NSB delegation in Kuwait to promote banking services
Posted on July 16th, 2010

Embassy of Sri Lanka Kuwait

The Chairman of the National Savings Bank ( NSB ), Mr. Pradeep Kariyawasam accompanied by the bank’s General Manager / CEO, Mr. H.M. Hennayake Bandara visited Kuwait from 8th “”…” 11th July on a promotional mission aimed at introducing and promoting NSB banking sector products and services amongst the Sri Lankan community in Kuwait.  The Embassy facilitated the visit and assisted the delegation in their official programme in Kuwait.  

 The Chairman and the General Manager, as part of their schedule in Kuwait addressed the members of the Sri Lanka Manpower Welfare Association             ( SLMWA ) at its AGM at Holiday Inn Hotel on 9th July, which was held under the patronage of NSB.  Speaking on that occasion, Chairman thanked the SLMWA for their generosity and goodwill toward the migrant workers and appealed to them to take good care of workers at all times.  Speaking further, he noted  Kuwait is the first leg of his maiden tour as Chairman / NSB and that he is determined to help the Sri Lankan expat workers and offer them a safe passage to remit their hard earned money to Sri Lanka.  The Chairman referred the NSB as a “Sleeping Giant” and added that the NSB is the only state bank having an exclusive network island wide through post offices and therefore is in a unique  position to cater to the needs of all Sri Lankans living in the remotest of areas throughout Sri Lanka.  The General Manager also spoke and introduced bank’s specialized schemes and advanced banking tools which enabled the bank to win “AAA Ratings” for seven successive years. 

 The delegation also met with exchange commission representatives in Kuwait and had extensive discussions on the prospects of strengthening NSB services and operations  in Kuwait under the initiatives launched by the bank for the benefit of Sri Lankans in the Middle East and Gulf countries.   

 The Chairman and the General Manager prior to their departure on 11th July visited the Sri Lankan Embassy and briefed the Staff on NSB’s role and its effectiveness as an exclusive service provider in the banking sector.  It was noted that the NSB will soon strengthen and enhance its network of services in Kuwait with the help of exchange commissions and the likeminded. For this purpose Chairman said the bank would undertake a promotional campaign in the Gulf and the Middle East aimed at attracting foreign investments and at the same time encouraging expatriates to increase their remittances to Sri Lanka through safe and innovative banking mechanisms that will guarantee their hard earned money a safe channel of repatriation with government security.   The Chairman and General Manager/CEO of NSB were accompanied on this tour by Mr. Ifthicar Ahamed, the Business Promotion Consultant of the Bank, entrusted with the responsibility to coordinate the consolidation of existing arrangements and secure new arrangements for the bank, concerning its presence, handling foreign remittances of Sri Lankans working in the Middle Eastern countries.

 Sri Lanka’s  Ambassador to Kuwait, Sarath Dissanayake in his remarks pointed out the importance of having speedy and direct channels for the remittance of funds which he said are vital features  for banks to remain competitive among their counterparts in the market.  He also said that the visit of the NSB delegation, perhaps the first by  a Chairman of a state bank is a reflection of the NSB’s commitment to the sector and to the Sri Lankan community’s banking needs in Kuwait. 

 Discussions were also centered on other matters such as promotion of investments, trade, tourism, culture, employment opportunities etc. for which the NSB delegation pledged their continuous support and cooperation. Both sides discussed ways and means of promoting foreign exchange remittances and investments to Sri Lanka thereby contributing for the socio-economic development of the motherland.  

 Embassy of Sri Lanka


July 15, 2010

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