Pan Asia Bank strengthens national remittance framework with ‘Remit Max’

Aravinda Perera and Naleen Edirisinghe launching Pan Asia Remit MAX

Pan Asia Bank which is one of the largest remittance B2B providers in Sri Lanka, launched its new ‘Remit Max’ product suite at a ceremony held on 3 July, at Epitom Hotel, Kurunegala.

The launch ceremony was attended by the Chairman of Pan Asia Bank, Director/CEO, members of the Corporate Management team, senior officials representing the Sri Lanka Bureau of Foreign Employment (SLBFE), including the Additional General Manager and the Centre Manager of the Kurunegala Centre, together with owners, directors, partners and proprietors of many leading licensed Foreign Employment Agencies operating across the Kurunegala and Dambulla regions. 

The highlight of the evening was the official unveiling of the ‘Remit Max’ brand identity and logo, followed by the launch of two innovative financial products developed exclusively for the migrant worker segment: the ‘Remit Max Savings Account’ and the ‘Remit Max Pre-Departure Loan Facility’. 

The ‘Remit Max Savings Account’ has been specially designed for Sri Lankan migrant workers and their beneficiaries, with the objective of encouraging formal inward remittances, promoting disciplined savings habits, strengthening long-term customer relationships and enhancing financial security for migrant families. The account offers a range of exclusive value-added benefits and privileges that distinguish it from conventional savings products currently available in the market.

Complementing the savings proposition, the Bank also introduced the ‘Remit Max Pre-Departure Loan Facility’, a dedicated financing solution created to support individuals preparing to seek overseas employment. The facility is designed to ease the financial burden associated with pre-departure expenses such as agency fees, documentation costs, medical examinations, visa processing charges, travel arrangements and other essential requirements that aspiring migrant workers typically encounter prior to departure. 

Together, the two products have been designed after careful evaluation of the complete financial lifecycle of migrant workers (from the preparation stage before overseas employment, through the remittance earning period abroad, to building long-term financial stability for themselves and their families upon their return). 

The Chief Manager – Consumer Credit of Pan Asia Bank, Dhanushka Sapugasthanna subsequently presented the eligibility criteria, features and operational aspects of the Remit Max Pre-Departure Loan Facility, enabling participants to gain a comprehensive understanding of the products and the value they offer to migrant workers and their families.

The formal presentations were followed by an engaging and interactive question-and-answer session, during which representatives of participating Foreign Employment Agencies sought clarifications relating to product features, operational procedures and customer onboarding processes. Officials representing both Pan Asia Bank and the Sri Lanka Bureau of Foreign Employment responded to the queries. 

Delivering the keynote address, the Director/CEO of Pan Asia Bank, Naleen Edirisinghe said, “Foreign remittances continue to remain one of Sri Lanka’s most important sources of foreign exchange earnings and have played an indispensable role in strengthening the country’s economic resilience over the years. As a truly Sri Lankan bank, we believe migrant workers deserve financial solutions that recognise their contribution and support them throughout their entire journey.” 

The Chairman of Pan Asia Bank, Aravinda Perera added, “While Pan Asia Bank is a relatively new participant in Sri Lanka’s remittance sector, we chose to enter the market with purpose rather than speed: investing time to understand the needs of migrant workers and their families, build the right capabilities and create solutions that deliver meaningful value. Remit Max is the outcome of that journey and reflects our commitment to supporting Sri Lankan migrant workers throughout their entire financial lifecycle.”