fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Markets Forex

LuLu Financial Services Phils receives grant to trade physical foreign currency banknotes in 2021

LuLu Financial Services Phils will allow the creation of profits to the Philippine economy through the central bank grant

Sakshi K S by Sakshi K S
October 8, 2021
in Forex, Central, Currencies, Logistics, The Global Economics, Top Stories
Reading Time: 2 mins read
0
LuLu Financial Services Phils receives grant to trade physical foreign currency banknotes in 2021

LuLu Financial Services Phils receives grant to trade physical foreign currency banknotes in 2021

619
SHARES
3.4k
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

LuLu Financial Services Phils, one of the proficient financial services providers in the Philippines, has received approval from the Bangko Sentral Ng Pilipinas (BSP) and the Bureau of Customs to facilitate inter-border physical transfers of foreign currencies in the country.

LuLu Financial Services Phils receives grant to trade foreign currency banknotes

This grant is an upgrade to LuLu Financial Services’ prevalent license which allows the firm to ship banknotes to countries abroad. The countries targeted by the firm reside in the APAC region, the Indian subcontinent, and the Arab sphere (GCC).

LuLu Financial Services is chiefly owned by LuLu Financial Holdings (based in Abu Dhabi) and began operations in the Philippines in 2015. The firm has ever since bloomed into one of the most reliable services providers in the APAC region.

Managing Director of LuLu Financial Holdings, Mr. Adeeb Ahamed, stated that the Asia Pacific region is a hotspot of global financial services. He said that the import-export license gives the firm opportunities to perform more proactively in the wholesale banknotes sector. All this while keeping the Philippines as the regional hub in APAC.

Speaking about the development, Mr. Ahamed stated that LuLu Financial Holdings is backed by a widespread presence in 11 nations. He confidently indicated that the LuLu Financial Services Phils will allow the creation of meaningful profits to the economy of the Philippines. LuLu Financial Services Phils will also be the key contributor to significant domains of the financial services environment, to emerge as a principal player in the sector.

By delivering a plethora of digital products and services, inclusive of forex, monetary transfers, e-wallet, and other services, the new-fangled license allows the company to join the many exclusive financial service providers in the Philippines. LuLu Financial Services Phils will now be able to trade in the physical import-export of foreign currency banknotes.

General Manager of the LuLu Financial Services Phils, Mr. Sunil Kumar, stated that with the central bank grant, the firm was going through a breakthrough seeing that it was the sole non-bank financial institution allowed to participate in the import-export of foreign currencies. Money Services Businesses, banks, and forex dealers have supported this development and the firm continues to remain committed in its mission to provide the best standards of service to its global and inland partners, Kumar said.

LuLu Financial Services Phils holds branches at numerous strategic regions in the Philippines and is now set to spread its digital and physical presence in the coming few weeks. The firm will open new branches with the introduction of new tweaks associated with the LuLu Money Application, an e-wallet offered by the financial institution.

Via: Short URL
Tags: Bangko Sentral ng PilipinasBureau of CustomsLuLu Financial HoldingsLuLu Financial Services Phils
Sakshi K S

Sakshi K S

Sakshi is a professional content writer engaging readers with gripping business news stories.

Related Posts

Lebanon currency devaluation
Economy

Lebanon to Devalue Its Currency By 90%

by Anuj Singh
February 1, 2023
A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit
Ultility

A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

by Riya Thomas
February 1, 2023
investment
The Global Economics

Adani Enterprises To Get $400 mn From Abu Dhabi’s IHC

by Marifur Rahman
January 31, 2023
Oil storage tank
Islamic

Saudi Arabia Lowers Crude Prices For Asia, Not For the US

by Anuj Singh
January 31, 2023
Adani Group shares plunged, resulting in the erasure of $72 billion after three-day selloffs
Funds

72 Billion Wiped Out: Adani Group Shares Plunge After Three-Day Selloffs

by Riya Thomas
January 30, 2023
Facebook Twitter Instagram Youtube LinkedIn Soundcloud
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Lebanon currency devaluation

Lebanon to Devalue Its Currency By 90%

February 1, 2023
A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

February 1, 2023
China To Boost Oil Demand By Up To 500,000 BPD PC: Reuters

Oil Cools Off on a Weak Dollar

February 1, 2023
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles, delivered right into your email inbox.

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version