Lulu Exchange and Bank Alfalah enter into a strategic partnership to accelerate and scale up cross-border remittance payments from the UAE to Pakistan via the RippleNet platform.
Source: Gulf News
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The integration of payments by Bank Alfalah with RippleNet and its launch with Lulu International Exchange is the first-ever arrangement in the world and will benefit the Pakistani diaspora in the UAE.
The FinTech program by Bank Alfalah will act as a pilot for group rollout with concerns of Lulu Exchange in Bahrain, Oman, Kuwait, Qatar, Singapore, and Malaysia.
Atif Bajwa, President, and CEO, Bank Alfalah, stated that the bank will continue to implement advanced infrastructures to improve access to banking services for all customers in Pakistan and abroad.
Bajwa further stated that the partnership with RippleNet will expand partnership with Lulu Exchange and improve financial bridges between Pakistanis in the UAE and their families at home.
Bank Alfalah and RippleNet partnership will promote new opportunities by strengthening the payment ecosystem from the UAE to Pakistan.