The UAE is a prime global destination and a top choice for people in terms of residence, travel, business, and investment, and in order to accommodate the growing demand, Al Ansari Financial Services has made an announcement that its flagship subsidiary, Al Ansari Exchange, has opened its 250th branch at Burjuman Metro Station, Dubai.

Following the inauguration of 19 new branches nationwide in 2023, the leading integrated financial services group has set an ambitious target to expand its branch network to 300 locations in the next two years, subject to obtaining necessary regulatory approvals, as stated in a press release.

Al Ansari Exchange, which raised Dh773 million from its IPO in April this year, emphasizes that this ongoing expansion aligns with the UAE’s increasing prominence as a global hub for remittances and financial transactions. The UAE is among the top global hubs for remittances, with the value of money transferred to other countries hitting $45 billion in 2021. Furthermore, the UAE leads in the digital remittances segment, as the transaction value market is projected to reach $6.95 billion in 2023.

Rashed A. Al Ansari, group CEO of Al Ansari Financial Services, underscored the commitment of the exchange to strengthening its presence in all seven Emirates through the current expansion initiatives, aiming to generate increased value for shareholders and extend the reach of services, aligning seamlessly with the expanding national economy.

Ali Al Najjar, chief operating officer at Al Ansari Exchange, the largest outward personal remittance and foreign exchange company in the UAE, also emphasized that parallel to the expansion of its branch network, the exchange is enhancing its digital channels to provide an omnichannel experience for customers and solidify its market share and primary position within the remittance and foreign exchange industry in the UAE.

With 95 per cent of the group’s branches currently profitable, the group also aims to empower customers by offering a broad spectrum of financial solutions and services at competitive prices, underpinned by the highest standards of quality and reliability.