Press Release on Max Money

Thursday,August 16,2018

Himalayan Bank Limited (HBL) would like to express its deep concern and draw kind attention to all the concern regarding the news published on various Medias based on the press conference organized by Max Money SDN BHD (Max Money) on August 14, 2018 and the statement released thereon.

The Bank expresses its deep concern over the imaginary, illusive, self-generated and exaggerating the baseless accusation of Max Money SDN BHD against the Bank.

Instead of Max Money, a Malaysian Remittance Company, it is Himalayan Bank Limited who has to receive huge sum of fund from them.We would like to clarify that when HBL has started rigorous follow ups to Max Money to send the unsettled fund, they started accusing HBL.

To facilitate the Nepalese migrant workers, HBL had gone to Malaysia and entered into the remittance agreement to Nepal with Max Money in 2008 AD. According to the agreement, the hard earned money of Nepalese workers is transferred to their beneficiary through Max Money in Malaysia. Accordingly, HBL facilitates the payment of those funds. Thus, HBL has requested Max Money time and again to settle the outstanding fund payable to HBL. In contrary to our request to settle the outstanding, Max Money has now started shameful act of blaming the Bank to negate its professional image.

HBL is in regular and constant touch with the Regulatory Bodies of both the countries, Nepal Rastra Bank and Bank Negara Malaysia in this matter.

HBL has been successful in creating image of reputed, trustworthy and leading bank of Nepal since past 26 years of journey. The Bank has been following all the governing laws, rules and regulations enacted time and again by the Government and the Regulatory Body. Accusation of creation of fraudulent Pin no. by the bank itself during 2011 AD to 2016 AD to manipulate Rs. 3.00 Billion to the Bank that follows all the banking norms, laws, rules and regulations is nothing but entirely imaginary, baseless and misleading.We request Max Money to prove the accusation and submit the concrete evidences to the concern Regulatory Bodies.

HBL sternly condemns the unprofessionalism of Max Money to defame and degrade the professional image of the reputed Bank of Nepal. It is nothing but the willful and shameless act of diverting the main issues of settlement of outstanding fund.

The Bank also condemns the statement released by Max Money to denounce the professional image, self-respect of the some of the Executives by alleging fictitious, baseless and senseless issues.

Lastly, we request all the concern not to pay heed into the attempt of creating illusion and baseless accusation of Max Money and request Max Money to settle the unsettled outstanding receivables immediately.