September 06, 2021 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, marked a new milestone with the opening of its 200th branch in the UAE. The latest branch, located in Sahara Center new extension, is the second branch of the company in this center and one of the eight branches inaugurated across the country this year with another 25 branches planned for opening before the end of next year, in preparation for the post pandemic expected business uptake.
The new branches are a testament to Al Ansari Exchange's commitment to continuously enhance the customer's experience whether in physical branches or through online platforms. It highlights the company's strength and leadership in meeting its customers' needs and will provide new job opportunities during the current challenging market conditions. The opening ceremony was by Al Ansari Exchange's Chairman, Mohamed A. Al Ansari, Rashed A. Al Ansari the CEO, senior members of the management team and Akram Ammar, Managing Director of Sahara Center.
Mohamed A. Al Ansari, Chairman of Al Ansari Exchange, said: “Expanding our branches is a key component of the company's growth strategy and we are proud to have reached 200 branches across the UAE. We are constantly evaluating our footprint and branch portfolio to ensure that we are expanding where our customers need us to be. The opening of our newest branch, which will strategically serve a diverse group of residents and business segments in the area, reflects our success in overcoming the emerging global challenges. It reinforces our full readiness to enter a new phase of growth in the upcoming years. The growth and expansion of our network will allow us to offer a wide variety of employment opportunities for qualified UAE nationals and residents. All our branches fully complement our state-of-the-art technological solutions available on the Al Ansari Exchange Mobile App and other digital platforms.”
Accounting for over 36% of the local market share among other exchange companies, Al Ansari Exchange currently conducts more than 120,000 transactions per day and caters to the needs of more than 3 million customers monthly. The Al Ansari Exchange Mobile app was rated first in the UAE and second in the Middle East Region on the Forbes Middle East list of the Top 15 Fintech Apps 2021 recently, highlighting the fact that the mobile application executed about 1.8 million transactions worth around $1.5 billion in 2020. As of August 2021, the app had recorded over 941,000 downloads with more than 850,000 active users.