The UAE’s digital-first Islamic community bank ruya has announced a strategic partnership with LuLu Exchange, one of the UAE’s leading financial services companies.
The collaboration allows ruya customers to deposit cash directly and instantly into their ruya accounts at any of the 140 LuLu Exchange customer engagement centres across the UAE, free of charge.
In a statement, the Ajman-based ruya said it 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.”
“We are delighted to collaborate with ruya, a forward-thinking digital-first Islamic bank. This partnership broadens our service portfolio and reaffirms our dedication to innovative financial solutions that benefit the community,” Thampi Sudarsanan, CEO of LuLu Exchange UAE, said.