LuLu Exchange International Exchange: Pioneering innovations in the payments sector
Q&A with Adeeb Ahamed, MD, LuLu Exchange & Secretary, FERG
Please share a short brief on your brand’s association with the Central Bank of the UAE.
Lulu International Exchange is licensed and regulated by the Central Bank of the UAE (CBUAE). As such, the association we have with regulators is of prime importance. The company started its journey in the UAE remittances and money exchange business, entering the market in 2009, and has over the years expanded to 74 branches in the country with an additional 150+ branches in 9 other countries under the banner of the LuLu Financial Group.
As one of the premium money exchange houses in the UAE and the greater Middle East, how has your brand helped the country’s burgeoning remittance sector to thrive over the years?
Over the last 10 years, LuLu International Exchange has introduced several innovations in the payments sector, including the launch of its proprietary payments app, LuLu Money. The latest innovation has seen the company activate salary cards as a payment option on the app and move to a cloud-based system for better customer service and security. Today, LuLu International Exchange is one of the few homegrown companies to venture outside the UAE, operating a total of 220 branches in 10 countries, in the Middle East, Indian sub-continent and APAC markets.
Please share a short and exclusive message congratulating the UAE Central Bank on its 40th anniversary and how you see your brand building on the long and fruitful partnership built upon and shared by both entities.
On the occasion of its 40th Anniversary, we thank Central Bank of UAE for the support and guidance it has provided us down the years. The CBUAE’s support has been crucial in our journey to establish our brand in the country and grow at a rapid pace.
