Some stories don’t shout for attention; they unfold quietly, almost shyly, over the years. Chandra Prasad Dhakal’s story is one of those. If you’re from Nepal or familiar with South Asia’s fast-changing business landscape, chances are you’ve heard of the IME Group. You might not know how a man from a small town with no grand inheritance or famous surname came to build a business empire that spans everything from remittances to banking to tourism.
It’s not one of those overnight success stories. There were no dramatic IPOs or viral product launches. A string of opportunities, or the wrong ones at the right moment, which somehow worked out, with a slight risk and a bit of stubbornness there. The story makes perfect sense when you look back, though it probably felt like chaos while it was happening.
In a region where many young people leave to work abroad, Chandra Prasad Dhakal chose to stay and help those who left. His journey is compelling not for its perfection or flashiness but for its humanity, ambition, caution, and constant shaping by the surrounding world.
This isn’t the story of a boy with a big dream. It tells the story of a man who recognized weaknesses, took chances, and made something grander than he likely imagined. And it’s far from over.
Early life
Humble Beginnings
On June 23, 1965, Chandra Prasad Dhakal was born in the remote village of Amalchaur, Baglung, Nepal. His early years were marked by rustic simplicity and financial difficulties. The death of his father, who had left the family to work in a foreign land to support them, left young Dhakal all on his own to take care of his family. With less money and more work, Dhakal completed his village high school years and left for Kathmandu in 1984.
The shift to the capital wasn’t easy. He juggled long hours at a grocery store while continuing his studies, often under challenging conditions. On his first try, he even failed his School Leaving Certificate (SLC) exam, a setback many would consider final. But Dhakal tried again, passed, and kept going.
Featured – Chandra Prasad Dhakal – Pic – IME Group
There were no shortcuts or big breaks, just daily effort and resilience. These early struggles working small jobs, saving every rupee, and pushing through educational hurdles quietly laid the foundation for his future. It wasn’t ambition for the empire that drove him then, but a simple, pressing need to support his family. Still, from those humble beginnings, the seeds of a much larger journey were sown, eventually reshaping Nepal’s financial landscape.
Life in Kathmandu: Lessons in Grit
Life in Kathmandu wasn’t much easier than back home. Chandra Prasad Dhakal juggled work and studies, barely making ends meet while sending money back to his family in Baglung. He worked for Swastik Heritage, a Pepsi distributor, and scraped by on determination more than comfort.
After passing his SLC exam, Chandra Prasad Dhakal secured a respectable job as an assistant accountant at Rastriya Banijya Bank. It was stable, but it wasn’t enough. A restless streak pushed him to try his ventures in a cold store, then a cargo business. His younger brother Ramu joined him in Kathmandu, and together, they hustled.
When they needed 1.2 million rupees to expand, Dhakal applied for a loan at his bank. He was denied and frustrated, so he immediately resigned. Years later, he’d call it risky but never a mistake.
A Crash and a Lesson
One Friday in the ’90s, racing against time to the airport, the brothers’ motorcycle crashed into a herd of chyangras brought for Dashain. Bloodied, they skipped the hospital and made it to customs just before closing. Only later did they get treated.
That stubborn, relentless drive explains why the Dhakal brothers rose so quickly, not from privilege but from refusing to quit.
How Chandra Prasad Dhakal Built an Empire by Solving Everyday Problems
In 2001, when the Nepali government officially allowed workers to migrate to Malaysia, thousands took the chance. But with so many people sending money home, a dangerous problem surfaced: the hundi system, an informal and often risky way to transfer money. The practice caught the attention of Nepal Rastra Bank, which grew increasingly concerned about its security and legality.
That’s when Chandra Prasad Dhakal saw an opening. Sensing both the risk and the need, he prepared to put in for his company, International Money Exchange (IME), to be authorized to conduct official remittances of Nepalis abroad. Under Governor Tilak Rawal, the central bank acted upon his proposal without much resistance.
Featured – Chandra Prasad Dhakal – Pic – IME Group
Dhakal didn’t stop there. He secured a permit from the Malaysian Central Bank and quickly set up IME offices in four to five key locations in Malaysia. “We made sure our customers in Kathmandu, Pokhara, and other cities received money from their families within 24 hours,” Dhakal recalls. Educating workers about this new, safer system wasn’t easy, but IME’s reliability soon earned it a strong reputation.
As the number of Nepali migrant workers in Malaysia grew, so did IME’s presence. “The Malaysian government trusted us so much that it didn’t issue permits to any other remittance companies for five years,” Dhakal says. That trust practically forced IME to expand across the country.
Today, IME operates in every major country where Nepalis work. The brand has become so synonymous with remittance that people often use ‘IME’ as a verb; they don’t send money; they ‘IME’ it. Businesses must apply for an ‘IME license’ when entering the sector.
What began with around Rs 50,000 has grown into a financial powerhouse, handling 25 to 30 percent of Nepal’s total remittance market. More importantly, it played a central role in reducing illegal money transfers, bringing the country’s remittance system into the formal, regulated economy.
As of 2025, Chandra Prasad Dhakal, the Executive Chairman of IME Group and Chairman of Global IME Bank is estimated to have a net worth between USD 20 million and USD 30 million.
His business success comes from participating in banking, remittances, energy, tourism, and technology. He holds 9.05 million shares in Global IME Bank, valued at approximately NPR 905.67 million, equaling about 2.36% of the bank’s total shares.
Furthermore, he is the president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). He has significantly contributed to the founding of the Nepal Investment Company, a Rs 10 billion project to boost Nepal’s infrastructure efforts.
Chandra Prasad Dhakal has served as Nepal’s Honorary Consul to Indonesia since 2010. He is also the President of the Nepal-Indonesia Chamber of Commerce and Industry and Vice President of the Nepal-German Chamber of Commerce and Industry.
Awards and Achievements of Chandra Prasad Dhakal
Awards from the Government of Nepal
Commercially Important Person (CIP) Award: Given multiple times for his role in formalizing remittance flows and contributing to the economy.
Sukritimaya Rastradeep: A national honor recognizing his contributions to Nepal’s economic development.
Prabal Janasewashree (Fourth) and Gorkha Dakshin Bahu IV: Awards for public service and national development.
International Recognition
Caraka Buwana Award (2024): Presented by Indonesia’s Ministry of Foreign Affairs for strengthening Nepal-Indonesia trade, tourism, and cultural relations.
Business and Industry Awards
Corporate Excellence Award (2024): Awarded by the Association of Chartered Accountants of Nepal for his leadership in job creation and economic growth.
Largest Taxpayer Award: IME Group received this for four consecutive years in the remittance sector under his leadership.
Conclusion: A Legacy of Vision and Impact
Having gone from a small village in Baglung to heading Nepal’s biggest financial and business empire, it is a strong story representing resilience, determination, and visionary leadership. The personal struggle to support his family turned out to be a mission that redefined Nepal’s economic scenarios.
Chandra Prasad Dhakal empowered millions of Nepalis working abroad by introducing formal remittance channels through IME and strengthened the national economy. His expansion into banking, insurance, tourism, and philanthropy showcases entrepreneurial success and a deep commitment to inclusive growth and national development.
As President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) currently, Dhakal’s power is not limited to business only; he also has the authority in policymaking and institutional reforms, where he favors economic resilience, innovation, and job creation.
His story is more than a biography; it is a blueprint for aspiring leaders and entrepreneurs. Chandra Prasad Dhakal has built an empire and carved a lasting legacy as a nation-builder.
Government of Nepal: Commercially Important Person (CIP) Award (received multiple times)
IME Group: “Largest Taxpayer” in Nepal’s remittance sector for four consecutive years
Other Notable Achievements
Philanthropy (through IME Foundation): funding education and basic healthcare for underprivileged children nationwide
COVID-19 relief: launched “Bharosa Kosh” (support fund for bereaved migrant families, ₹58,000 per family) and established an oxygen plant at Teku Hospital (Kathmandu)
Recognized by Indonesia: Honored by the Indonesian government for 2015 earthquake relief efforts (Dhakal has served as Honorary Consul of Indonesia since 2010)
Infrastructure initiatives: spearheading cable-car transport projects in all seven provinces to boost tourism
