Galadari Brothers and myZoi sign pact to form new venture

Partnership to drive financial inclusion and financial literacy for the underbanked

A Staff Reporter

Published: Thu 1 Aug 2024, 4:21 PM

Galadari Brothers, a UAE-based leading conglomerate, has entered into a strategic partnership with myZoi, a portfolio company backed by SC Ventures, which aims to advance financial inclusion, financial literacy, and digital innovation for its underbanked employees.

The signing ceremony, held at the Galadari Brothers’ office, marked the official commencement of this partnership. The document was signed by Mohammed Galadari, Co-Chairman and Group CEO of Galadari Brothers, Rola Abu Manneh, CEO of Standard Chartered UAE, Middle East, and Pakistan; R V Ramanan, Group CFO of Galadari Brothers and Syed Muhammad Ali, CEO of myZoi.

The challenges employees face currently are typically high remittance fees, lack of personalised offering and often lack of transparency around process and pricing.

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Galadari and myZoi officials at the signing ceremony.

This collaboration brings together Galadari Brothers’ extensive market expertise and myZoi’s inclusive digital solutions, promising to deliver significant benefits to Galadari’s employees. With myZoi, Galadari’s employees will be able to receive their salaries into the myZoi wallet, make transfers to their home countries at competitive rates, and stay informed on how to save more. The partnership underscores both organisations’ commitment to improving wellbeing of the underserved, thus driving UAE’s economic growth, enhancing the digital landscape, and bringing more people into the formal financial services ecosystem.

This landmark deal truly exemplifies how organisations can come together to foster innovation and provide unparalleled value to their customers.

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