Objective

To develop unique features by focusing on providing creative solution to customers’ business problems with absolute commitment to quality. To achieve the highest standard of professionalism by providing best-in-class service and convenience at an affordable price. To leverage on modern and latest technologies to serve the needs of customers in the most secured, efficient and cost effective manner, and then pass on the benefits to our customers.

Vision & Mission

Vision is to be the most sought Remittance Company by providing quick & easy services.

Mission is hassle free & prompt services..

AML & CFT Policy

Money Laundering has emerged as the alarming financial crime in the global economy. Hence, the fight against money laundering has become imperative for the global financial systems. In this context, the fight against money laundering is a priority for M & M Remit so as to prevent such criminal activities thereby protecting the financial institution and to entire financial systems from the potential risk posed by such financial crimes. M&M Remit is a remittance company, licensed & regulated by the Financial Service Commission ( FSC) of Republic of Mauritius, and as an entity as one of the largest remittance company has an important role to play in furthering the local and international efforts against money laundering and terrorist financing. The most effective way to fulfill this commitment and to protect both the company and its staff is to know your customer, be alert to suspicious activity and train all staff to be proficient at identifying suspicious activity on a regular basis. Definition provided by the US Custom Service is comprehensive and useful in understanding the concept:“Money laundering is the process whereby proceeds, reasonably believed to be derived from criminal activity, are transported, transferred, transformed, converted, or intermingled with legitimate funds for the purpose of concealing or disguising the true nature, source, disposition, movement or ownership of those proceeds. The goal of money laundering process is to make funds derived from, or associated with, illicit activity appear legitimate.” We understand that the fight against money laundering is a team effort. Adherence to “Anti Money Laundering Policy” is essential for the safety and ethical standards of the institutional Operations.
Combating for the Financing of Terrorism
Terrorist financing may be derived from two primary sources, although there are other sources which are no less important. The first major source is the financial support provided by States or organisations with large enough infrastructures to collect funds and then make them available to terrorist organisations and also by individuals with sufficient financial means. The second major source of funds for terrorist organisations is income derived directly from various “revenue-generating” activities. As with criminal organisations, a terrorist group’s income may be derived from crime or other unlawful activities such as large-scale smuggling, various types of fraud, thefts and robbery, and narcotics trafficking.

KYC Policy

The ‘Know Your Customer’ Policy, commonly referred to as ‘KYC’, is a mandatory framework for all remittance companies used for customer identification process. It sees to it that the identity and permanent address of individuals or entities resorting to financial services are ascertained at all times. It also involves making reasonable efforts to determine the nature of the business that the customer expects to conduct with the remittance, his/her source of fund, ascertaining the nature of the customer’s business and activities, among theirs. Know your customer process have become increasingly important globally to prevent theft, fraud, money laundering and terrorist financing. One aspect of KYC process is to verify that the customer is not on any list of known fraudsters, terrorists or money launderers, persons regarded as high-risk owing to negative reports in the media about them or in public records. Being a remittance company, M&M Remit does not maintain any accounts for customers. For convenience and faster service, a unique number for each customer remittance is provided in which the details of the customer and transactions are stored.
The KYC Policy is backed by laws and guidelines, namely:
• The Banking Act 2004 Republic of Mauritius; • The Financial Intelligence and Anti-Money Laundering Act (FIAMLA) of 2002; • The Financial Intelligence and Anti-Money Laundering Regulations (FIAMLR) of 2003; and • The Bank of Mauritius Guidance Notes on Anti-Money Laundering and Combating the Financing of Terrorism The information collected is kept confidential and will not be disclosed to any third party except as provided by law, including under Section 64 of the Banking Act 2004. In addition to this policy, M&M remit also intends to follow more stringent regulations if any stipulated by other central banks where it has correspondent relationship for money transfer. KYC is a major element in our fight against financial crime and money laundering. Your collaboration to the KYC process is most critical as it is the stepping stone to better protecting you and other customers. Just as we ensure at all stages of our relationship that your details remain confidential, unless required by law, we also urge you to never reveal your bank details or share your identity documents with third parties. We thank you for understanding that for us, protecting you is of paramount importance and that we may therefore contact you for updating and confirming your customer profile..

What is M& M Remit?

M& M Remit is an easy fund transfer means, where anyone can transfer required amount of fund from abroad safely.

How can I transfer Money?

You will meet our Exchange Company at your destination abroad and submit the amount of money and detail of beneficiary to them and then fill up a form; then you will get a voucher along with the Control Number. Now you are required to provide that reference number given to you to your beneficiary (family, friends or anyone you desire), as they will receive the payment on the basis of reference number.

Who can avail the services provided by M&M Remit?

Any person who wants to make a payment (in foreign currency) to an individual in Nepal (in NPR), in Bangladesh (in BDT) and in India (in INR) can avail the services of M&M Remit.

Why would I want to use M&M Remit?

We guarantee safe and prompt transfer of your hard earned money at lowest cost. Money is transferred almost immediately even small amounts can be sent cost effectively. There is no charge at the receiving end so your beloved ones can just go to the respective agent and collect the money.

Can I Deposit Amount to any Bank or financial Institutions?

Yes, we have added facility of Account Deposit. This enables any remitter to directly deposit on their account of any banks or financial institutions in Nepal, India and Bangladesh..

What are the charges levied for the remittance of fund?

The charge of Remittance through M&M Remit is cheaper than any other means of remittance. For more detail about charges you can contact to any of our agents near you.

When can I send the money?

You can send money through our principal offices and agents within office hours.