Main Category: News

LuLu Forex, a trusted name in foreign exchange and outward remittance services with a strong pan-India presence, and LuLu Finserv, a fast-growing microlending and financial services provider, have announced a partnership with the Argentine Football Association (AFA), signing on as their Regional Fintech Partners.

This sponsorship is part of a larger global agreement through which the various entities under LuLu Financial Holdings, across 10 countries, will become official AFA partners within their respective regions. In India, LuLu Forex and LuLu Finserv will together represent the brand as official partners, while other group entities such as LuLu Exchange and LuLu Money will take on the partnership role in the GCC countries, Malaysia, the Philippines, and Singapore.

The partnership, which initially runs through mid-2026, was officially unveiled at an event held in Dubai on Tuesday, in the presence of Argentina’s World Cup-winning coach Lionel Scaloni, senior LuLu Financial Holdings leadership, and AFA executives. The agreement spans a key period in global football, culminating in the 2026 FIFA World Cup in the USA, Canada, and Mexico, where the reigning champions will defend their crown.

Over the next twelve months, customers of LuLu Forex and LuLu Finserv can look forward to a range of exciting campaigns and fan-centric activations through the customer engagement centers. These will include contests and promotions offering exclusive prizes such as match tickets, official AFA merchandise, and even opportunities for meet-and-greet experiences with players.

“For countless fans, the Argentine team represents more than football – it symbolizes hope, resilience, and joy,” said Adeeb Ahamed, Founder and Managing Director of LuLu Financial Holdings. “These are the same emotions that shape the everyday journeys of our customers, who use our services to care for their families and build better futures. This partnership is a celebration of that shared spirit.”

Claudio Tapia, President of the AFA, said: “We are delighted to have the LuLuFin family as new regional sponsor of the Argentine Football Association for the Middle East, APAC and India. AFA’s international expansion continues to grow, incorporating prestigious groups in important territories for our national team. We celebrate this new agreement, which has a strong bond with the Indian community, printing such affection for our team. We share the same values and the importance of teamwork. Today we welcome the LuLuFin family as new regional sponsors of the Argentine national team.”

Leandro Petersen, Commercial and Marketing Director of AFA, said: “This new regional sponsorship with LuLu Financial Holdings, through its flagship brands in strategic territories such as India, APAC and the Middle East, marks a new step in the global expansion of the AFA brand. Since we arrived in the Middle East and India, we have seen strong support for the Argentine National Team. We are proud to continue positioning the team as a benchmark in the sports industry and generate close identification with the Indian community by each of our commercial agreements. We are pleased that LuLu Financial Holdings has chosen the Argentine Champions as its brand image for this renewed World Cup period. We are very excited and confident that this agreement will be a great success in the market.”

This collaboration reinforces LuLu Financial Holdings’ vision of building meaningful global partnerships that resonate with its diverse customer base. By aligning with the spirit, resilience, and global appeal of Argentine football, LuLu Forex and LuLu Finserv aim to deepen their emotional connection with communities they serve — both on and off the field.

In celebration of the 13th anniversary, LuLu Forex made a meaningful contribution to the community by sponsoring the construction of a much-needed play area for the students of St. Augustine’s U.P. School in Thykoodam, Ernakulam, Kerala. This CSR initiative underscores the company’s commitment to social responsibility and community development.

LuLu Finserv’s Managing Director and CEO, Mr. Surendran Amittathody, along with Mr. Shibu Mohammed, Director, LuLu Forex presented the contribution to the school authorities, symbolizing the company’s ongoing commitment to social responsibility and community development.

The new play area will benefit the school’s 280 students, ensuring they have access to modern facilities and safety measures that foster a safe and enriching environment for physical activities, which are vital for both sports and entertainment.

During the ceremony held at the school, Rev. Fr. Sebastian Joby, Vicar of St. Raphael Church, presided over the function. The school’s HM, Smt. Neena C.J., welcomed the guests, while PTA President, Jose Rabsant expressed gratitude with a heartfelt vote of thanks.

Since its inception in 2011, LuLu Forex has charted an impressive growth path, steadily expanding its reach across India to meet the growing needs of its diverse customer base with a choice of financial services, right from online forex solutions to providing outward remittances, travel cards and other value added services across its strategically located customer engagement centers in semi-urban and emerging markets, ensuring accessibility and convenience for customers nationwide.

LuLu Forex, a leading foreign exchange service provider in India, inaugurated its 31st Customer Engagement Center at LuLu Mall, Kozhikode.

The grand opening was officiated by LuLu Group Chairman, M. A. Yusuff Ali, in the presence of Adeeb Ahamed, Managing Director of LuLu Financial Holdings; P. A. Abdul Ghafoor, Chairman of Bimbis Group; M. P. Ahammed, Chairman of Malabar Group, Shibu Muhammad, Director of LuLu Forex, and other distinguished guests.

LuLu Forex continues to deliver top-notch financial services, catering to the diverse needs of consumers in the Malabar region which has a high number of individuals engaged in overseas sectors. The new branch offers an array of services, including foreign currency exchange, travel currency cards, and other value-added solutions.

Expressing his excitement at the launch, Adeeb Ahamed, Managing Director of LuLu Financial Holdings, said, “We are thrilled to open our second branch in Kozhikode, a key market for us. We aim to provide world-class services to our customers and expand our footprint in this growing region.”

LuLu Forex, part of LuLu Financial Holdings headquartered in Abu Dhabi, has a significant presence across major Indian cities and remains a trusted name in the foreign exchange industry.

• The new LuLu Forex engagement centres are in Salem, Nagercoil and Angamaly

LuLu Forex, one of the leading players in the currency exchange and cross-border payments sector, opened three new customer engagement centers in Salem, Angamaly, and Nagercoil on Wednesday, June 12. These new centers bring the total number of LuLu Forex branches in India to 31, further solidifying its robust pan-India presence.

The centers were inaugurated in the presence of Adeeb Ahamed, Managing Director of LuLu Financial Holdings, and senior company management. LuLu Forex remains committed to offering a wide range of financial services tailored to meet the diverse needs of its customers. The services available at the new branches include foreign currency exchange, outward remittances, travel currency cards, and other value-added services.

“The launch of these new centers underscores our commitment to bringing world-class financial services closer to our valued customers. As we continue to grow, our focus remains on delivering exceptional value to our customers, fostering trust, and driving innovation. We are excited about the opportunities that lie ahead and are committed to contributing positively to the financial ecosystem in India”, said Adeeb Ahamed, Managing Director of LuLu Financial Holdings.

“We are excited to extend our services to the Salem, Angamaly, and Nagercoil regions,” said Shibu Mohammed, Director of LuLu Forex. “Our expansion reflects our commitment to providing accessible and reliable financial solutions to a broader audience, ensuring that our customers receive the best in service and convenience.”

The inauguration of these new branches underscores LuLu Forex’s dedication to continuous growth and customer satisfaction. The company looks forward to serving the financial needs of its customers, delivering convenience, reliability, and transparency at all touchpoints.

• The new LuLu Forex engagement centres will operate 24×7, and are conveniently located in various zones of the international terminal’s arrival and departure area
• The centres were inaugurated by Mr. S Suhas IAS, Managing Director, Cochin International Airport Limited (CIAL)

In a major boost to customer convenience at Cochin International Airport, Abu Dhabi based LuLu Financial Holdings has opened four new customer engagement centres of LuLu Forex at the airport’s T3 International Terminal. The strategic expansion marks LuLu Forex’s foray into international airports, solidifying the company’s dedication to offering convenient and reliable currency exchange services.

The engagement centres were inaugurated by Mr. S Suhas IAS, Managing Director, CIAL, in the presence of Shibu Mohammed, Director, LuLu Forex, and other senior management of CIAL and LuLu Financial Holdings.

The new centres, which will operate 24×7, include two in the International Departure Check-in area, as well as one each in the International Arrival Baggage area and International Arrival General Concourse of the T3 International building, ensuring enhanced accessibility to various forex services. The openings take the tally of LuLu Forex engagement centres in India to 29, and the total number of global engagement centres under LuLu Financial Holdings to 308.

Mr. S Suhas IAS, Managing Director, CIAL said, “I extend my heartiest congratulations to the team on this momentous occasion. Today’s inauguration is a clear testament of LuLu Forex’s contribution to streamline the currency exchange process and enable greater convenience for passengers of CIAL. May this milestone be a stepping stone to further expansion and accomplishments.”

Mr. Adeeb Ahamed, Managing Director of LuLu Financial Holdings, said, “We are delighted to expand our network to the Cochin International Airport, improving access to our services for millions of travelers. Our commitment to enhancing customer experience is reflected in our strategically placed engagement centers within the International Terminal, and we look forward to delivering top-notch services with a focus on digital innovation at one of India’s busiest and fastest-growing airports.”

It was an evening to remember at the prestigious Global Fintech Awards (GFA) 2023, held annually as part of the Global Fintech Fest (GFF) 2023 in Mumbai, India. This year, the coveted global award for ‘Leading Fintech Personality of the Year’ from the Gulf Cooperation Countries (GCC) region was awarded to Adeeb Ahamed, Managing Director of the Abu Dhabi based LuLu Financial Holdings.

A visionary entrepreneur in the financial services world, Adeeb has been instrumental in revolutionizing cross-border payments between the GCC and India. His company operates a network of 300+ customer engagement centres and digital payment solutions in 10 countries across the Middle East, Asia Pacific and GCC regions.

Accepting the award, Adeeb Ahamed, said, “I am deeply honoured to receive this year’s ‘Leading Fintech Personality of the Year Award – GCC’. The GCC payments landscape is among the fastest evolving globally, and this award is a testament to the collective efforts of the LuLu Financial Holdings team to revolutionize cross-border payments. I am also immensely grateful for the regulatory support that has accelerated our progress in the region and beyond. This award isn’t just my win; it reflects the tireless efforts of those working towards a shared vision: of enhancing lives through an inclusive financial system.” Recognising outstanding accomplishments of individuals and entities in the fintech ecosystem around the globe, GFA award are given in three categories, divided into 15 subcategories.

Other winners of the night include Bhavesh Gupta, President & COO, One97 Communications Ltd., for ‘Fintech Leader of the Year’, Tom Greenwood, Founder & CEO, Volt, for ‘Leading Fintech Personality of the Year – Europe’, and Kailash Nadh, CTO, Zerodha, for ‘Fintech CTO of the Year’.

Among various enterprises that received GFA in different categories, the ‘Fintech Company of the Year’ award was given to the Open Network for Digital Commerce (ONDC). The winners were selected from a large number of nominations, through meticulous adjudication by a jury comprising 15 members, all leading captains of the fintech industry.

VK Anjana Krishna, a native of Kozhikode, can now fly to compete in the upcoming World Powerlifting Championship scheduled in Romania this August with the financial support from LuLu Financial Holdings MD, Adeeb Ahamed, whose timely intervention bolstered Anjana’s aspirations.

A five-time national champion, two-time Asian champion, strong woman of Kerala, India, and winner of Asia Titles, Anjana Krishna has qualified to participate in the World Championship in Romania. Both Anjana and her father Anil, who is also her coach, are confident in securing a medal in the championship.

However, the financial burden of the trip weighed down on their aspirations. Fortunately, LuLu Financial Holdings MD Adeeb Ahamed was apprised of the situation. Acknowledging Anjana Krishna’s impressive accomplishments at the young age of 17, Adeeb Ahamed chose to step in and provide assistance. This decision not only recognizes Anjana’s outstanding achievements but also paves the way for her to participate in the world championship.

During a ceremony held at the LuLu Forex headquarters in Kochi, LuLu Forex Director, Shibu Mohammed presented a cheque amounting to Rs. 3,50,000 to Anjana and her father Anil Kumar. P.

Adeeb Ahamed emphasized the importance of extending necessary support to accomplished sportspersons excelling in their fields. This commitment led LuLu Financial Holdings to step forward and offer financial assistance to Anjana. He also expressed his hope that Anjana would perceive this as an opportunity to achieve even greater feats in the future.

It is notable that despite facing previous financial constraints, Anjana has consistently delivered remarkable performances. Both Anjana and her father Anil conveyed their heartfelt appreciation to LuLu Financial Holdings MD Adeeb Ahamed and LuLu Forex for the timely support at this critical juncture, enabling Anjana to fulfill her dreams.

Adeeb Ahamed, Managing Director of LuLu Financial Holdings, has been appointed as the Chair of the Federation of Indian Chambers of Commerce & Industry (FICCI) Middle East Council.

Ahamed is a multifaceted entrepreneur with business interests in financial services and hospitality. His company LuLu Financial Holdings has a presence in 10 countries across the Middle east, Indian sub-continent and Asia-Pacific regions, with investments in India including the NBFC LuLu Finserv and cross-border payments company LuLu Forex spread across 40 cities, apart from luxury hospitality assets.

Ahamed has been engaged with industry bodies in India for several years and is a known face for his steadfast support in furthering the relationship between GCC countries and India. His expertise in various domains and vehement support for the startup ecosystem are well documented among the business community.

In his new role as Chair, Ahamed participated in the 6th meeting of the FICCI Middle East Council held in New Delhi on Wednesday. During the meeting, council members, including Shailesh Pathak, Secretary General of FICCI, Goutam Ghosh, Senior Director & Regional Head, Africa, Middle East, South Asia, and Deepti Pant, Joint Director and Head, Africa, Middle East, and South Asia, discussed the growing investment opportunities for businesses in both regions. They also touched upon key initiatives planned for the upcoming year and identified country-wise ambassadors from the business community.

Delegation from Sharjah Chamber of Commerce and Industry welcomed

The summit welcomed a special delegation from the Sharjah Chamber of Commerce and Industry, headed by its Chairman, HE Abdallah Sultan Al Owais. Additionally, there was an interactive session featuring HE Satish Sivan, Joint Secretary of Development Partnership at the Ministry of External Affairs, and the Indian Consul General Designate to Dubai. Furthermore, a presentation was conducted to highlight the opportunities in Oman’s Oil & Gas sector.

As per data from the Indian Ministry of Commerce and Industry, bilateral trade between India and the GCC countries has achieved new heights in recent times, surpassing the $150 billion mark. The GCC countries have emerged as a key destination for Indian exports, absorbing more than 10 per cent of India’s total exports. Additionally, India’s imports from the GCC account for over 18 per cent of the total import volume.

Established to promote trade and investment between India and the various GCC countries, the FICCI Middle East Council has emerged as a meaningful platform for discussions aimed at enhancing trade, fostering investment, and promoting cultural exchange.

In the last 12 months, the Council has held several events and discussions in association with government representatives and business chambers from UAE, Saudi Arabia, Oman and Bahrain to explore mutual synergies in diverse sectors.

Kochi based LuLu Forex Pvt. Ltd., along with Jyothy Laboratories and Malayala Manorama have been awarded the annual Best TDS Compliance Company in Kerala Award under the non-government segment, instituted by the Office of The Commissioner of Income Tax Department (TDS), Kochi.
Under the government segment, the award was given to City Police Office, Kochi, LSGD Division Jilla Panchayat, Kollam and Post Master, Chalakudy.
The recognition follows a rigorous assessment criteria based on timely filling of TDS / TCS contribution, as well as ensuring due diligence and high standards of compliance as per the TDS/TCS norms.
The winners received the coveted award during the TDS Excellence Award 2022 gala event held on Wednesday, 28th September 2022, at Hotel Abad Plaza in the presence of R Ravichandran, IRS – Principal Chief Commissioner of Income Tax, Kerala, V Roy Jose, IRS – Commissioner of Income Tax (TDS), Kochi, Manjit Singh, IRS – Commissioner of Income Tax (Admn.) Kochi, C. Nagaraju, IPS, Commissioner of Police, Kochi City,  Jyothis Mohan, IRS – Joint Commissioner of Income Tax (TDS) Kochi, film actor Tovino Thomas and other dignitaries.

Abu Dhabi-based LuLu Financial Holdings (LFH), a global leader in the financial services industry,
opened yesterday its 250th global branch in Dubai’s Silicon Central Mall.
The numbers speak volumes about the company’s ambitious rise: 13 years, 250 branches, and 10
countries. The milestone branch, which adds to the company’s growing network across the UAE and
nine other nations, was inaugurated by Dr Aman Puri, consul general of India, in the presence of the
holding company’s managing director, Adeeb Ahamed, and other senior management.
Ahamed said: “Today’s opening is a celebration of the amazing journey we have had as a team, and
the many opportunities we have converted to emerge as a trusted brand. As one of the leading
players in the financial services sector, not just in the UAE but also in our other markets, we have
been credited for being attuned to the sector’s needs.
“Our efforts to bridge the gap between our consumers and our various physical and digital
touchpoints are a key part of our growth story, and the 250th branch is a mark of our determination
and perseverance to disrupt the global payments ecosystem.”
The opening of the milestone branch was followed by two more branch openings on the same day at
Al Majaz and Maaza regions of Sharjah in the UAE.
An ISO: 9001 certified conglomerate, Abu Dhabi-based LuLu Financial Holdings has various
investments in financial services, including remittances, foreign currency exchange, structured
finance for MSMEs, and microfinance for retail consumers in India. Cumulatively, it processes annual
transactions of over $11bn, serving over 15mn customers across various regions.