MMBL-Money Transfer achieves record US $ 350.8mn in worker remittances in 2024

Last Updated on February 2, 2025 6:01 am

MMBL-Money Transfer was responsible for bringing in a record US $ 350.8 million in foreign exchange into Sri Lanka in 2024.

This represents 5 percent of the total worker remittances that came into the country last year. This also accounts for 77 percent of the overall Western Union remittances to the country. MMBL-Money Transfer is a 50/50 joint venture between Aitken Spence PLC and the MMBL-Pathfinder Group.

The business model of the company, branded MMBL-Money Master, operates through a unique platform that consists of a comprehensive network of over 3,000 agents spread throughout the island. MMBL-Money Transfer, which represents global brands such as Western Union, MoneyGram and Ria Money Transfer, occupies an indispensable position in Sri Lanka’s critical inward worker remittance sector. Over the years this pioneering Aitken Spence PLC/MMBL-Pathfinder Group partnership has been responsible for bringing in several billion US dollars in foreign exchange to the country, serving millions of Sri Lankans here and abroad.