Al Ansari Exchange partners with Islamic Finance House

18 Mar 2012

Al Ansari Exchange, the UAE’s largest exchange house network that provides worldwide remittance and foreign exchange services, has announced a new partnership with Islamic Finance House (IFH) across its branches whereby IFH will issue labour guarantees for companies. Under the partnership, Al Ansari Exchange will offer exceptional value to commercial establishments and a more convenient and cost-effective platform as it does not require an annual renewal fee, which is typically charged by banks.

“The new labour guarantee service provides a more accessible and convenient platform for establishments in the private sector to secure labour guarantees through more than 110 branches of Al Ansari Exchange across the country. It has always been our thrust to build client relations and enhance customer loyalty by introducing new services that match evolving customer requirements. Moreover, the launch of the new labour guarantee service underlines the unique ability of Al Ansari Exchange to quickly respond to emerging market gaps and create greater added value to our customers”, said Rashed Ali Al Ansari, General Manager, Al Ansari Exchange.

Mohamed Omar Keaiti, General Manager of Islamic Finance House said: “We have always gone the extra mile to provide maximum convenience to companies and our partnership with Al Ansari Exchange is an open testimony to this fact. Our agreement with Al Ansari Exchange is a symbol of our growing credibility as we continue to become stronger step by step by creating new benchmarks in the UAE Islamic finance market. Our march towards the highest level of excellence in delivering in class products and services to both individuals and companies will continue with the same passion and dedication as we firmly believe that customers` satisfaction is the ultimate success for any organization.”

The labour guarantee, which is one of the requirements to secure a work permit for an employee, has been implemented by the UAE Ministry of Labour as part of it efforts to safeguard the rights of workers. IFH is authorised by the UAE Central Bank and Ministry of Labour to offer labour guarantees to all commercial establishments operating in the UAE. Al Ansari Exchange collects the labour guarantee payments from customers and transfers the amount to IFH, which can then issue the labour guarantees instantly through its direct access to the Ministry of Labour systems. The entire process is fully automated wherein transaction details are electronically sent by Al Ansari Exchange to IFH every 10 minutes.

Related News

13 Sep 2020

Ajman Free Zone and Al Ansari Exchange Tie Up to Facilitate the Payment of Company Dues and Fees

Ajman Free Zone (AFZ) signed a Memorandum of Understanding (MoU) with Al Ansari Exchange, the leading UAE-based foreign exchange and worldwide money transfer company, to facilitate the payment of any AFZ-registered company, allowing them to pay their fees at any Al Ansari Exchange branch across the UAE. Eng. Ali Abdulla Bin Towaih Al Suwaidi, the […]

Read more

06 May 2020

Al Ansari Exchange becomes the UAE’s first exchange house to integrate UAE Pass into its mobile app and online portal

Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has announced the successful integration of the ‘UAE Pass’ into its mobile app and online portal, making it the first exchange house in the UAE to incorporate the pioneering national digital identity platform into its Digital Channels. In line with this development, customers […]

Read more

07 Apr 2020

Al Ansari Exchange records over 40% increase in mobile transactions in one month

– Over 110,000 online transactions registered in March – Strong digital penetration showcases Al Ansari Exchange’s commitment to provide customers with seamless, fast, and safe channels to support families anywhere and anytime – The company is confident in the resilience of the UAE’s remittance sector to face the current and upcoming challenges – Most branches […]

Read more

18 Dec 2019

Al Ansari Exchange Mobile App now available on Huawei’s AppGallery

Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has announced that its Mobile App is now available for download on Huawei’s app store, the AppGallery. The move marks another milestone in the company’s ongoing digital initiatives as it is the first exchange house in the Middle East to make its mobile […]

Read more

16 Dec 2019

Charitable work earns Emirati woman AED 100,000

Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has revealed that Emirati Fatima Abdullah Al Mazroui has won AED 100,000 grand prize of Al Ansari Exchange’s Mobile App promotion campaign. Fatima, who is the first Emirati woman to bag a major prize for the campaign, used the Al Ansari Exchange mobile […]

Read more

05 Sep 2019

Al Ansari Exchange warns customers against fraudulent calls or scam messages

Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has warned its customers against fraudulent social media messages, text messages, and phone calls claiming that they have won major cash prizes in any of the company’s promotions.

Read more