Tag: MoU

  • Citizens Bank Partners with Vinayak Hospital: Up to 10% Discount for Cardholders & Mobile Banking Users

    Citizens Bank Partners with Vinayak Hospital: Up to 10% Discount for Cardholders & Mobile Banking Users


    Introducing an exclusive partnership between Citizens Bank International Limited (CZBIL) and Vinayak Hospital & Maternity Home Pvt. Ltd., Tokha, Kathmandu! As of 19th Magh 2080, customers holding Citizens Bank International cards or utilizing mobile banking services are in for a treat. With the newly signed Memorandum of Understanding (MoU), Vinayak Hospital extends a generous discount of up to 10% on a wide array of medical services. This collaborative effort aims to prioritize the well-being of CZBIL customers, providing them with accessible and affordable healthcare at Vinayak Hospital & Maternity Home, ensuring peace of mind for both cardholders and mobile banking users alike. Your health matters, and with this exclusive offering, CZBIL is committed to enhancing your healthcare experience.

     

  • “Prabhu Capital Partners with Total Physical Fitness Centre to Offer 28% Discount to Demat Holders”

    “Prabhu Capital Partners with Total Physical Fitness Centre to Offer 28% Discount to Demat Holders”


     

    Prabhu Capital has entered into an agreement with Total Physical Fitness Centre to offer customers a 28% discount and a complimentary sauna coupon. This exclusive deal can be accessed by clients of the merchant bank by providing their demat service number. The Memorandum of Understanding (MoU) was formalized during a ceremony, involving Prabhu Capital’s CEO Mr. Aasis Gauchan and Total Physical Fitness Centre’s MD Mr. Suman Pandit, according to a media statement.

  • “Kumari Bank Partners with Classic Industries for 15% Mattress Discount”

    “Kumari Bank Partners with Classic Industries for 15% Mattress Discount”


     

    Kumari Bank has partnered with Classic Industries to offer a generous 15% discount on mattresses to their cardholders and mobile banking users. This special deal aims to benefit customers making purchases from the company.

    Kumari Bank operates through an extensive network comprising 304 branches, 307 ATM outlets, 63 branchless banking units, and 49 extension counters, providing widespread access and convenience for its customers.

     

  • FonePay IPO : Signs MOU with NMB Capital as IPO Advisor

    FonePay IPO : Signs MOU with NMB Capital as IPO Advisor


    FonePay, the driving force behind Nepal’s digital payment system, is making significant strides towards launching its initial public offering (IPO). The company’s CEO, Diwas Sapkota, announced the collaboration with NMB Capital, leveraging their expertise to prepare for the IPO and inspire other tech companies in Nepal. With over 1.7 million mobile banking app and digital wallet users, FonePay has become an integral part of the country’s digital economy, transcending traditional payment methods.

    FonePay’s Expansion and Impact

    As FonePay expands its reach to all local levels across Nepal’s seven provinces, it solidifies its position as a key player in the digital economy outlined in the Digital Nepal Framework. Its seamless QR code scanning payment service has transformed the way people transact, fostering a greater dependence on virtual money over physical cash. With a vast network of 1.1 million merchants and facilitating daily transactions worth over Rs 5 billion, FonePay has garnered the trust of over 60 banks and financial institutions.

    FonePay’s IPO Announcement

    While the exact date for FonePay’s IPO announcement is yet to be determined, the groundwork for the IPO has already commenced. Sapkota emphasizes that FonePay aims to set a benchmark for the technology sector in Nepal, inspiring other companies to follow suit. By partnering with NMB Capital, FonePay secures the support and guidance required to achieve its vision of drawing in public investments.

    Lastly, FonePay’s upcoming IPO marks a significant milestone in Nepal’s technology sector, setting a precedent for other companies in the industry. With NMB Capital as their consultant, FonePay is well-equipped to navigate the IPO process successfully. As the digital payment leader, FonePay continues to revolutionize payment behaviors, empowering users with convenient and secure transactions. Keep an eye out for the IPO announcement, as FonePay prepares to unlock new growth opportunities and expand its influence in the dynamic landscape of digital payments.

  • Federal Reinsurance Brokers Limited enters an agreement with the Banking Finance and Insurance Institute of Nepal to strengthen the insurance sector’s capability.

    Federal Reinsurance Brokers Limited enters an agreement with the Banking Finance and Insurance Institute of Nepal to strengthen the insurance sector’s capability.


     

    On April 13, 2023, Federal Reinsurance Brokers Limited and Banking Finance and Insurance Institute of Nepal Limited signed a Memorandum of Understanding (MOU) to form a long-term strategic alliance in the areas of training, research, and consulting for the insurance sector’s capacity development. Ms. Alpana Sharma, Company Secretary, and Mr. Saurav Baral, Research Analyst of FRBL, and Ms. Nishu Bhagat, Manager, and Mr. Matiram Paudel, Account and Admin Officer of BFIN, signed the Memorandum of Understanding.

     

  • National Life Insurance has released new bonus rates, with a maximum bonus of Rs 85 per Rs 1000 insured amount.

    National Life Insurance has released new bonus rates, with a maximum bonus of Rs 85 per Rs 1000 insured amount.


     

    National Life Insurance Company has announced bonus rates ranging from Rs 63 to Rs 85 per Rs 1000 for its insured customers.

    According to the information, the company will offer a Rs 63 bonus for up to 9 years of life insurance, Rs 64 for 10 to 20 years, Rs 70 for 21 to 25 years, and Rs 85 for 26 years and above per Rs 1000 of insured amount. According to the media statement, the company will also provide Rs 64 for up to 9 years of term insurance and full life insurance, Rs 64 for 9 to 20 years, Rs 70 for 21 to 25 years, and Rs 85 for 26 years and above.

     

  • Mahalaxmi Bikas Bank introduces new home and business loan schemes, lowering the interest rate to 12.99% with a special service charge discount.

    Mahalaxmi Bikas Bank introduces new home and business loan schemes, lowering the interest rate to 12.99% with a special service charge discount.


     

    In addition to the new year’s special offer, the bank is offering a 0.25% discount on the service charge for both of these loan schemes for female home/business owners for a limited time. According to the media statement, borrowers can also receive up to 100% of the cost of the home/building as a loan for a maximum of 30 years, as well as a special discount on the service fee.

    According to the media statement, the bank will provide loans for entrepreneurs with the best valuation of property, loan amount disbursed beforehand, and an attractive discount on in-service charge.

  • All 5 NIC Asia Capital Mutual Fund Schemes have published the Falgun Month NAV Report.

    All 5 NIC Asia Capital Mutual Fund Schemes have published the Falgun Month NAV Report.


     

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    The financial highlights for the month of Falgun have been published by NIC Asia Balanced Fund (NICBF), a 10-year close-end mutual fund scheme managed by NIC Asia Capital. The period’s NAV was Rs. 10.73, which was lower than the previous month’s NAV of Rs. 11.26.

    The scheme started with a Rs. 75.50 crore fund, including seed capital from the fund sponsor. The scheme has spent Rs. 43.10 crores on listed company shares and Rs. 19.52 crores on debentures. Non-listed shares are worth Rs. 1.34 crores. The amount invested in fixed deposits is Rs. 9 crores, and the bank balance is Rs. 4.38 crores.

     

  • Jeevan Bikas Laghubitta Calls AGM on Chaitra 30; Proposed Dividend of 33.15% Reduced to Only 14.999%

    Jeevan Bikas Laghubitta Calls AGM on Chaitra 30; Proposed Dividend of 33.15% Reduced to Only 14.999%


    Jeevan Bikas Laghubitta Bittiya Sanstha Limited (JBLB) has scheduled its 4th Annual General Meeting for 30th Chaitra, 2079. The meeting will be held in the company’s head office located at Katahari, Morang, starting at 10:30 PM that day.

    Among the other items on the agenda, the AGM will approve a 14.99% dividend for fiscal year 2078/79. The company decided to pay out a dividend of Rs. 1.03 Arba on its paid-up capital. The proposal includes 14.285% bonus shares worth Rs. 14.77 crores and a 0.714% cash dividend worth Rs. 73.87 lakhs. The tax amount levied on the dividend is included in the

     

  • Imports and exports both fell in the first eight months of fiscal year 1979/80.

    Imports and exports both fell in the first eight months of fiscal year 1979/80.


    The first eight months of Nepal’s fiscal year 2079/80’s foreign trade statistics have been released. According to government data released on Wednesday, Nepal’s trade deficit fell by 17.86 percent to Rs. 9.53 Kharba from Rs. 11.60 Kharba the previous year.

    The trade deficit is the amount by which a country’s imports cost more than its exports.

    One of the major causes of the national economy’s downturn is the trade deficit. Nepal has been experiencing an imbalance in import and export factors.

     

  • Last day to deposit remaining payment of Trishuli Jal Vidhyut Company IPO shares

    Last day to deposit remaining payment of Trishuli Jal Vidhyut Company IPO shares


    Trishuli Jal Vidhyut Company Limited (TJVCL) will begin collecting the remaining sum for the shares offered to the general public today, the 17th of Falgun. The collection began on 18th Mangsir, 2079.

    From the 7th to the 11th Chaitra, 2075, the company issued 3,705,000 units of IPO shares with a par value of Rs. 100 and an initial call amount of Rs. 10.

    Employees received 3% of the total 3,705,000 units, or 111,150 unit shares, with the remaining 3,593,850 unit shares issued to the general public.

    Investors could purchase shares by paying only 10%, or Rs. 10, of the share value, with the remaining 90%, or Rs. 90, to be paid later.

  • Starting today, Prabhu Bank will be selling 46,74,396 units of promoter shares to the general public and institutions.

    Starting today, Prabhu Bank will be selling 46,74,396 units of promoter shares to the general public and institutions.


    From now, that is, on 12 Falgun through 26 Falgun, 2079, the current promoters of Prabhu Bank Limited (PRVU) are selling its 46,74,396 unit promoter share at an auction.

    There will be an auction for 46,74,396 units of promoter shares. In an auction, bids may be submitted by institutions, businesses, or individual investors. The minimum bid is Rs. 123. 10,000 units are the required minimum bid amount for promoter shares. Bidders are allowed to offer for the full issue, but they must adhere to the Nepal Rastra Bank’s guideline that they cannot offer for more shares per entity than what is allowed.

    The auction manager is Prabhu Capital Ltd. On Falgun 27, at the auction manager’s location, bids will begin to be accepted at 11 a.m.