Commercial Bank adds Lebanon to money transfer network

Tuesday, 8 March 2011 00:06 - - {{hitsCtrl.values.hits}}

The Commercial Bank of Ceylon Plc has partnered CashUnited, a leading financial services provider in Lebanon, to expand its ‘e-Exchange’ instant money transfer facility to that country.

The partnership will enable Sri Lankans living or working in Lebanon to send money home conveniently, securely and speedily, by accessing any of CashUnited’s 250 plus locations in Lebanon, the Bank said. Commercial Bank’s extensive network of 192 branches, holiday banking centres, supermarket banking counters and 405 ATM machines will enable recipients to access the remittances with ease even on bank and public holidays.

“We have expanded coverage of our money transfer facility to many countries that have a significant Sri Lankan expatriate population,” Commercial Bank’s Deputy General Manager – Operations Sanath Bandaranayake said. “The launch of e-Exchange in Lebanon is a strategic step that will further strengthen our money transfer operations in the Middle-East region, which has a large base of Lankan migrant workers.”

Commercial Bank’s low cost, yet sophisticated e-Exchange money transfer facility is currently available through a network of reputed agents in more than 50 countries around the world.

CashUnited, a MoneyGram representative in Lebanon, utilises advanced technology to provide a range of high quality payment and other services including bill payments, currency exchange, Mobile top-up, insurance and prepaid payment card services.

The Beirut headquartered company commenced its money transfer operations in 2001.

“We are committed to serve Sri Lankans in Lebanon by providing the best customer service and convenient services to enable them send money to support their families back home,” Cashunited’s General Manager Philippe Dagher said.

Commercial Bank of Ceylon Plc has been adjudged Sri Lanka’s ‘Bank of the Year’ seven times by ‘The Banker,’ ‘Best Bank in Sri Lanka’ for 12 consecutive years by ‘Global Finance’ Magazine, and the Best Bank in Sri Lanka twice by FinanceAsia.

It has also been rated ‘Best Local Trade Bank’ in Sri Lanka by the UK based ‘Trade Finance’ magazine. The Bank also operates seven branches, two booths, two off-shore banking units, six SME Centres and 14 ATMs in Bangladesh.