Prabhu Money Transfer P. Ltd (Prabhu) is a leading remittance company registered in Nepal and having many international branches/agents in different parts of the Asia and North America. Prabhu is a very popular and reputed money transfer organization among the Nepalese in Malaysia, Qatar, Saudi Arabia, Kuwait, UAE, USA and other countries. Prabhu is reputable and well-known brand name (synonym) of remittance for Nepal among Nepalese Labors and residents in Foreign Countries.
With the increase in the number of Nepalese national going abroad for employment, the scope of remittance business in the country has grown in recent years. To serve this market, Prabhu Money Transfer Pvt. Ltd. was established in the year 2002. In a short span of time the Prabhu has been able to capture a good market share and is now one of the leading money transfers from Gulf, Malaysia and North America.
The flagship venture, Prabhu Money Transfer (Nepal) is one of the top remittance companies of Nepal. The company has more than 2500+ locations spread all over the country. The company has tie-ups with almost all major banks of Nepal (Nepal Bank, Rastriya Banijya Bank, Agriculture Development Bank, SBI Bank, NIC Bank, Machapuchare Bank, Bank Of Kathmandu, Bank Of Asia Nepal, Civil Bank, Grand Bank Nepal, Kumari Bank, NMB Bank etc), Development Banks, Finance Company, Cooperatives and Private Companies in Nepal for instant payment distribution and account deposit to all banks and financial institutions in Nepal. The company has plan to add additional 2000+ Networks of Cooperative for instant payment by end of 2013.
Nepal is a mountainous country and one of the major sources of income of the country is also based on inward remittance. A huge chunk of remittances have been brought to Nepal by Prabhu more than 80,000 inward transactions per month mainly from Gulf Countries and all over the world. Prabhu is a very popular company in Gulf and working with various exchange houses for the remittance business purpose. Prabhu have deployed many staff to the different exchange houses for marketing and as counter tellers for remittance system operation. Prabhu in Nepal operates the internationally recognised Prabhu systems which have tie-ups with State Bank of India (SBI) and other Indian Banks (total of 65,000 locations of any Bank Branch transfer) can remit to Nepal through Reserve Bank of India’s National Electronic Fund Transfer (NEFT) system. Prabhu has ties with Tahweel Al Rajhi (Saudi Arabia).