The Commercial Bank of Ceylon opened its representative office in Yangon on Monday, launching its operations in Myanmar.
It will initially to offer Advisory Services to Sri Lankan and Bangladeshi businesses wishing to enter that country, and to arrange Banking and Advisory facilities, funds transfer and encashment services.
Commercial Bank is the first Sri Lankan bank to be granted a licence by the Central Bank of Myanmar to operate a Representative Office in the country.
The Bank’s Representative Office, located at No 42 A, Pantra Street, Dagon Township, Yangon, Myanmar was opened by Bank’s Chairman Dharma Dheerasinghe. Dheerasinghe said there is significant potential to increase bi-lateral trade between Myanmar and Sri Lanka, and that there is interest among Sri Lanka’s leading apparel exporters and other industries to set up operations in Myanmar.” The presence of a Representative Office of Sri Lanka’s largest private bank would facilitate this process, and be mutually beneficial to the two countries.” Commercial Bank Managing Director and CEO Jegan Durairatnam said it would also be possible for Commercial Bank to build closer relationships with Myanmar banks and offer them its experience in very successfully moving from manual and mechanical systems to high-tech banking.
www.dailynews.lk
It will initially to offer Advisory Services to Sri Lankan and Bangladeshi businesses wishing to enter that country, and to arrange Banking and Advisory facilities, funds transfer and encashment services.
Commercial Bank is the first Sri Lankan bank to be granted a licence by the Central Bank of Myanmar to operate a Representative Office in the country.
The Bank’s Representative Office, located at No 42 A, Pantra Street, Dagon Township, Yangon, Myanmar was opened by Bank’s Chairman Dharma Dheerasinghe. Dheerasinghe said there is significant potential to increase bi-lateral trade between Myanmar and Sri Lanka, and that there is interest among Sri Lanka’s leading apparel exporters and other industries to set up operations in Myanmar.” The presence of a Representative Office of Sri Lanka’s largest private bank would facilitate this process, and be mutually beneficial to the two countries.” Commercial Bank Managing Director and CEO Jegan Durairatnam said it would also be possible for Commercial Bank to build closer relationships with Myanmar banks and offer them its experience in very successfully moving from manual and mechanical systems to high-tech banking.
www.dailynews.lk
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