The UAE's Al Ansari Exchange and Al Ansari Exchange Services have recently been merged completely after obtaining the necessary approvals from all official entities. 

 

The merged Al Ansari Exchange Company now forms the largest exchange and remittance house in the UAE with an operating capital of Dh1.2 billion, a statement said.

 

It has a market share of over 35 percent locally and provides its services through more than 175 branches and executes more than 80,000 transactions per day, it said.

 

Mohammed Ali Al Ansari, chairman and Managing Director, Al Ansari Exchange, said: “We are confident that the recent merger will be a major boost for Al Ansari Exchange to continue excellence and enhance customer services and focus on infrastructure development and operational efficiency in the coming period, in line with our strategic plan to open more than 25 new branches in the coming 2 years.” - TradeArabia News Service