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MMBL Signs On Lanka Bell to Offer Western Union Money Transfer Service

Lanka Bell has entered into an agreement with MMBL Money Transfer (MMBL) to offer Western Union money transfer services through its network of 55 business offices across Sri Lanka. All the Agent locations will be fully equipped to offer Western Union’s Money Transfer Service.

Remittance is a major source of foreign resource to Sri Lanka. 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.

“In the light of the fact that Sri Lanka received close to US $2.41 billion Sri Lankan rupees in remittance in 2006 according to the Central Bank of Sri Lanka, sent by people of the Sri Lankan origin from across the globe, the country has become a very important market for Western Union”, said Ratheesh Kumar, Country Director, Western Union, South and East India, Sri Lanka, Bangladesh and Maldives. “The MMBL-Lanka Bell partnership allows Western Union to further expand its reach to provide easier and faster access to money transfer service to customers in Sri Lanka,” Ratheesh Kumar added.

Remittance is one of the biggest sources of poverty alleviation worldwide. It is estimated that every dollar remitted to a developing country contributes three dollars to the economy of the country. Remittances are also believed to have reduced the poverty in various developing nations by staggering numbers.

“As a Sri Lankan company we feel a great responsibility in providing superior service to our customers & others. We view our partnership with MMBL and Western Union as a way through which we can provide value added service to our customers & non customers through the convenience of our branches” says Mr. Suren Goonewardene , Managing Director of Lanka Bell.

Dinesh Mendis, Managing Director of MMBL Money Transfer said, “MMBL’s strategy is to provide easy access to every Western Union customer to collect his/her remittance at a location ‘right next door’. Our tie up with Lanka Bell is an attempt to further strengthen our presence in key regional centers.”