FERG members waive remittance charges to Nepal for a full month

Humanitarian gesture to facilitate flow of funds to earthquake stricken areas

Dubai, May 4^rd, 2015 - The Foreign Exchange and Remittance Group (FERG), comprising of businesses engaged in money exchange and remittances, has invited all its members to waive remittance charges to Nepal for a full month as a humanitarian service.

The move comes after a ferocious earthquake of 7.8 magnitude caused devastation across the country, and left a death toll that has crossed 6,100 and is still climbing. Over 11,000 others have been injured. A total of 8 million people have been affected by tremors that levelled historic temples and buried an Everest base camp under tonnes of snow.

“At this critical juncture for the Nepalese people, a smooth inflow of funds is of the utmost importance. FERG wants to play a role in providing succour to those affected by the quake. Homes have been damaged and people injured. We’ve requested all our members to waive all remittance charges for transfers to Nepal so that well-wishers, donors and Nepalese expatriates in the UAE can transfer funds to the country as easily as possible,” said FERG Chairman Mr. Osama Al Rahma.

FERG’s month long remittance window for the UAE-Nepal transaction corridor is expected to help alleviate suffering by allowing funds to be remitted quickly without overheads.

“Our hopes and prayers are with the people of Nepal in these hard times. We recognise that timely assistance for people in the country is essential. That’s why we’ve asked our members to waive their fees, and are also encouraging other stakeholders in the sector to participate in this campaign to ensure funds get where they are needed at no additional cost,” concluded Al Rahma.