Nabil Bank signs MOU with Nepal Mobile Distributors Association; MoU to benefit mobile phone traders with SME loan facility

Nepal’s leading commercial bank, Nabil Bank has collaborated with Nepal Mobile Distributors Association to provide Channel Financing Loan along with various other SME loan facilities to its registered members.

Under this strategic partnership, the associated mobile distributors across the nation shall benefit through the Channel Financing facility, which connects the network of retailers of registered mobile distributors with the bank and provides assured working capital limit as Channel Financing loan with attractive pricing & collateral comfort. The major attraction of the Channel Financing loan is that it allows distributors to receive the full value of bills issued to the retailers through banking financing. Furthermore, the registered members can avail various other SME loan facilities to meet their financing requirements for sustainable growth.

Mr. Niraj Kumar Basnet (Danil), Nabil Bank’s Head - SME & MF Division and Mr. Dinesh Chulyadyo, President of NMDA, Kathmandu have signed the Memorandum of Understanding on 14 March 2022 at Nabil SME & MF Hub, Tripureshwor in the presence of Mr. Manoj Kumar Yadav, Nabil Bank’s Manager - Microfinance Division and Mr. Gri Nath Tripathi, NMDA’s General Secretary.

Speaking about the partnership, Mr. Basnet (Danil) stated ‘Nabil Bank is focused towards providing financial services to the general public and businesses through credit creation and facilitating them as required so as to ensure sustainable growth of this segment. Through this partnership with NMDA, the Bank aims to support its members in managing their working capital and cash flow shortages through Channel Financing loans and various other SME Loans so as to improve the sustainability of the SME business sector which has been severely impacted by the COVID-19 pandemic.