Kathmandu: The Government of Nepal has unveiled a unique incentive scheme designed to reward individuals who send remittances home through official banking channels.
Under this new initiative, the government will operate a lottery program where every transaction receipt serves as an entry for potential prizes. This measure is a strategic effort to discourage the use of informal and unregulated transfer methods, such as hundi, while ensuring that the country’s foreign exchange inflows are channelled through the formal financial system.
Finance Minister Dr Swarnim Waglé announced this program on Friday during the presentation of the federal budget for the upcoming fiscal year 2083/84 at a joint session of the Federal Parliament.
By offering tangible rewards for using formal banking routes, the administration hopes to heighten the appeal of official transfers among the Nepalese diaspora. The government believes this receipt-based lottery will not only bolster the national economy by increasing recorded reserves but also provide a sense of appreciation for migrant workers contributing to their homeland’s fiscal stability.
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