Amana Bank, which operates in full accordance with Sharia banking principles, has tied up with one of the largest private sector commercial banks in the country, Hatton National Bank, to provide its customers residing overseas with inward remittance services through the MoneyGram network.
A technical service agreement with regard to this was signed on 14 December 2012 at HNB Towers in the presence of representatives from the two banks.
Speaking on this occasion HNB’s Managing Director/CEO Mr Rajendra Theagarajah said: “HNB has been in the forefront of promoting inward remittances to Sri Lanka through formal and regulated channels. HNB’s partnership as a ‘super-agent’ of MoneyGram has been strengthened over the last 15 years, and I am happy to welcome Amana Bank who will further strengthen this association through this partnership with HNB and MoneyGram.”
Amana Bank’s Managing Director/CEO Faizal Salieh said: “We know that most Sri Lankan expatriates employed and residing in other countries use MoneyGram to remit funds faster and safer to their loved ones in Sri Lanka. Such remittances are on an upward increase in recent years and have supported our country’s economy significantly.
We are happy to have chosen HNB as our partner in this important network and will be soon offering the MoneyGram service to our customers residing abroad.”
The MoneyGram service will be accessible through all the Amana Bank branches across the country. Having launched its ATM service in December 2012, the bank has aggressive plans to expand its reach this year and introduce an array of new products and services to offer greater convenience to its customers. Amana Bank is the first Licensed Commercial Bank in Sri Lanka which fully functions on the principles of Sharia banking. Powered by the stability and the support of its strategic shareholders Bank Islam Malaysia Berhad, the Islamic Development Bank based in Saudi Arabia and AB Bank in Bangladesh, Amana Bank is making an aggressive journey in the Sri Lankan banking industry.
While already being the market leader in Sharia-based banking, Amana Bank is focused on capitalising on the growing market potential for this unique banking concept among all communities in the country.