Argentex expands UAE presence with new Dubai Subsidiary

By Gloria Methri

Currency Management Services provider Argentex has launched Argentex (DIFC) Ltd, a fully licensed subsidiary regulated by the Dubai Financial Services Authority (DFSA). Led by UAE Managing Director Jamil Khammu, an experienced team in Dubai will serve corporate and institutional clients across the DIFC and broader UAE market.

Argentex said in a release that the strategic move underscores its long-term commitment to the region, strengthens its global footprint, and reinforces its burgeoning product capabilities.

Argentex (DIFC) Ltd is fully regulated under a Category 3A DFSA license, enabling the team to offer comprehensive FX and payment services, like those provided by its parent company in other key financial hubs.

Argentex offers currency management, foreign exchange (FX) execution, and alternative transaction banking. It also provides multi-currency accounts, real-time balances and statements, and access from any device.

Founded in 2011, Argentex has transacted more than $200 billion for its clients since 2012, making payments in up to 140 currencies on their behalf.

Speaking on the company’s expansion, Jim Ormonde, Chief Executive Officer at Argentex Group PLC, said, “We are thrilled for Jamil and the team – another significant step forward in our global growth strategy with regulatory and operational hubs now fully established in London, BV (Netherlands), Australia and Dubai. Our Middle East subsidiary shows our dedication to providing best-in-class FX and payment services at both a global and local level, enabling us to offer expert support to new and existing clients in this important region.”

Jamil Khammu, Senior Executive Officer and Managing Director at Argentex (DIFC) Ltd, said, “The opening of our subsidiary in Dubai is a huge achievement for the company as we enact our expansion plans in the region. We are excited to now offer our exemplary services to a whole new breadth of businesses in the UAE markets and wider region. I very much look forward to working with the talented Argentex (DIFC) Ltd team as we continue to grow.”