MBL Remit Now Available at Joyalukkas Exchange in the UAE
24th November 2025, Kathmandu
Machhapuchchhre Bank Limited (MBL) has established a significant partnership to enhance remittance services from the UAE to Nepal by making MBL Remit now available through Joyalukkas Exchange.
MBL Remit Joyalukkas Exchange
This collaboration offers Nepali expatriates residing in the UAE a rapid, secure, and highly reliable channel to transfer funds back to their families and accounts in Nepal.
Key Features of MBL Remit via Joyalukkas Exchange
The partnership leverages Joyalukkas Exchange’s extensive network across the UAE and MBL’s broad reach in Nepal, ensuring both convenience and speed in the money transfer process.
Access Channels in the UAE: Customers in the UAE have multiple convenient channels for initiating money transfers. They can remit money by visiting any of the numerous Joyalukkas Exchange branches across the Emirates, or they can use the digital platforms, specifically the Web Remit service or the Joyalukkas Exchange mobile app. This versatility caters to both traditional and tech-savvy customers.
Speed of Transfer: MBL Remit is designed for immediate service delivery upon successful processing.
Bank Account Deposits: The funds can be deposited into any bank account in Nepal via an Inter-Bank Transfer system, typically within just 1 minute. This near-instant credit is crucial for beneficiaries needing immediate access to funds for emergencies or bill payments.
Cash Payout: Cash can be received instantly from a vast network of payout locations across Nepal.
Security and Reliability: The remittance service is highlighted for being fully secure and trusted. Utilizing established financial technology, MBL and Joyalukkas Exchange ensure the safe transmission of funds, mitigating risks associated with informal or slow transfer methods.
Wide Remittance Payout Network in Nepal
The strength of MBL Remit lies in its extensive and deep cash payout network, ensuring that beneficiaries, even in remote parts of Nepal, can easily access the funds sent from the UAE.
Advertisement
Machhapuchchhre Bank Network: The money can be instantly collected in cash from any of MBL’s own physical and remote touchpoints, including 165 MBL branches, 99 branchless banking units, and 11 extension counters. The branchless banking units are particularly vital for extending financial access to areas without a full-fledged physical branch.
Nationwide Agent Network: The reach is further amplified by a massive network of over 20,000+ remittance payout agents spread across Nepal. This unparalleled network density ensures that there is a nearby agent for cash pickup in virtually every locality, making it highly convenient for the final beneficiary.
Convenience for Beneficiaries: This dual access—instant deposit to any bank account or instant cash pickup from a huge network—makes MBL Remit one of the most convenient and robust inward remittance services for Nepalis receiving funds from the Middle East.
Strategic Importance of the UAE Remittance Corridor
The UAE is a critical source of remittance income for Nepal, hosting a large population of Nepali migrant workers. Partnerships like this one between Machhapuchchhre Bank and Joyalukkas Exchange are strategically important for the Nepali economy.
Economic Stabilization: Remittance flows are the largest contributor to Nepal’s foreign exchange earnings, playing a vital role in stabilizing the country’s balance of payments. Providing efficient, formal channels encourages workers to send money legally, supporting the national economy.
Increased Competition: The introduction of this high-speed service increases competition in the UAE-Nepal remittance corridor, generally leading to better exchange rates and lower service charges for the migrant workers.
Financial Inclusion: By leveraging MBL’s extensive network, especially the branchless banking units, the service promotes financial inclusion by bringing formal banking services closer to rural populations who are often the primary recipients of these funds. This encourages recipients to open bank accounts for direct deposit, further formalizing the banking sector.
The collaboration represents a strong push by Machhapuchchhre Bank to capture a larger share of the essential remittance market from the Gulf region, emphasizing speed, security, and a vast local distribution network.
For More: MBL Remit Joyalukkas Exchange
