Hem Raj Dhakal

I believe the efforts of the IME Conglomerate has played a pivotal role in institutionalizing the remittance business in Nepal. We had the vision to globalize the remittance services and expand the business in South Asia. This was in order to help the millions of migrants in the Middle East and Malaysia to send remittances home in the most efficient and cost-effective way. This mechanism changed the dynamics of remittances in South Asia in general and Nepal in particular, where historically, it has been difficult to give financial access to all its citizens especially in areas outside the main cities. The widespread presence of IME payout locations has served the community as a whole by creating a much wider access network.

Today, IME Conglomerate consists of a number of companies with business interests in banking, remittance, digital finance, trading, IT, communications, energy, tourism, automobiles, insurance and infotainment and together has generated more than 13,850 jobs (including more than 3,850 direct and 10,000 indirect jobs). I lived in Malaysia for more than 15 years and established money service institutions in Malaysia, the UK, the USA and Japan. We strived to take the IME Conglomerate to the global marketplace and successfully completed the merger & acquisition of a few companies that are listed in the NASDAQ Fortune 500 Companies.

In 2018, we took another leap towards expanding this vision of a globalized remittance industry with IME India Private Limited (Erstwhile IME Forex India Private Limited). IME India Private Limited is a FEMA compliant entity, focused on delivering world-class customer experience through various services ranging from Indo-Nepal money remittance to forex. Despite the growth in inward remittance through various countries, remittance from India through the formal channels was still at an early stage. Many Nepalese migrate to India every year for various occupations that include seasonal migration, a part-time job and even governmental jobs. It is essential for them to have access to a fast, secure and reliable medium to send their hard-earned money back home to their families in Nepal. Here we saw a huge opportunity to promote a legal channel of remittance flow among Nepalese, from which the motivation for IME Forex India Private Limited originated. IME being a household brand in Nepal, we envisioned IME Forex to easily stand out in the crowd serving large number of Nepalese diaspora residing in India for Indo-Nepal remittance.

Our vision then was to evolve a family business into a corporate one, now after years of building culture within the organization, our team members align with the group's slogan Pioneering Spirit, the driving force of the team. With the ambition to empower the youth and promote social entrepreneurship, the IME Conglomerate has invested in various startups to explore the business potential of Nepal and create opportunities for youth. Our team members not only work for the company but also own it.


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