LuLu Exchange Partners with Huru to Strengthen Financial Inclusion across the UAE

Abu Dhabi, UAE: In line with its commitment to strengthening financial empowerment and digital access
for the workers across the UAE, LuLu Exchange has entered into a strategic partnership with Huru, a
Central Bank of the UAE (CBUAE) licensed fintech company with SVF and RPSCS licenses. This
collaboration introduces a first-of-its-kind zero-balance IBAN account solution for unbanked and
underbanked communities delivered through Huru’s digital platform and supported by LuLu Exchange’s
trusted remittance infrastructure.

With 140+ branches and over 1 million customers, LuLu Exchange has long been a leading enabler of
secure salary payments, money transfers and payroll solutions including Wages Protection System
(WPS) services for the UAE workforce and employers. Through this partnership, employees who
previously relied on traditional salary cards will now gain access to a full IBAN-linked account enabling
direct WPS-compliant salary deposits through UAEFTS and giving employees greater control over their
personal finances.

The IBAN account is paired with a Huru ATM card offering one free withdrawal per month from any ATM
in the UAE, a significant cost advantage over conventional payroll cards. Customers are digitally
onboarded through secure eKYC, ensuring fast and compliant access to financial services. A key
component of the partnership is the integration of LuLu Exchange’s remittance services and WPS-
enabled salary solutions within the Huru app, enabling users to send money home directly from their
account, combining everyday finances and international remittances into a single platform.

Customers will soon have access to Quick Cash , an instant microfinance solution built in the Huru app.
Once launched, Quick Cash will offer up to AED 10,000 in short-term financing, with convenient monthly
repayments and low, transparent mark-up fees.

“LuLu Exchange is proud to partner with Huru in their mission of financial empowerment,” said Thampi
Sudarsanan, CEO of LuLu Exchange UAE. “Our extensive network, expertise in remittances and WPS
salary processing uniquely position us to support Huru’s vision. This collaboration not only expands
access to reliable financial services but also creates meaningful value for individuals who need simple,
secure and affordable solutions.

“This partnership marks a significant milestone in our journey to empower the unbanked and
underbanked population across the UAE,” said Abhimanyu Girotra, CEO of Huru. “By working with LuLu
Exchange, we’re delivering essential financial tools—such as IBAN linked accounts and ATM cards—that
are critical to everyday life but often out of reach for many. Together, we are strengthening the
foundations of financial inclusion in the UAE.”

For LuLu Exchange, this collaboration strengthens its strategy of partnering with innovative fintechs to
expand service delivery, unlock digital convenience and uplift the financial wellbeing of workers across
the region. For Huru it underscores the commitment to building a tech-enabled financial platform
designed around the needs of underserved communities.

About LuLu Exchange:

LuLu Exchange is one of the UAE’s leading financial services companies, providing
remittances, foreign currency exchange and other allied services through a network of over 140
branches and digital solutions, including the LuLu Money App, to a cross-section of society, powered by
a robust network and reputed partners with high standards of customer care. The company is part of
the Abu Dhabi-based financial services conglomerate LuLu Financial Holdings.
https://luluexchange.com/

About Huru:

Huru is a homegrown UAE fintech company licensed by the Central Bank of the UAE. Founded in 2022,
Huru serves as a one-stop money management app for the country’s unbanked and underbanked
communities. The platform provides innovative features such as instant zero-balance IBAN accounts, a
free digital and physical Visa ATM card, in-app remittances, bill payments, and saving tools that enable
users to retain and grow more of their earnings. Now expanding into tailored credit products, Huru is
committed to building transparent, accessible, and impactful financial solutions for those who form the
backbone of the UAE’s workforce.
For more information, please visit
https://www.huru.co/