LuLu International Exchange: Celebrating the value of trust

LuLu International Exchange enjoys considerable brand loyalty and patronage amongst the region's expatriate population

The remittance business has grown from nearly $20.25 billion about a decade ago in India, to about $70 billion in 2014, according to reports from the World Bank. It is the largest remittance recipient country followed by China at $62 billion. Growth in remittances is expected to go steady for the next five years, with figures expected to hit $100 billion by 2020.
The sub-continent has retained its number one position for about 15 times in the past 23 years as the top recipient of remittances in the world and the past five years in a row. Inward remittances form about 22 to 23 per cent of the country's foreign exchange income and also contribute to nearly 4 per cent of the Indian GDP.
Of the $583 billion of the world remittance market, the GCC accounted for $102 billion of outward remittances. Out of this UAE recorded nearly $29 billion in outbound remittances, majority of it to the countries of India, Pakistan, Bangladesh, Nepal and Philippines. Remittances play an important role in the development of a country's economy and are a major source of income for a large number of families. India currently ranks the highest not only because of the sheer volume of the migrant labour force from the country, but also because of the ultimate desire of many to eventually return home to a better life of all the countries to which money is remitted by foreign workers.
Remittance transaction is nothing but a transfer of love and acknowledgement of trust. LuLu International Exchange upholds the very essence of trust while catering to each customer every day. LuLu International Exchange is the growing remittance and foreign exchange brand trusted by millions to send their hard earned money to their loved ones.
The operations of LuLu International Exchange is currently spread across the GCC in the UAE, Oman, Kuwait, Qatar and Bahrain, catering to the needs of customers through its over 100 global branches. With 30 branches spread across the UAE, LuLu International Exchange enjoys brand loyalty and patronage amongst the considerable expatriate population residing in the country and has tied up with the best financial institutions backed with technological proficiency with an aim to provide a fast and reliable service to its customers.
LuLu International Exchange has strategic banking arrangements with almost all the leading banks in India and is constantly working towards providing smoother, faster, and more reliable modes of transaction. Besides remittances, customers can exchange foreign currency at competitive rates and can avail other value-added services like the purchase of national bonds and mobile top-up for their home country, among others.
Adeeb Ahamed, CEO, LuLu International Exchange said, "India is one of our most important corridors considering they constitute one of the largest expat population in the GCC countries. We have seen a steady increase in the number of remittances to India these past few years and expect it to grow over the coming years as well. With major projects coming up all over the region, the economic prospects of the GCC countries are brighter than ever. The positive economic growth would result in more jobs and opportunities for expats, which would in turn translate to better remittances to their home country.
"As an organisation, we have been committed to enhance the customer experience by identifying customer requirements. The company's corporate slogan, 'Valuing Your Trust' is the reflection of the company itself. LuLu International Exchange has been successful in tirelessly delivering the best of service excellence to its customers earning their complete satisfaction and trust in the bargain."
As a socially responsible organisation, LuLu International Exchange ensures fair business practices alongside rigorous compliance to global anti-money laundering protocols in the best interest of its regulators and customers. The exchange house is well known for its strong customer focus as well as its value-laden services. It strives to provide safe, reliable and quick options for its customers to send money to their loved ones beyond borders.
LuLu International Exchange salutes the nation and congratulates the people of India on its 69^th Independence Day.

• India