level.

There are many other objectives of the bank and these include conducting research, coming up with useful financial products and services based on the requirements of those migrants who are returning and the remittance receiving households. It seeks to do the same (i.e. conduct research, develop products, etc.) for small enterprises involved in the agriculture and livestock sectors. 

The bank will provide the above to the target groups or clients based on permission obtained from the Nepal Rastra Bank. It will also make efforts to introduce latest products and services that will be put forth for the benefit of the beneficiaries.

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