In a landmark move to enhance the scope and effectiveness of their services, Nepal Micro Insurance Company Ltd. (NMIC), head office in Chitwan, has entered into a Memorandum of Understanding (MoU) with Kamana Sewa Bikas Bank Ltd., based in Gyaneshwor, Kathmandu. The partnership aims to explore and undertake collaborative business ventures that benefit both organizations and their respective customers.
The MoU was formally signed by Mr. Mrigendra Rimal, CEO of Nepal Micro Insurance Company Ltd., and Mr. Hari Prasad Lamsal, DGM of Kamana Sewa Bikas Bank Ltd., during a ceremonial event. Present at the signing was Mr. Anil Raj Giri, Deputy CEO of NMIC, who witnessed the proceedings and highlighted the
significance of this partnership.
Speaking at the event, Mr. Rimal expressed his optimism about the collaboration, stating, “This partnership marks a significant milestone in our journey to provide accessible and inclusive insurance solutions. By joining hands with Kamana Sewa Bikas Bank, we aim to expand our reach and create innovative products that cater to the financial and insurance needs of our communities.”
Echoing these sentiments, Mr. Lamsal remarked, “Kamana Sewa Bikas Bank is committed to empowering individuals and businesses through financial inclusion. This MoU will allow us to leverage NMIC’s expertise in micro-insurance to provide our clients with comprehensive financial solutions.”
The agreement underscores a mutual commitment to explore new business opportunities, streamline processes, and develop joint initiatives that cater to underserved populations. Both organizations have pledged to foster innovation, ensure customer satisfaction, and adhere to the highest standards of professionalism and service quality.
This collaboration aligns with Nepal’s broader goals of promoting financial inclusion and economic development. By leveraging their combined strengths, NMIC and Kamana Sewa Bikas Bank aim to address critical gaps in the financial and insurance sectors, particularly in rural and semi-urban areas. The event concluded with both parties expressing their enthusiasm for the partnership and their shared vision of sustainable growth. This MoU is expected to pave the way for groundbreaking initiatives and set a precedent for future collaborations in Nepal’s financial sector.