Emirates NBD extends 60 second DirectRemit platform to Sri Lanka

Emirates NBD, a leading bank in the region, today announced the launch of its 60 second DirectRemit service to Sri Lanka, in partnership with Hatton National Bank. DirectRemit, considered the fastest remittance service from the UAE, allows customers to remit money home instantly online and with no remittance fees.

The service will enable Emirates NBD customers to perform remittances to Hatton National Bank (HNB) accounts in Sri Lanka in less than 60 seconds, and transfers to other Sri Lankan banks within one working day.

The service was formally launched by Suvo Sarkar, Senior EVP & Group Head – Retail Banking & Wealth Management, Emirates NBD and Jonathan Alles, MD & CEO, Hatton National Bank in the presence of Arjuna Mahendran, Governor, Central Bank of Sri Lanka.

Hatton National Bank is a premier private sector commercial bank operating in Sri Lanka with 249 branches spread across the island. The bank has been internationally recognized by the Asian Banker Magazine as the Best Retail Bank in Sri Lanka for 2015. The partnership with the leading bank in Sri Lanka is in keeping with Emirates NBD’s strategy to provide a complete suite of financial solutions to its customers whilst ensuring enhanced customer convenience.

Commenting on the partnership, Suvo Sarkar, Senior EVP & Group Head – Retail Banking and Wealth Management, Emirates NBD, said: “We are delighted to join hands with Hatton National Bank to be able to facilitate fast and easy remittances for our Srilankan customers. The DirectRemit platform is amongst our most popular services as it provides customers with an on-the-go, quick and free mechanism to transfer funds instantly to their home country. We are confident that our customers will take advantage of this new tie up to carry out remittances to meet all their ongoing requirements.”

Mr. Jonathan Alles, MD & CEO, Hatton National Bank said, “We are pleased to partner with Emirates NBD to launch this service. HNB has a large customer base in the UAE and this partnership will help all our customers to carry out remittances instantly and conveniently at zero fees.”

On the occasion of launch of the service, Arjuna Mahendran, Governor, Central Bank of Sri Lanka, commented,” The UAE is home to over 300,000 Srilankan nationals and the launch of this service through the partnership of Hatton National Bank and Emirates NBD will be welcomed by all non-resident Srilankans to send money home easily and instantly.”

With DirectRemit, customers will not only be able to transfer funds to their family back home instantly, but also make home loan payments, pay bills, remit insurance premiums or carry out investments more easily and conveniently. Customers can avail of the 60 seconds money transfer service via online and mobile banking.

Since the introduction of the DirectRemit service to India in 2014, Emirates NBD has expanded the service to cover Philippines, Pakistan and now Sri Lanka with more corridors expected to be launched in the near future.