Pan Asia Bank has entered into a strategic partnership with the Sri Lanka Export Credit Insurance Corporation (SLECIC) to further enhance its Remit Max Pre-Departure Loan Scheme to enhance its Remit Max overall package for migrant workers, by incorporating the APARA Guarantee Cover, providing aspiring Sri Lankan migrant workers with greater access to structured financing for pre-departure and migration-related expenses.
The inclusion of the SLECIC APARA Guarantee Cover strengthens the proposition by helping eligible applicants obtain the pre-departure financial support required to meet expenses associated with securing employment abroad.
The Pre-Departure Loan Scheme, as part of its Remit Max package for migrant workers, was introduced by Pan Asia Bank to ease the financial burden faced by individuals seeking overseas employment, offering a dedicated financing solution for costs incurred prior to departure. The addition of APARA Guarantee Cover offers an enhanced level of financial support, enabling more prospective migrant workers to access funding with greater confidence while promoting safe and responsible worker migration.
The collaboration reflects the shared commitment of Pan Asia Bank and SLECIC to empowering Sri Lankan migrant workers and their families while contributing to the country’s foreign remittance inflows, which remain an important pillar of the national economy.
Buddhika Perera, Assistant General Manager – Deposit Mobilization & Customer Experience at Pan Asia Bank said, “The Remit Max package has been carefully designed around the complete customer journey of aspiring migrant workers and their families. We understand that securing overseas employment involves significant financial commitments even before departure, and our objective has always been to provide timely, accessible financial solutions at every stage of that journey. The integration of the APARA Guarantee Cover with the newly launched pre departure sub product further strengthens this proposition by expanding access to financing, giving customers greater confidence as they take this important step towards building a better future for themselves and their families.”
Commenting on the partnership, Dhanushka Sapugasthanna, Chief Manager – Consumer Banking at Pan Asia Bank said, “Pan Asia Bank is committed to developing financial solutions that address the real needs of our customers. By partnering with SLECIC to strengthen the Pre-Departure Loan Scheme with APARA Guarantee Cover, we are making it easier for aspiring migrant workers to access the financial assistance they need to pursue overseas employment without stress.”
Commenting on the partnership, Prof. Aruna Shanthaarachchi, Chairman/Managing Director of SLECIC said, “The APARA Guarantee Cover was introduced to improve access to finance for prospective migrant workers by sharing credit risk and supporting responsible overseas employment. Our partnership with Pan Asia Bank expands the reach of this important initiative, enabling more Sri Lankans to access formal financial support as they prepare for overseas employment while contributing to the country’s foreign exchange earnings and broader economic development.”
