ComBank celebrates 20 years of remittance services in Qatar

Thursday, 22 June 2023 03:24 - - {{hitsCtrl.values.hits}}

Highlights of the Commercial Bank event in Qatar

The Commercial Bank of Ceylon recently commemorated 20 years of remittance operations in Qatar with a celebratory event hosted for the management and employees of Exchange Houses, the bank’s premier customers and other stakeholders in this Arabian Peninsula state.

The milestone event held at the Alwadi Hotel Doha – MGallery, was graced by Sri Lankan Ambassador to Qatar Mohamed Mafaz Mohideen, as the Chief Guest. The event commenced with a welcome address by Commercial Bank Assistant General Manager – Digital Banking Pradeep Banduwansa. Providing valuable insights, the keynote address was delivered by the bank’s Chief Operating Officer S. Prabagar.

Other attendees included the bank’s remittance partners in Qatar, select Sri Lankan customers and the bank’s staff, including Deputy General Manager – Retail Banking and Marketing Hasrath Munasinghe, Senior Manager – Global Remittances Rangika Chandrasena and the bank’s Business Promotions Officers in Qatar.

The milestone was marked with a ceremonial cutting of a cake and the bank’s management also took the opportunity to felicitate remittance partners by presenting plaques as a gesture of appreciation.

Commenting on this latest milestone in remittance services, Commercial Bank Chief Operating Officer S. Prabagar said: “When the bank embarked on its remittance operations in Qatar, we introduced a web-based real time solution for sending money to Sri Lanka. We were always cognizant of the fact that the needs and aspirations of migrant workers go far beyond simply sending money home. Therefore, continuous improvement of our services portfolio focusing both remitters and beneficiaries was a priority. Over the past 20 years, Qatar has emerged as a key market for worker remittances, with approximately 120,000 Sri Lankan expatriates. Today, we are proud to have expanded our operations in Qatar with over 15 business partners, and our presence here is a testament to our successful two-decade journey.”

Commercial Bank entered the Qatar market in 2003 with its very own product ‘e-Exchange’ which was a real-time, web-based money transfer solution that was rebranded as ComBank RemitPlus in 2021. The bank introduced Sri Lanka’s first Remittance Card in 2016 and the country’s first remittance app in 2019. To cater to the size and demand of the market, Commercial Bank currently has three Business Promotion Officers and more than 15 remittance partners in Qatar.

Commercial Bank is one of the most active players in Sri Lanka in the field of remittances. Earlier this year, the bank also celebrated 20 years of remittance operations in Kuwait. One of the bank’s key strengths is its island-wide network of 271 branches, many of which remain open on public, bank and mercantile holidays, and its network of 952 machines, which is the largest automated cash dispensing system owned by a single private bank in Sri Lanka. Recipients of remittances sent to the bank enjoy many benefits such as Holiday Banking Centres and supermarket counters, a dedicated customer support call centre for remittances and SMS alerts facilities once the remittance is received and is ready to be paid out.

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