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Remitting to Pakistan with trust

LuLu International Exchange is the growing remittance and foreign exchange brand trusted by millions to send their hard-earned money to their loved ones

Remittances to Pakistan have witnessed a steady growth these past few years. In 2015, overseas residents were able to send home over $18.4 billion, which is 16.6 per cent higher than the same period in 2014. This is a $2.6 billion rise in remittances in 2015 year-on-year, one of the highest in nearly 20 years.
The overall share of remittances from the GCC countries to Pakistan stands at nearly 65 per cent of the total amount received by the country and is only set to increase in the coming years. Remittances from Saudi Arabia in 2014-15 stood at over $5.6 billion followed by the UAE ($4.2 billion), Kuwait ($748.1 million), Oman ($666.8 million), Bahrain ($389 million) and Qatar ($347.5 million). Remittances from Saudi Arabia increased by 19 per cent compared to last year and the UAE saw an increase of 35 per cent year-on-year. The remaining GCC market's growth in 2015 has been pegged at 16 per cent compared to the previous year.
One of the reasons for this massive improvement in the inflow of remittances has been the launch of the Pakistan Remittance Initiative (PRI) in 2009. The improvement in the banking system, rules and regulations have also assisted in the flow of remittances from the GCC to Pakistan. The weak rupee and robust economic activity in the GCC has also driven expat remittances to the country.
With massive infrastructure projects and other developments in the pipeline, the economic prospects of the GCC countries are brighter than ever. This translates into job growth and more opportunities for expats to come and work in the region.
LuLu International Exchange, one of the most prominent exchange houses with a presence across the UAE, Oman, Bahrain, Kuwait and Qatar in the GCC, has a special relationship with expat Pakistanis and acts as the channel for them to send money to their loved ones back home.
LuLu International Exchange has strategic banking arrangements with leading banks in Pakistan such as Bank of Punjab, Bank Al Habib, Allied Bank and UBL, amongst many others, to serve its customers better. The money exchange major has also tied up with Western Union, a leading money service product, to cater to the needs of Pakistani customers.
Riding on the USP of 'Valuing Your Trust', LuLu International Exchange has always been in the forefront to cater the best available facilities to its customers. In a bid to safeguard the best interest of its regulators and customers, LuLu International Exchange has also intensified the implementation of rigorous compliance in line with global anti-money laundering protocols and ensured fair business practices.
Adeeb Ahamed, CEO, LuLu International Exchange said, "An increase in inward remittances to a country is always good news for its development. Pakistan is one of our most important corridors and we have seen good growth in remittances to the country these past few years. The trend is quite encouraging this year as well. LuLu International exchange is well-known for its strong customer focus as well as its value-laden services. We strive to provide safe, reliable and quick options for our customers to send money to their loved ones beyond borders.
"LuLu International Exchange is now an established brand, which benefits people from different communities and cultures around the world. It has now risen as a brand that can always be trusted to take care of their money transfer and currency exchange needs in the most efficient and affordable manner."
LuLu International Exchange salutes the nation and wishes the people of Pakistan a very happy Independence Day.