History

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Al Ansari Exchange, a leading exchange company in the UAE with the largest branch network, started as an offshoot of a flourishing general trading business by the Al Ansari family almost 60 years ago. Al Ansari Exchange was established primarily to meet the foreign exchange and remittance needs of their trading partners and customers at a time when formal banking was yet to be established in the Country.

 

With the gradual evolution and semblance of banking in the mid-1960s, the first branch was opened in Abu Dhabi in 1966. From there on the company has made quick strides and progressed to emerge as one of the largest and most popular exchange companies in the UAE. Al Ansari Exchange is rated “5A1” by “Dun & Bradstreet”, an internationally recognized credit rating agency, in addition to being licensed and regulated by the Central Bank of the UAE.

 

Today Al Ansari Exchange boasts a network of over 190 branches, employing over 2,500 multilingual staff who cater to more than 2.5 million customers every month with fast, reliable and efficient service at very competitive rates. The company also conducts more than 80,000 transactions per day and commands 31% market share among exchange houses in the UAE with over AED 40.5 Billion transferred through its network in 2019.

 

While the UAE remains Al Ansari Exchange’s core market, the company will continue to strengthen its presence to be an international brand. As of now, the company maintains a key presence in Kuwait with 9 branches and plans to pursue its ambition of global expansion in the long term.

Historic Milestones

1966

Al Ansari Exchange opened its 1st branch in Abu Dhabi Central Market.

1971

The Union of United Arab Emirates was established.

1973

The Monetary Council was established and the UAE Dirham was first circulated.

1987

Al Ansari Exchange adopted an integrated electronic system in all financial transactions.

1992

The first branch in a shopping mall was inaugurated in the Abu Dhabi Cooperative Society.

1999

The first Al Ansari Exchange rewards program was launched.

2002

A AED1 million cash prize in Al Ansari Exchange Rewards was announced for the first time.

Al Ansari Exchange opened its 1st international branch in Kuwait.

2003

Al Ansari Exchange adopted its new identity and standardized the look and feel of all its branches.

2004

Al Ansari Exchange launched its Cash Express for worldwide remittance to the market.

2010

Al Ansari Exchange launched its payroll solution “PayPlus”, in line with the UAE’s Wages Protection System.

The first mobile branch was introduced.

The 100th branch was inaugurated in Souk Madinat Jumeirah, Dubai.

2013

Al Ansari Exchange’s customer base reached 2 million customers.

2015

Al Ansari Exchange opened it’s 150th branch in the UAE and reached a 2.5 million monthly customer base.

2016

Al Ansari Exchange celebrated 50 years of success and service excellence.

2018

Al Ansari Exchange launched a mobile app to enable online money transfer

2019

Al Ansari Exchange’s Visa Platinum TravelCard was launched with 17 currencies.

to be continued