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UAE Exchange remittances top $25 billion


UAE Exchange… handling 7.9 million customers worldwide

UAE Exchange remittances top $25 billion

DUBAI, 1 days ago

UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, said it handled $25.4 billion in remittances in 2013 and has a share of 6.1 per cent of the global remittance volume.

Celebrating the brand’s 34th anniversary, UAE Exchange said in a statement that, it currently handles 7.9 million customers.

UAE Exchange opened its first branch in Abu Dhabi on October 23, 1980 and its operations have grown exponentially over the years and now it has 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,” he noted.

“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,” Shetty continued.

“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,” he concluded.

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, the statement said. – TradeArabia News Service

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