Commercial Bank integrates with BFC’s ‘EzRemit’ for instant remittances to SL
26 November 2015 03:13 am
Commercial Bank’s Chief Manager e Banking Pradeep Banduwansa (second right) and the Head of Retail Sales of Bahrain Financing Co. (BFC) Deepak Nair at the announcement of the integration of the web systems of the two companies, with representatives of BFC and Commercial Bank
Users of EzRemit, a leading remittance service in Bahrain, who send funds to beneficiaries in Sri Lanka via the Commercial Bank of Ceylon, are now offered an instant, real-time transfer, following the integration of the web systems of the two entities.
The new development, which further strengthens Commercial Bank’s remittance services in Bahrain, offers Sri Lankans living and working in the oil-rich Persian Gulf archipelago an important enhancement to the service they receive from EzRemit, the money transfer product of Bahrain Financing Co. (BFC). EzRemit is available at 39 BFC branch locations across the Kingdom.
Consequent to the integration, EzRemit senders and their beneficiaries can enjoy an innovative service that enables beneficiaries to receive money directly to their bank accounts or to pick up the money within minutes at many convenient locations throughout Sri Lanka, including any of Commercial Bank’s 246 branches.
The remittance service is available 365 days a year, 24 hours a day, including bank holidays, the Bank said.
Launched in June 2003, EzRemit was established to provide a remittance service to growing expatriate communities in Bahrain. Today, EzRemit provides remittance services in over 30 countries with more than 40,000 agent locations. With state-of-the-art technology, reliable service and wide-ranging expertise, EzRemit offers a secure and trusted means of transferring money effectively and efficiently.
Commercial Bank is one of the most active players in Sri Lanka in the field of remittances, offering customers a range of options. Remitters can send money even without having an account in the Bank. The Bank has its own Business Promotion Officers (BPOs) in key markets around the world where significant numbers of Sri Lankans are employed.
The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for five consecutive years, Commercial Bank operates a network of 246 branches and 618 ATMs in Sri Lanka. The Bank was ranked the most valuable private sector brand in Sri Lanka in 2014 and has also won multiple awards as Sri Lanka’s best bank from several international publications over several years. The Bank was adjudged one of Sri Lanka’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014.
Commercial Bank’s overseas operations encompass Bangladesh, where the Bank operates 18 branches and Myanmar, where it has a Representative Office in Yangon. In September 2015, the Bank received regulatory approval for the establishment of a fully-fledged Tier I Bank in the Maldives.