06 August, 2024, Ajman, UAE: ruya, the UAE’s digital-first Islamic community bank, has announced a strategic partnership with LuLu Exchange, one of the UAE’s leading financial services companies. This collaboration allows ruya customers to deposit cash directly and instantly into their ruya accounts at any of the 140LuLu Exchange customer engagement centers across the UAE, free of charge.
ruya continues to transform the banking services domain by providing a wide range of financial services through innovative, secure and fast technologies .LuLu Exchange has been at the forefront of revolutionizing the cross-border payments space by leveraging innovative technology, expanding its service network, and prioritizing customer-centric solutions. This partnership strengthens LuLu Exchange’s ongoing associations with digital banks and technology companies, enhancing the company’s fintech products.
In addition to this new service, ruya already enables its customers to open bank accounts in less than five minutes using UAE Pass. The arrangement further empowers ruya customers by offering them the convenience of cash deposits through any LuLu Exchange branch in the UAE.
Christoph Koster, CEO of ruya, said: “This partnership with LuLu Exchange highlights our commitment to enhancing the customer experience and expanding our service offerings. By enabling cash deposits through LuLu Exchange branches, we are making banking more accessible and convenient for our customers.”
Thampi Sudarsanan, CEO of LuLu Exchange UAE, also commented on the partnership: “We are delighted to collaborate with ruya, a forward-thinking digital-firstIslamic bank. This partnership broadens our service portfolio and reaffirms our dedication to innovative financial solutions that benefit the community.”
Guided by the values of fairness, transparency and social responsibility, ruya prioritises community engagement, actively supports families, entrepreneurs, local businesses and reinvests in the communities it serves.
About ruya
Headquartered in Ajman and licensed by the Central Bank of the UAE as a Specialised Bank in 2024, ruya (Ruya Islamic Community Bank LLC) is a fusion of innovative technology and the enduring principles of Islamic Banking, designed for individuals and businesses alike, delivering a seamless digital banking experience built on robust security and intuitive design. Guided by the pillars of fairness, transparency, and social responsibility, ruyais deeply rooted in the community supporting families, entrepreneurs and small businesses while fostering financial literacy and inclusion through open-door community centers that serve as hubs of education and support.
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Website: www.ruyabank.ae
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About LuLu Exchange
LuLu Exchange is a UAE-based financial services company offering seamless cross-border payments, foreign currency exchange, Wage Protection System (WPS) solutions, and value-added services. Licensed by the Central Bank of the UAE, LuLu Exchange has a robust network of 140customer engagement centers.Their flagship LuLu Money App is aone-stop solution for all international money transfer services.
For media inquiries:Ajit Johnson; ajit.johnson@lulufin.com
