go back

Bank Muscat, CBC join hands for mobile banking remittance service to Sri Lanka

MUSCAT, 25 April 2016 – Bank Muscat, the flagship financial services provider in the Sultanate, and Commercial Bank of Ceylon (CBC) have joined hands to launch mobile banking remittance service to Sri Lanka. Abdullah Tamman Al Mashani, Deputy General Manager – Institutional Sales & Products Development, signed the agreement on behalf of Bank Muscat and Palitha Perera, Assistant General Manager – Operations, signed on behalf of  CBC,  in the presence of H.E. JH Liyanage, Minister from the Embassy of Sri Lanka, Pradeep Banduwansa, Chief Manager, E-Banking CBC, Management Team members from Bank Muscat, and prominent Sri Lankan community members.

With the new facility benefiting 12,000-strong Sri Lankan community in the Sultanate, Bank Muscat customers can make mobile banking remittances to Sri Lanka by direct credit to beneficiary account with CBC or credit to beneficiary account with third party banks in Sri Lanka.

Abdullah Tamman Al Mashani said: “Bank Muscat is delighted to join hands with CBC, facilitating value added services to customers, especially the Sri Lankan community in Oman. Bank Muscat is focused on ensuring market leading and state-of-the-art products and services for customers. The new remittance service to Sri Lanka reiterates the bank’s commitment to expanding world class banking services. The customer-centric strategy of the bank will continue to enhance value added services.”

H.E. JH Liyanage said: “We congratulate the two leading banking institutions on the tie-up which is a boon for the Sri Lankan community in Oman. The technology-driven secure remittance facility ensures convenience.”

Palitha Perera said: “Commercial Bank is proud to tie up with Bank Muscat for the remittance service. The synergy between the two leading banks will significantly benefit the Sri Lankan community in the Sultanate.”

In line with the ‘Let’s Do More’ vision and focus on innovation to provide a distinct banking experience, the upgraded feature-rich mobile banking application by Bank Muscat facilitates unique services to do more banking from anywhere, anytime. 

Winner of the coveted His Majesty Sultan Qaboos Award for the Best Public eService, Bank Muscat’s mBanking is Oman’s preferred mobile banking service with more than 350,000 registered customers.

In keeping with the bank’s focus to provide world class banking products and services, especially electronic services which spell convenience to customers, the mBanking service complements the government's efforts in creating a digital society. Bank Muscat enjoys an edge in hi-tech products and services and the mBanking services in particular fulfill the banking requirements of a young, tech-savvy generation.

The ‘anytime, anywhere’ mBanking has made banking truly mobile for the largest banking family in Oman who can bank 24/7 ‘anytime, anywhere’. Notably, the mBanking application works on most of the mobile phones and is customised for iPhones, Blackberry and Android phones with simple icons and menus. The mBanking application is available in both English and Arabic.

Robust security features have been built into the ‘trusted’ mBanking application. Data exchange from this application is encrypted based on best industry standards and dual factor authentication.

Driven by the latest technological features and offering a wide range of options, mBanking presents a unique facility from Bank Muscat that lets customers bank at convenience from ‘anywhere, anytime’. For people constantly on the move, mBanking service is a boon. The remittance service will be soon available on Internet banking, with promotional offers from time to time.

Established in 1969, Commercial Bank is the largest private bank in Sri Lanka and the only Sri Lankan bank to be ranked among the top 1000 banks of the world for five successive years. CBC is the first private bank in Sri Lanka to achieve Rs.10 billion profit and surpass Rs.500 billion assets.

Commercial Bank’s superior financial stability and strength is emphasised by the fact that it has the largest market capitalisation among all listed banks and financial institutions in Sri Lanka and the highest assets base among all private banks. The bank operates the country’s single largest ATM network and has a strategically located island-wide network of branches. CBC operates 18 outlets in Bangladesh and is the third biggest foreign bank in the country.