KATHMANDU – NMB Bank has become the first bank in Nepal to complete a hedging transaction.
With the collaboration of Currency Exchange Fund (TCX), Amsterdam and MFX Mudra Rex Solutions, Washington NMB conducted a successful hedging transaction of 8 million dollar, become the leading commercial bank to complete the first hedging transaction.
Recently, Nepal Development Finance Institutions have become the first choice for grants. Due to the resources and means available here, the cooperation received from foreign donor agencies has been playing an important role in the economic development of Nepal. Consequently, the NMB says that Nepal’s banks and financial institutions will play an important role in controlling the volatility of foreign exchange thus received.
According to the bank, TCX was the essential instrument for the ‘Non Derivative Cross Currency Swap’ for hedging and MFX acted as the facilitator for the said transaction.
NMB Bank believes this successful hedging transaction now opens door to everyone in the country who want to perform financial transactions with greater stability and certainty, making it easier for them to do business in a volatile market and achieve their goals.
‘The Banker Magazine’ of The Financial Times, London, has awarded NMB Bank with the prestigious Bank of the Year Asia 2021. The bank has also been awarded with Bank of the Year in 2017, 2018, 2020 & 2021. NMB Bank is currently providing high level of services through 201 Branches, 138 ATMs and 11 Extension Counters across the country.
