Commercial Bank celebrates 15 years of remittance services in Kuwait

The Commercial Bank of Ceylon recently hosted the management and employees of Exchange Houses and the Bank’s premier customers in Kuwait, at an event commemorating 15 years of remittance services to Sri Lanka from the Arabian Gulf state.

The event took place at the Radisson Blu Hotel, Kuwait, in the famous ship-shaped Al-Hashemi Grand Ballroom, with the Channa Upuli Dance troupe and Sri Lankan pop, R&B and jazz singer Umaria entertaining guests. 

Sri Lankan Ambassador to Kuwait Kandeepan Balasubramaniam was Chief Guest at the event, and in his speech, commended the role played by Commercial Bank to help Sri Lankans working in Kuwait. 

Commercial Bank Managing Director Jegan Durairatnam and a team of officers, including Remittances Head Pradeep Banduwansa, represented the Bank at the event.

The Commercial Bank of Ceylon began its remittance operations in Kuwait in March 2003. Kuwait is a key market for worker remittances, with around 100,000 Sri Lankans employed in the state. Commercial Bank works with 16 business partners to serve this customer segment, and holds a substantial market share for Sri Lankan remittances from Kuwait. The Bank has also stationed two Business Promotions Officers in Kuwait to assist Sri Lankans living and working there with their banking needs. 

The Bank’s first Business Promotion Officer (BPO) too was placed in Kuwait in late 2003 to serve the large Sri Lankan work force. Kuwait also has the highest number of Sri Lankans, totalling over 160, working at exchange house counters.Commercial Bank is one of the most active players in Sri Lanka in the field of remittances, offering customers a range of options including ‘e-Exchange’ – the Bank’s own sophisticated real-time on-line money transfer service, as well as MoneyGram, Ria and Express Money remittance services. The Bank also launched its Remittance Card in Kuwait in 2016.