Joins hands with Western Union

Colombo, Tuesday 15th February 2022: Commercial Credit and Finance PLC, one of Sri Lanka’s premier non-bank financial institutions, recently joined hands with MMBL Money Master (brand name of MMBL Money Transfer (Pvt) Ltd), a joint venture between Mercantile Merchant Bank and Aitken Spence PLC, the largest representative in Sri Lanka for Western Union money transfers.

This timely partnership will enable the public to collect remittances sent through Western Union at any Commercial Credit branch across its expansive network in 129 locations islandwide. The newly forged partnership brings Commercial Credit customers a leap closer to their loved ones residing overseas. The operations are set to officially commence on 17 February 2022.

Speaking on the partnership with the global leader in cross-border and cross-currency money movement and payments, Commercial Credit’s Director/COO Rajiv Cassie Chitty said, “Our main focus has always been to empower our customers. We have striven to meet this goal over the years, and by joining hands with MMBL Money Master, we hope they are better able to access and carry out transactions with ease. Given the current situation around the globe, we know that distance between loved ones here and those overseas has remained a weighted burden on families. We do what we can to ensure that our customer’s burdens are lessened in this aspect at least.”

Director, Aitken Spence Group Ltd and Managing Director of MMBL Money Transfer (Pvt) Ltd Dinesh Mendis said: “We are pleased to add Commercial Credit Finance PLC to our portfolio of partners which will no doubt be of immense benefit to beneficiaries of remittances received via Western Union across the Country. We see this as yet another milestone in our two and a half decade plus journey in facilitating our mission of improving access to receive remittances and giving the consumer the widest choice of easily accessible “right next door” locations’’.

Commercial Credit and Finance PLC was established in 1982, and offers a wide range of services, including loans, leasing and hire purchases, fixed deposits, micro-financing, and revolving business loans. The Company merged with Trade Finance and Investments PLC, in line with the financial sector consolidation program initiated by the Central Bank of Sri Lanka, boosting its network in the country.

Focused on enabling growth, Commercial Credit has supported countless entrepreneurial ventures and has helped uplift marginalised individuals and communities across Sri Lanka while providing innovative and groundbreaking solutions catered to the unique requirements of its customers.

Today, Commercial Credit and Finance is one of the leading non-bank financial institutions in Sri Lanka, having won numerous awards, including ‘People’s Advertisement of the Year’ four times at the SLIM-Neilson Peoples Awards, the Global Award for Brand Excellence in BFSI (Banking and Finance Services Industry), and the Gold Award for ‘Service Brand of the Year’ and Bronze Award for ‘Local Brand of the Year’ at the SLIM Brand Excellence Awards. The Company was also included in the Business Today’s Top 30 Awards for 2019/20. It was also awarded the Brand of the Year at the SLIM Brand Excellence 2015.