SANASA joins MMBL to offer Western Union(r) Money Transfer service

AGREEMENT: MMBL Money Transfer (MMBL) and Sanasa Development Bank (SDB) have entered into an agreement to offer Western Union money transfer services through their network in 27 locations.

Western Union is a leading provider of global money transfer services and is listed in the New York Stock Exchange (NYSE). Together with its affiliates Orlandi Valuta and Vigo, Western Union operates through a network of more than 305,000 Agent locations in over 200 countries and territories.

MMBL a joint venture company between Aitken Spence & Co., and Mercantile Merchant Bank Ltd represents Western Union as Agent to handle money transfer services.

The MMBL network spreads across Sri Lanka including banks, financial institutions and retail outlets. MMBL’s strategy is to provide easy access to every Western Union customer allowing them to collect their remittance at a location “right next door”. Sanasa Development Bank owned largely by SANASA societies spread throughout the country and by thousands of Sanasa members, focuses more on improving the lives of low-income communities of both urban and rural areas.

“We are pleased to announce our partnership with MMBL that will provide our customers with a reliable and fast method to make international cash transfers under the same roof”, said CEO, SDBL Nimal Mamaduwa.

In addition to enriching the bank’s range of financial services, SDB’s partnership with MMBL is expected to enhance the presence of the globally trusted Western Union brand in the regional centres of the country.