Al Ansari Exchange undergoes a comprehensive restructuring

By Leandra Monteiro

Al Ansari Exchange announced that its parent has undergone a comprehensive restructuring and has been renamed to Al Ansari Financial Services or the ‘Group’. This restructuring creates a robust platform enabling Al Ansari Exchange and its sister companies to realise multiple synergies and further unlock their growth potential.

Through its wholly-owned subsidiaries, the Group has created a specialised ecosystem that enables the mobility of money swiftly, seamlessly and securely within the UAE and to more than 200 countries and territories.

Through its subsidiaries, the Group provides a wide range of financial services to individuals, including tourists and residents. It is also increasing its foothold in the scalable corporate segment, providing wage protection system solutions, cross-border payment services as well as end-to-end cash management and bill collection solutions within the UAE.

As part of the restructuring, the chief executive officer of Al Ansari Exchange, Rashed Al Ansari, has been appointed CEO of the Group.

Rashed A. Al Ansari, CEO of Al Ansari Financial Services, said, “As our business continues to scale and evolve, Al Ansari Financial Services will provide a strong platform enabling the realisation of multiple synergies across our complementary and vertically integrated portfolio. This will enable us to unlock greater potential in enabling the mobility of money, locally and globally.

While Al Ansari Exchange is the widely recognised and the largest company in our portfolio, the other businesses provide innovative and integrated solutions to better serve our increasingly diverse customer base, including corporates. Together with the rest of the management team, I look forward to taking the Group to new heights and continuing to build on more than five decades of success.”