NSB partners UNISTREAM
National Savings Bank, the only Bank to have 100 percent Government
guarantee and protection becomes the first bank in Sri Lanka to partner
with the Moscow based Commercial Bank UNISTREAM, which has its presence
in over 95 countries.
The Russian Bank is an operational and organisational centre for the
Unistream Money Transfer system.
The partnership will facilitate inward remittance of non-resident Sri
Lankans through the worldwide presence of UNISTREAM and the islandwide
presence of NSB."Over a 1.5 million Sri Lankans living and working
overseas send home around Rs. 370 billion each year, which accounts for
about 8 percent of the country's GDP.
NSB's partnership with UNISTREAM is a significant milestone targeting
the growing Sri Lankan diaspora worldwide", said General Manager/CEO NSB,
H.M. Hennyake Bandara. "We believe that due to the growing demand for
remittances globally and Sri Lanka particularly, the project will be
successful."
The set of services offered locally by this partnership includes cash
to cash option, cash to account option and bank cheque delivery.
"UNISTREAM has been putting a lot of effort expanding into all
principal world remittance corridors in general and in the Asian region
particularly", said Senior Vice President, International Development for
Commercial Bank UNISTREAM Shekhar Nair.
UNISTREAM's services are available in over 160 locations across the
country, it is planned to expand the network to 200 locations by the end
of the year. Remitters can now enjoy convenience, attractive rates and
high quality services of sending money from over 95 countries to Sri
Lanka where NSB operates in all districts.
This partnership will also help the Bank to attract migrant workers
who currently send their money to Sri Lanka using illegal systems and
gain more foreign currency into the banking system.
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