A Nepal Rastra Bank estimate puts the volume of annual remittances at Rs 70 billion from more than 300,000
Nepalis working abroad. This does not take into account sums filtered into the economy through illegal hundi channels. Now CG Finco, a local finance company, has joined hands with Western Union Financial Services Inc to ensure more reliable money transfers. It already has an existing network of 80 locations across Nepal, and will shortly offer 24-hour customer service in Nepal. The tie-up with Western Union means receiving and sending money around the globe will be simpler and faster.