Nepal intends to establish banking cooperation with Russia and connect to Russia's Mir payment system, Nepalese Ambassador to Russia Milan Raj Tuladhar said on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 11th April, 2023) Nepal intends to establish banking cooperation with Russia and connect to Russia's Mir payment system, Nepalese Ambassador to Russia Milan Raj Tuladhar said on Tuesday.
"At the moment, there is no connection between Nepal and the Mir payment system. We are now trying to establish at least some relationship in the banking sector between Nepal and the Russian Federation," Tuladhar told reporters.
In September 2022, Tuladhar told Sputnik that Moscow and Kathmandu could create a mechanism for mutual exchanges in national currencies, similar to the mechanism created between Russia and India.
Mir cards are now accepted by partner banks in Abkhazia, Armenia, Belarus, Vietnam, Kazakhstan, Kyrgyzstan, Tajikistan, South Korea and South Ossetia. Sri Lanka, Iran, Indonesia, Myanmar, Egypt, Thailand, India, Venezuela, Mauritius, Nigeria and Ethiopia have also shown interest in joining the Mir system.
At the same time, many countries, including Turkey, Vietnam, Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan, have stopped accepting Mir after the US Treasury Department said that it would impose sanctions against financial institutions supporting the Mir payment system in September 2022.
