MoneyGram the household word for inward remittances to Sri Lanka from around the world spread its tentacles in Sri Lanka consequent to Pan Asia Bank network teaming up with Hatton National Bank (HNB) to launch MoneyGram remittance services.

An agreement to this effect was signed in Colombo at HNB Towers on 30th June 2009.
Mr. Harsh Lambah – Regional Director South Asia, MoneyGram International and Mr. Gautham Kalro- Agent Support Manager South Asia were present at the signing ceremony.

Mrs. Kimarli Fernando,CEO & Managing Director ,Pan Asia Bank said “We are pleased to offer MoneyGram service through our branch network of over 34 branches across the nation.  Adding, MoneyGram service will provide value to our customers and widen the range of services offered to them. Through this service customers can receive their money remitted from abroad through any Pan Asia Bank branch in Sri lanka, close to their home."

Picture shows Mr. Rajendra Theagarajah, Managing Director/CEO,Hatton National Bank Plc & Mrs. Kimarli Fernando,CEO & Managing Director, Pan Asia Bank exchanging the agreement. Mr. Harsh Lambah Regional Director South Asia(4th from right) and Mr. Gautham Kalro –Agent Support Manager South Asia of MoneyGram International (5th from left) look on with the respective teams of both banks.

“MoneyGram growth in Sri Lanka is a vital part of global expansion plans and this tie up offers a significant growth opportunity for MoneyGram in view of the large number of Sri Lankan workers employed overseas” said Mr. Harsh Lambah of MoneyGram International.  He was delighted at the fact that Pan Asia Bank signed up as Sub-representatives under HNB’s Super agency and expected the network of Pan Asia Bank to commence operations servicing MoneyGram customers shortly.

MoneyGram International offers more control and more choices for people separated from friends and family by distance or those with limited banking relationships to meet their financial needs. A leading global provider of money transfer services, MoneyGram International helps consumers to safely send money around the world in as little as 10 minutes. Its global network comprises of 180,000 agent locations in 190 countries and territories. MoneyGram’s convenient and reliable network includes retailers, international post offices and financial institutions” said Mr. Lambah.

Mr.R. Theagarajah,Managing Directpor/CEO of Hatton National Bank emphasised that worker remittances to Sri Lanka totalled US$ 3 Bn approximately, in 2008 and is expected to grow sharply during the current year.  He mentioned that specific markets such as United States, Lebanon, France, Cyprus, Canada and Israel contributed a substantial share of MoneyGram volumes to Sri Lanka. HNB has always considered inward remittances as an important segment in the total retail operation of the  Bank and were extremely satisfied with the professionalism and the business model  of MoneyGram.This step in exercising the super agency and taking on Pan Asia Bank as a subrepresentative is an important stride to more mutually beneficial business relationships, he stated.