NSB partners UNISTREAM

National Savings Bank, became the first bank in Sri Lanka to partner with the Moscow-based Commercial Bank UNISTREAM, which has made its presence in over 95 countries. The Russian Bank is an operational and organizational centre for the Unistream Money Transfer system .

This partnership will facilitate inward remittance of non-resident Sri Lankans through the worldwide presence of UNISTREAM and the islandwide presence of NSB.

'Over 1.5 million Sri Lankans living and working overseas send home around Rs 370 billion each year, which accounts for about 8 percent of the country's GDP. Taking into consideration the size of the global remittance market and the role NSB plays in the economy of Sri Lanka, NSB's partnership with UNISTREAM is a significant milestone targeting the growing Sri Lankan Diaspora worldwide', said National Savings Bank General Manager/CEO H M Hennayake Bandara.

'We believe that due to the growing demand for remittances globally and Sri Lanka particularly, the project will be very popular and successful. By integration with UNISTREAM we add one more attractive and affordable option to our product line' he said.

The set of services offered locally by this partnership includes cash to cash option, cash to account option and bank cheque delivery.

While at the beginning UNISTREAM's services are available in over 160 locations across the country, it is planned to expand the network to 200 locations by the end of the year.