Pan Asia Bank establishes INR Nostro account to strengthen regional trade

Pan Asia Banking Corporation PLC has taken a significant step towards enhancing trade transactions between Sri Lanka and India, and announced the opening of an INR Nostro Currency Account with Standard Chartered Bank (SCB) India, a prominent player in the Indian banking sector. 
By establishing the INR nostro account, Pan Asia Bank aims to streamline and expedite trade settlements benefiting businesses engaged in cross-border trade. 
Speaking on this significant development, Richie Dias – Deputy General Manager Treasury of Pan Asia Banking Corporation PLC stated, “This initiative is a testament to our commitment to facilitate our customers with a comprehensive suite of trade finance solutions that cater to their needs. We believe this partnership will enable businesses to optimize their trade opportunities to promote greater financial inclusion across borders, backed by our professional team.”
The newly-formed partnership with Standard Chartered Bank – India is expected to boost Pan Asia Bank’s ability to facilitate smooth INR transactions, offer competitive exchange rates and enable timely remittances for both corporate clients and individual customers. By leveraging Standard Chartered Bank India’s extensive network and expertise in the local market Pan Asia Bank aims to enhance its service offering and deliver exceptional value to its diverse clientele.
Pan Asia Bank’s Senior Manager Trade Operations/Financial Institutions, Indika Liyanage expressed his enthusiasm regarding the collaboration, “The opening of INR Nostro Account with SCB India is a significant achievement for us. India is a thriving economic powerhouse, and we are committed to providing our customers with unparalleled banking solutions that align with their diverse financial needs.”