The Commercial Bank of Ceylon has announced that it has joined the national remittance mobile application “Lanka Remit” as a participating bank, to support the Central Bank’s latest initiative to facilitate remittance transfers to the country.
During the official launch of “Lanka Remit”, the Managing Director and Managing Director of the Commercial Bank, Mr. Sanath Manatunge, received a plaque in recognition of the Bank’s participation in this national project aimed at increasing foreign remittances. . The plaque was presented by the guest of honor at the event, the Hon. Namal Rajapaksa MP, Minister of Youth and Sports, Minister of Development Coordination and Monitoring and Minister of State for Digital and Business Development.
Developed by LankaClear (Pvt) Ltd., with the support of partner banks, the mobile application provides Sri Lankans working abroad direct access to existing remittance channels and enables them to choose more convenient and ways to send money to Sri Lanka. .
One of the country’s most active remittance players, Commercial Bank launched a series of remittance promotions last year. The last of these “Make a Million” is an ongoing campaign that will make four instant millionaires in four months. The Bank launched eRemittance in 2003 and launched Sri Lanka’s first money transfer card in 2016, with an emergency cash advance loan facility.
To further cater to this segment, the Bank launched “ComBank RemitPlus” in 2019 to improve access to information and services related to remittances. It also operates 24/7 remittance processing units
and has installed dedicated remittance counters in its main branches. The Bank has specially trained Business Promotion Officers (BPOs) and Business Promotion Officers (BPAs) stationed in Middle Eastern countries and South Korea, and last year held forums to promote investment opportunities in Sri Lanka.
One of the Bank’s key strengths in serving customers’ remittance needs is its island-wide network of 268 branches, many of which remain open on public, banking and business holidays, and its network of 938 ATMs, which is the largest cash machine. system owned by a single private bank in Sri Lanka. Recipients of remittances sent to the Bank enjoy many benefits such as Holiday banking centers and supermarket counters, a dedicated customer support call center for remittances, and SMS alert facilities once the transfer is received and ready to be paid.
Commercial Bank is Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the World’s Top 1000 Banks and the only Sri Lankan bank to be so listed for 11 consecutive years. It is Sri Lanka’s largest SME sector lender and a leader in digital innovation in the country’s banking sector. The Bank’s overseas operations include Bangladesh, where the Bank operates 19 outlets; Myanmar, where he owns a microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I bank with majority ownership.
Chief Operating Officer of Commercial Bank, Mr. Sanath Manatunge receives plaque from Minister Namal Rajapaksa during the launch of Lanka Remit. Central Bank Governor Mr. Ajith Nivard Cabraal (3rd from right), Deputy Governor Dharmasri Kumaratunga (far right), Lanka Clear Chairman Dr. Kenneth De Zilwa (2nd from left ) and Central Bank Deputy Governor Ms. Yvette Fernando (far left) are also in the picture.