Galadari Brothers, a prominent UAE-based conglomerate, has formed a strategic alliance with myZoi, a company supported by SC Ventures, with the goal of enhancing financial inclusion, financial literacy, and digital innovation for its employees who are underbanked. The partnership was officially launched at a signing ceremony held at the Galadari Brothers’ headquarters. The agreement was inked 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 common issues faced by employees, such as high remittance fees, lack of personalized services, and opacity in processes and pricing, are set to be addressed through this collaboration. By combining Galadari Brothers’ extensive market knowledge with myZoi’s inclusive digital solutions, significant advantages are anticipated for Galadari’s workforce. Employees will now have the option to receive their salaries via the myZoi wallet, transfer funds to their home countries at favorable rates, and gain insights on saving strategies. This partnership highlights the commitment of both entities to enhancing the welfare of the underserved, thereby contributing to the UAE’s economic expansion, improving the digital environment, and integrating more individuals into the formal financial services sector. This significant partnership demonstrates how companies can unite to promote innovation and deliver exceptional value to their clientele.
Text: Lara Palmer
01.08.2024
Strategic alliance aims to boost financial literacy and digital innovation for underbanked employees