HNB focused on remittances as an engine for development

CEYLON TODAY | Published: 2:00 AM Nov 27 2021
FT HNB focused on remittances as an engine for development

Underpinning the power of remittances to drive development and in support of the Central Bank of Sri Lanka’s (CBSL) efforts to optimise inward remittances, leading private sector bank HNB PLC, recognised and rewarded their top achieving customers, at a special ceremony held at their premises. 

The event featured CBSL Governor, Ajith Nivard Cabraal as Chief Guest, and CBSL Assistant Governor, Dharmasiri Kumarathunga, who together with HNB MD/CEO, Jonathan Alles and senior officers, handed cash prizes of LKR 100,000 to the awardees.

 “Migrant workers who opt to send their precious foreign currency through formal banking channels, will be treated to new privileges, at a national level as well as at bank level. Given HNB’s rich 40 year heritage in the remittance industry, we are ideally positioned to take the lead in streamlining inflows to Sri Lanka, while ensuring that the interests and well-being of migrant workers during their tenure as a migrant, and upon their return to the motherland,” HNB MD/CEO Jonathan Alles stated.  

With over four decades of remittance experience, HNB has deployed officers in select locations as a regular point of contact to provide solutions and advice customers on their banking expectations.

HNB Remittance services offer customers convenience and security to transfer funds through the bank’s worldwide network of partners in every populated continent. HNB’s global network consists of more than 130 tie-ups with renowned exchange houses and banks across the world, where deposits could be made in 13 designated foreign currencies, along with LKR.

HNB recorded a significant 15% YoY increase in digital remittances in the first half of 2020 alone, following the introduction of cardless withdrawals for Lankan expatriates and the launch of the HNB RippleNet blockchain facility for enterprises, which helped ease the difficulties faced by customers. By the end of its last financial year, HNB had facilitated inward remittances in excess of LKR 203 billion.

CEYLON TODAY | Published: 2:00 AM Nov 27 2021

More News