December 4, 2022


local businesses

LuLu Financial Solutions Expands Banknotes Enterprise With New Currency Import-Export License

MANILA, The Philippines–(Organization WIRE)–LuLu Money Expert services Phils- a main fiscal solutions supplier in the country, has been granted approval from the central financial institution i.e. Bangko Sentral Ng Pilipinas (BSP) and Bureau of Customs, to carry out cross-border bodily transfer of overseas currencies in the Philippines.

The acceptance is an update to the company’s existing license which authorized it to ship banknotes to nations overseas, particularly individuals in the GCC, in APAC Area and the Indian subcontinent.

Lulu Financial Expert services, which is majorly owned by the Abu Dhabi-based mostly Lulu Economical Holdings, commenced operations in the state in 2015, and has since developed into a person of the most trusted support suppliers in Asia Pacific.

Speaking about the growth, Mr. Adeeb Ahamed, Taking care of Director of LuLu Economic Holdings, explained, “The APAC area is a hub of world economical services, and the import-export license enables us to enjoy a more proactive role in the wholesale banknotes sector, trying to keep Philippines as a regional hub. Backed by our world-wide presence in 11 nations, we are assured that Lulu Economic Services Phils will be capable to develop meaningful gains to the area economic system and lead to vital locations of the financial solutions ecosystem, to come to be a top participant in this sector.”

Offering a extensive selection of expert services and electronic products which include remittances, international forex exchange, e-wallet and other benefit-added expert services, the new license positions the organization among the an exceptional variety of financial provider providers in the state, who are authorized to trade in the bodily import & export of international currencies.

Mr. Sunil Kumar, Basic Manager of LuLu Economical Companies Phils, reported, “It is certainly a milestone occasion for Lulu Monetary Companies Phils, thinking about that we are the only non-bank monetary institution authorized by the regulators to have interaction in the export/import of international currencies. MSBs, forex trading sellers and even banking institutions have welcomed this advancement and we continue being committed in our mission to provide the optimum expectations of company to our regional and world associates.”

LuLu Monetary Solutions Phils operates branches at a number of strategic locations in the nation and is established to expand its actual physical and electronic presence in the coming months, which includes opening new branches, and the introduction of new attributes connected to the e-wallet on LuLu Money application.

*Source: AETOSWire