Collaboration will combine business accounts and Mastercard solutions with wider financial capabilities, laying the foundation for a more comprehensive SME financial services proposition. (text to go along with signing ceremony picture)
Abu Dhabi, UAE – 7 October 2026: LuLu Money Business, the SME-focused financial services platform of LuLu Financial Holdings, has signed a Memorandum of Understanding (MoU) with Mastercard to build a more connected financial ecosystem for small and medium enterprises (SMEs) in the UAE.The MoU was signed at Investopia Bridge in Abu Dhabi, in the presence of H.E. Abdulla Bin Touq Al Marri, UAE Minister of Economy & Tourism, and H.E. Mohamed Hassan Alsuwaidi, UAE Minister of Investment, alongside Adeeb Ahamed, Managing Director, LuLu Financial Holdings, and Mete Guney, Executive Vice President, Market Development, EEMEA, Mastercard.
LuLu Money Business draws on LuLu Financial Holdings’ 17-year presence in the UAE and its established financial services capabilities to address the evolving needs of SMEs.
Small business decision-makers across the UAE remain optimistic about the future, with 74% expressing confidence in their business outlook over the next 12 months, according to the Mastercard SME Confidence Index 2026. As SMEs become increasingly digital and their financial requirements evolve, there is a growing opportunity to connect more of their financial journey, from payments and expense management to cash flow and wider business needs.
This collaboration establishes a foundation for LuLu Money Business to progressively broaden its proposition, supporting SMEs not only in how they pay and transact today, but in how they operate and grow tomorrow. At the heart of the proposition will be LuLu Money Business accounts issued by Ruya, an Islamic bank licensed by the Central Bank of the UAE, complemented by Mastercard’s card solutions and a growing range of financial and value-added services. Beyond payment solutions, the collaboration will extend Mastercard’s advisory and consulting expertise to LuLu Money Business’s SME clients.
Adeeb Ahamed, Managing Director, LuLu Financial Holdings, said:
“SMEs are the backbone of economies, driving innovation, employment and resilience. Our ambition is to make LuLu Money Business a one-stop financial solution for SMEs, bringing together the services they need to transact, manage and grow their businesses. This collaboration with Mastercard is an important step in that journey, as we build a proposition that can evolve with SMEs and support their ambitions at every stage of their growth.”
Mete Guney, Executive Vice President, Market Development, EEMEA, Mastercard, said: “SMEs are central to the UAE’s growth, and their needs are evolving as the economy becomes more digital. Through this collaboration, we’re expanding access to the payments and financial services SMEs need to grow and thrive. This reflects Mastercard’s global commitment to connect and protect 500 million people and small businesses on their pathways to financial health by 2030.”
Christoph Koster, Chief Executive Officer, ruya, said:
“The future of SME financial services will be shaped by how effectively we bring together banking infrastructure, technology and distribution around the needs of businesses. As a community bank, our role at ruya is to provide the regulated, Shariah-compliant banking foundation that enables propositions such as LuLu Money Business to scale with confidence. By combining our capabilities with LuLu Financial Holdings’ reach and deep understanding of the UAE SME market, alongside Mastercard’s global payments expertise, we can create a more connected financial experience that gives SMEs the tools and flexibility they need to grow.”
The collaboration comes at an important juncture for the UAE’s SME sector, as digital transformation reshapes how businesses manage their finances and plan for growth. By connecting payments more closely with a broader range of financial capabilities, LuLu Money Business aims to help SMEs unlock their potential while contributing to the UAE’s wider ambitions for economic diversification, innovation and entrepreneurship.
About LuLu Money Business
LuLu Money Business is a comprehensive financial services platform designed to simplify how businesses manage their everyday financial needs. The platform brings together business accounts, local and international payments, WPS payroll solutions, and corporate debit and payroll cards in one integrated offering, enabling businesses to manage their financial operations with greater simplicity, transparency and control. LuLu Money Business is the trading name of LuLu International Exchange L.L.C., part of LuLu Financial Holdings, a diversified financial services conglomerate with operations across 10 countries spanning the GCC, India and Asia-Pacific.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
