NTB expands remittances across branch network with global partners

Wednesday, 22 August 2012 02:36 - - {{hitsCtrl.values.hits}}

Nations Trust Bank PLC (NTB) has signed up with a number of remittance partners worldwide such as MoneyGram, Coinstar Money Transfer, Xpress Money, UAE Exchange, Remit2home, Ria Money Transfer, Colombo Money Transfer Services and National Exchange Company of Italy to offer fast and convenient remittance services across its expanding branch network.

In line with further expanding this network, the bank has entered into a partnership with Nonoo Exchange Co. of Bahrain and an agreement to this effect was signed recently.

Nonoo Exchange Company BSC is wholly owned by the Nonoo Family. The Family Nonoo is well known in Bahrain having settled there at the turn of last century. Their reputation has been built over the years on their expertise in the Financial Services Industry dating back to the early 1920’s.

Nonoo Exchange Company BSC as it is known as today in its current format was initiated in 1993 by the sons of Dawood Ebrahim Nonoo, who was one of the founding members of the first Exchange House in Bahrain. Nonoo Exchange Co: also offers the following services; Zain Wallet – Mobile banking facility which helps customers to send money through mobile phones from Bahrain to loved ones in Sri Lanka. www.nonooremit.com – online remittance facility which helps customers send money using their debit card (exclusively for customers based in Bahrain) and My Card – Currency card for customers.

This tie-up will enable Sri Lankans living in Bahrain to remit money to Rupee and foreign currency accounts through the NTB branch network or to rupee accounts at any other banks. Through this service funds could also be collected over the counter at any of one of the 52 branches that are open 365 days offering extended banking hours.

Commenting on the partnership NTB Branches and PBC’s Chief Manager Sanjaya Perera said, “The partnership with Nonoo Exchange Co, one of the leading exchange houses in Bahrain will offer non-resident Sri Lankans in Bahrain a convenient and fast remittance service through our branch network. We look forward to a growing partnership with them in order to promote more remittances to Sri Lanka from Bahrain.”

Echoing Perera’s comments Nonoo Exchange Chairman Fuad Nonoo who said, “With NTB’s reputation as a reliable and customer-friendly bank, we consider this an important partnership to promote remittance services to Sri Lanka, which is a key market for us. We look forward to leveraging Nations Trust Bank’s expanding network and 365 day & extended banking hours proposition to offer residents overseas a fast and convenient, affordable and secure money transfer service.”