At 3.5 million people, the United Arab Emirates is home to the largest population of Indian migrants globally, making the UAE the top source of remittances for India.
Recognizing a need to enhance the cross-border payments experience in one of the biggest remittance corridors in the world, LuLu Exchange, a leading Abu Dhabi-based financial services provider partnered with leading Indian private sector financial institution Federal Bank.
Through RippleNet Cloud, cross-border transactions into India made through LuLu Exchange’s 78 branches in the UAE and the LuLu Money mobile payments app are faster and more reliable.
LuLu International Exchange, the UAE’s leading payments provider offering cross-border remittances and currency exchange services, opened its 78th branch in the country at Kalba on Sunday. The branch was inaugurated via an online function attended by Adeeb Ahamed, Managing Director of LuLu Financial Group, and other senior management of the group. The branch marks the company’s 13th in Sharjah, and is the 229th global branch of LuLu Financial Group. Ahamed congratulated the team for staying committed to their strategy for 2021 in line with evolving market dynamics.
“The UAE economy is displaying strong positive indicators of recovery, and as a forward-thinking financial services provider, we remain committed to bringing our services to underserved locations across the country. Sharjah is home to several expats and businesses, and through qualitative offerings, we aim to fulfill their payments needs through our network of branches and our digital payments app LuLu Money,” he said.