Media & News
1000 MMBL Money Transfer Locations
Sri Lanka, 10th . December 2007 – MMBL Money Transfer, one of Western Union’s Agents in Sri Lanka has reached a significant milestone with the opening of MMBL’s 1,000th Western Union location. This 1000th location is the Beliatta Rural Bank of the Beliatta Multi Purpose Society located in the Hambantota District.
“MMBL is charting a phenomenal growth track and is helping Western Union expand its reach across Sri Lanka,” said Anil Kapur, Managing Director, South Asia, Western Union. “The breadth and strength of this network demonstrates Western Union’s commitment to its consumers, providing them with the fast, convenient and reliable financial services they want and need.”
Aitken Spence Group Director and MMBL Money Transfer Pvt. Ltd Managing Director. Dinesh Mendis said, “Our recent expansion further boosts our commitment to provide easy access to every customer by allowing them to collect their remittance at a location ‘right next door’. We are proud to deliver Western Union® Money Transfer service to thousands of Sri Lankans, thus playing a role in the economic development of the country.”
According to the Central Bank of Sri Lanka, the country receives over $2 billion worth of foreign remittances each year. Most of the remittances come from over 1.5 million expatriates in the Middle East. Remittance is also one of the biggest sources of poverty alleviation worldwide. According to the World Bank, every dollar remitted to a developing country contributes three dollars to the economy of the country. Remittances are also believed to have reduced poverty in various developing nations by staggering numbers.