• Former National Bank of Abu Dhabi CEO, Michael Tomalin, appointed Co-Chairman alongside Founder of Finablr, Dr B.R. Shetty

London, UK; 9th April, 2019: Finablr, a global platform for payments and foreign exchange solutions, today announced the reconstitution of its Board of Directors. The Board encompasses leading industry experts with a wealth of experience across the financial services industry and a deep understanding of Finablr’s international markets.

The Board comprises: Dr Bavaguthu Raghuram Shetty as Founder and Co-Chairman; Michael Tomalin as Co-Chairman and Independent Non-Executive Director; Robert Douglas Dowie and Julian Wynter as Independent Non-Executive Director, Abdulrahman Basaddiq as Non-Executive Directors; Binay Shetty as Executive Director; and Promoth Manghat as Group Chief Executive Officer and Executive Director.

Commenting on Finablr’s Board, Dr Shetty said: “We are very pleased to have attracted highly qualified and experienced individuals to Finablr’s Board. We ran a rigorous process to find the best candidates to ensure that we have the right expertise to guide Finablr through its next phase of growth. I look forward to working with the Board to support Finablr’s strategic objectives. We will continue to strengthen our Board with similarly eminent professionals when the right opportunities arise.”

Michael Tomalin, the newly appointed Co-Chairman of Finablr, added: “Through its technological prowess and extensive global distribution network, Finablr has demonstrated consistent growth for over four decades. With a deep understanding of the payments industry, an exceptional management team and a clearly defined growth strategy, the Group is well-positioned to create long-term value for its stakeholders. I am excited to join the Board and look forward to working with Dr. Shetty and his team.”

Promoth Manghat, Group Chief Executive Officer of Finablr, added: “We are very fortunate to have such distinguished and eminent professionals on our Board. Our success is greatly owed to the foresight and leadership of Dr. Shetty whose contributions have been pivotal in driving our growth and expansion. I am confident that the collective experience and industry expertise of the Board will further benefit Finablr as we pursue our growth strategy. “

Finablr’s brands, which include UAE Exchange, Travelex, Xpress Money, Unimoni, Remit2India, Ditto and Swych, processed more than 150 million transactions, totalling c.$115 billion in volumes, for its customers in 2018. Driven by a strong, entrepreneurial management team with extensive industry expertise, the Group aims to continue expanding and growing its market share across business segments.

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