Thursday, 23 September 2010

Sri Lanka state bank in deal to boost remittances from Jordan

Sep 21, 2010 (LBO) - Sri Lanka's state-run National Savings Bank (NSB) has inked inked a deal with a financial partner in Jordan as part of a bid to expand its remittance business tenfold over two years, officials said.

NSB announced a deal with JRM Alami and Partners Exchange Company in Jordan Monday to help channel remittances of Sri Lankan expatriates in that country more easily.
Last year expatriate Sri Lankans working in the Middle East, Far East and Europe sent 3.3 billion dollars to the country officially.

"We are enjoying only 0.7 to 0.8 percent of this market," Predeep Kariyawasam, chairman of state owned NSB told reporters after announcing the link with JRM Alami. Read more

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