Media Release
• Handles an annual remittance volume of US$ 25.4 Billion globally with a 6.1 per cent share in remittance flows.
• Customer base expands to 7.9 million and branch network expands to over 725 making it the largest networked remittance brand
Abu Dhabi, Nov 3 : UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, said, it currently handles 7.9 million customers. Celebrating the brand’s 34th anniversary in October, UAE Exchange said in a statement that it handled USD 25.4 Billion in remittances in 2013 and has a share of 6.1 per cent of the global remittance volume.
UAE Exchange opened its first branch in Abu Dhabi on October 23, 1980 and its operations have grown exponentially over the years and now have footprints across 32 countries serviced through over 725 branches.
Y. Sudhir Kumar Shetty, COO – Global Operations, UAE Exchange, said, “Over the last 34 years of our operations, we have crossed significant growth milestones across our global operations. UAE Exchange has been able to achieve such exponential growth rates because of the trust it has built among various Diasporas making the remittance brand the most preferred money transferor across the world. Our growth has remained on a buoyant trajectory over the years and this achievement has come with the continuous support and patronage of regulators and partners. Trust, transparency and innovation with a relentless focus on quality have been the drivers of our growth.”
Shetty said, “As a brand UAE Exchange has made a predominant presence in both send and receive markets and has forayed into newer markets in line with the changing demographic profile of migrant labour in the world.
“UAE Exchange has grown with the economies across geographies and particularly in the GCC which is the brand’s home market. For instance, in the UAE alone the rapid economic growth has continued to create a plethora of opportunities for migrant labour stock forcing remittance companies to expand and innovate their offerings,” Mr. Shetty said.
In line with the growth demand, UAE Exchange has increased its presence and manpower, employing over 9,000 professionals representing over 40 nationalities across its operations. It has pioneered technological innovations in remittance such as FLASHremit, an instant bank transfer service; Money2anywhere.com, online money transfer portal and a leading payroll solution Smart Pay, apart from gocash, a multi-currency prepaid travel card and self-operated multi-activity kiosks, MyBranch.`
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