HNB introduces holistic retail banking package for migrant workers

Sri Lanka’s leading private sector bank, HNB PLC, has launched HNB Adhishtana package, offering a host of value additions for migrant workers and their families.

“Leveraging on the bank’s extensive understanding of financial and social requirements of migrant workers and their families, the bank designed the programme to support sustainable livelihood development and well-being for migrant Sri Lankans and their families,” it said in a media release.

The savings account linked to the HNB Adhishtana package enables Sri Lankans employed across the globe to gain direct access to a secure, convenient and cost-effective method of sending funds to their loved ones back home.

The launch of HNB Adhishtana package was held at HNB Towers under the patronage of Central Bank (CB) Governor Ajith Nivard Cabraal and HNB Managing Director/Chief Executive Officer, Jonathan Alles among other officials.

“The CB and the government has recognised the immense contribution made by Sri Lankan migrant workers, as the funds they send back home to their loved ones are not only used to achieve their goals but is also necessary for the country to fulfill its own needs. Given the important role they play we need to ensure they have convenient and secure channels to send funds while also ensuring we help them achieve their own personal financial goals. Today, a bank is not just an institution for providing loans. They are increasingly becoming organisations which first and foremost, empower people, communities and enterprises to achieve their goals and fulfill their needs. I am delighted that HNB is working with such enthusiasm to serve the needs of Sri Lankan migrants and their families back home by launching the Adhishtana programme. We hope to see other institutions collaborate in such a manner to roll out programmes for remitters across the globe,” Mr. Cabraal said.

A special debit card will be issued for HNB Adhishtana account holders for identification purpose and the bank will offer many value additions to customers who continuously send remittances to Sri Lanka through HNB.

Customers can route a compulsory savings component to their HNB Adhishtana account to be eligible for an exclusive housing and micro finance facility.

“Having worked in this space for over 30 years, HNB has long understood that migrant workers who remit their earnings back home are an essential part of the Sri Lankan economy. It is with that understanding that the Central Bank Governor asked HNB to get involved in creating a product which could support the aspirations of remitters and their families. We hope that the example we are setting today with the launch of the Adhistana programme and the numerous benefits tied to it, will serve to inspire our peers in the private and public sectors to develop similar initiatives to reward remitters for their invaluable contributions,” HNB Managing Director/CEO, Jonathan Alles stated.