HNB expands services

Hatton National Bank (HNB PLC), has launched commercial operations to facilitate remittance services from Canada to Sri Lanka. The service will be provided through its subsidiary Money Service Business (MSB) in Canada, Commercial Interlink Services Inc., under the banner "Delma Exchange Canada".

Delma Exchange is a Money Service Business registered with and regulated by Fintrac. It is owned and managed by the HNB which was recognized as Euromoney-Best Bank in Sri Lanka 2009 and Asian Banker- Best Retail Bank in Sri Lanka 2008.

HNB's CEO and Managing Director Rajendra Theagarajah said, "Canada is a very important corridor for inward remittances to Sri Lanka. With an estimated half a million Sri Lankans living and working here, Canada is a much valued source of remittances into Sri Lanka and to Hatton National Bank. We pioneered this initiative amongst Sri Lankan commercial banks by setting up our own MSB catering to the needs of the Sri Lankan community.

Customers of Delma will have to complete a one-off registration process. A customer can choose to transact from home or office or even while on the move by using the web browser on a cell phone handset. Instructions are accepted to either credit the customer's Bank account in Sri Lanka or pay cash on production of ID by a named beneficiary. Delma is not confining this service only to account holders of HNB but will make this service available to customers of any Licensed Commercial or Licensed Specialized Bank regulated by the Central Bank of Sri Lanka.

With an asset base of over Rs. 260 billion, HNB is highly focused on providing a cost effective, user friendly and efficient service relating to remittances.

"We have continuously adopted innovation and changed our service offerings to meet the expectations of our loyal customers. In Canada, our focus is to work with Sri Lankans or Canadians who already have a Canadian bank account with a bank regulated by the Bank of Canada so that transactions are processed in accordance with accepted "Know your customer" and Anti Money Laundering procedures. Delma Exchange's own internal procedures supported by the strong backing and infrastructure of HNB would ensure that Best-in Class practices would be maintained", said President of Delma Exchange Canada Tharini Mahesan.