Pan Asia Bank strengthens national remittance framework with ‘Remit Max’

Pan Asia Bank launched its new ‘Remit Max’ product suite at a ceremony held on July 3, at Epitom Hotel, Kurunegala, reflecting its commitment to strengthening Sri Lanka’s formal inward remittance ecosystem while delivering innovative financial solutions tailored specifically for migrant workers and their families.

The launch was attended by the Chairman of Pan Asia Bank, Director/CEO, members of the Corporate Management team, senior officials representing the Sri Lanka Bureau of Foreign Employment (SLBFE), including the Additional General Manager and the Centre Manager of the Kurunegala Centre, together with owners, directors, partners and proprietors of many leading licensed Foreign Employment Agencies operating across the Kurunegala and Dambulla regions.

The highlight of the evening was the unveiling of the ‘Remit Max’ brand identity and logo, followed by the launch of two innovative financial products developed exclusively for the migrant worker segment: the ‘Remit Max Savings Account’ and the ‘Remit Max Pre-Departure Loan Facility’.

The ‘Remit Max Savings Account’ has been specially designed for Sri Lankan migrant workers and their beneficiaries, with the objective of encouraging formal inward remittances, promoting disciplined savings habits, strengthening long-term customer relationships and enhancing financial security for migrant families.

The Bank also introduced the ‘Remit Max Pre-Departure Loan Facility’, a dedicated financing solution created to support individuals preparing to seek overseas employment. The facility is designed to ease the financial burden associated with pre-departure expenses such as agency fees, documentation costs, medical examinations, visa processing charges, travel arrangements and other essential requirements that aspiring migrant workers typically encounter prior to departure.

The Chief Manager Consumer Credit of Pan Asia Bank, Dhanushka Sapugasthanna subsequently presented the eligibility criteria, features and operational aspects of the Remit Max Pre-Departure

The formal presentations were followed by an engaging and interactive question-and-answer session, during which representatives of participating Foreign Employment Agencies sought clarifications relating to product features, operational procedures and customer onboarding processes.

Officials representing both Pan Asia Bank and the Sri Lanka Bureau of Foreign Employment responded to the queries. Guests shared positive feedback on the ‘Remit Max’ proposition, discussed future opportunities for collaboration and commended the Bank’s initiative to develop specialised financial solutions dedicated to Sri Lanka’s migrant worker community.

Pan Asia Bank Director/CEO Naleen Edirisinghe said: “Foreign remittances continue to remain one of Sri Lanka’s most important sources of foreign exchange earnings and have played an indispensable role in strengthening the country’s economic resilience over the years. As a truly Sri Lankan bank, we believe migrant workers deserve financial solutions that recognise their contribution and support them throughout their entire journey. ‘Remit Max’ represents a strategic evolution of our remittance business and reflects our commitment to creating a holistic ecosystem that delivers meaningful value to migrant workers and their families rather than simply facilitating transactions.”

Pan Asia Bank Chairman Aravinda Perera said; “While Pan Asia Bank is a relatively new participant in Sri Lanka’s remittance sector, we chose to enter the market with purpose rather than speed: investing time to understand the needs of migrant workers and their families, build the right capabilities and create solutions that deliver meaningful value.”

Source: Daily News