“Bahrain’s attractive investment climate and prospects of growth have encouraged us to launch a network of 10 Exchanges across the Kingdom,” Yusuffali MA, Chairman of Lulu International Exchange and Managing Director of Lulu Group on the sidelines of the opening of the first LuLu International Exchange, told reporters.
Rasheed Mohammed Al Maraj, the Governor of Central Bank of Bahrain inaugurated the operations at LuLu Hypermarket at Hidd. The company is a joint venture between AKA SPC, Bahrain and LuLu International Exchange LLC, UAE, a fast growing remittance and foreign exchange company.
“The network of ten foreign exchanges will create hundreds of jobs opportunities for Bahrainis. We remain committed to the Kingdom of Bahrain as we will also add three more Lulu Hypermarkets in Bahrain, raising the bar of quality shopping to new heights,” Yusufali, added.
“The foreign exchanges will complement the Lulu Hypermarkets business in Bahrain in addition to bolstering the tourism business in Bahrain,” he said
“At present three Lulu Hyper Markets engaged over 750 employees in different areas and three additional markets will further contribute towards the development of the national economy,” he added.
“It has always been our endevour to deliver the very best in service and quality to our valued customers in whatever we do. The same applies for Lulu International Exchange also. In a short span of time we have opened 65 branches and rep office not only in this region but across the Indian sub continent, Far East and Africa. Even though we might be a relatively new player in this sector, the brand equity of LuLu has helped us gain trust and acceptability faster and our convenient locations make us the most hassle free destination for our large and loyal patrons.”
“We are pleased to announce the launch of our Bahrain Operations with the inauguration of this branch. This branch is dedicated to the service of our esteemed customers, who have always supported and encouraged us to deliver the best. LuLu Exchange has been successful in tirelessly delivering the best of service excellence to its customers earning their complete satisfaction and trust in the bargain. Bringing convenience to customers has always been a priority to us and it is this approach that has made us a favourite of customers and has helped us grow in a fast pace,” Adeeb Ahamed, CEO of LuLu International Exchange said.
“We are grateful to the Central Bank of Bahrain for the excellent support extended towards to us to launch our operations in the Kingdom and the wise leadership of the Kingdom of Bahrain for welcoming new business opportunities in the Kingdom. Three more branches will be opened in the Kingdom by the end of this year. LuLu Exchange provides our customers with a one stop shop for all their remittance and forex requirements. Our company has ensured fair business practises including rigorous compliance to global anti-money laundering protocols, in the best interest of its regulators and customers”, he added.
The Indian Ambassador Mohan Kumar lauded the efforts of the Lulu Group to continuously seizing investment opportunities. “I am happy to see the expansion of business which is good news for investors and for India as well as for Bahrain,” Ambassador Mohan Kumar added.