The Nepal Association of Tour and Travel Agents (NATTA) held discussions with officials of the Nepal Rastra Bank on Monday to explore ways to simplify and strengthen the remittance process for outbound tours to third countries. The meeting, held at the Nepal Rastra Bank’s Central Office in Kathmandu, brought together NATTA President Kumar Mani Thapaliya, members of the association’s executive board and representatives from various tourism organizations. The delegation met with Dr. Dilli Ram Pokharel, Executive Director, and Yagya Prasad Shrestha from the Foreign Exchange Management Department of Nepal Rastra Bank to discuss issues related to foreign exchange management for outbound travel.
Focus on efficient and transparent remittance system
During the meeting, participants reviewed the existing remittance procedures for outbound tour packages to third-country destinations, highlighting operational challenges faced by travel agencies and identifying opportunities for reform. The discussions centered on developing a more efficient, transparent and practical system that would facilitate legitimate foreign exchange transactions while ensuring regulatory compliance. Representatives from the tourism sector also shared concerns regarding current procedures and emphasized the need for a streamlined mechanism that supports the smooth operation of outbound travel businesses.
Strengthening cooperation between tourism industry and central bank
NATTA said the interaction reflects the association’s continued efforts to work closely with Nepal Rastra Bank and other relevant government agencies to address policy and procedural issues affecting Nepal’s travel and tourism sector. The association expressed its commitment to maintaining constructive dialogue with the central bank to improve the regulatory environment for travel businesses and enhance the overall efficiency of financial transactions related to international tourism.
Supporting sustainable tourism growth
According to NATTA, establishing a more effective remittance system for outbound travel will help strengthen Nepal’s tourism industry by improving business operations, ensuring greater transparency and facilitating compliance with foreign exchange regulations. The association stated that it will continue collaborating with Nepal Rastra Bank and other stakeholders to promote policy reforms that contribute to the sustainable growth and long-term development of Nepal’s travel and tourism industry.
