A subsidiary of Al Ansari Financial Services PJSC (the Group), Al Ansari Exchange in Kuwait was established in 2002 as the first foray outside of the United Arab Emirates (UAE).
The business started in the UAE as an offshoot of a flourishing general trading business almost 60 years ago, 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 Group’s acquisition of Oman Exchange Company, a leading exchange company in Kuwait, Al Ansari Exchange in Kuwait now operates 37 branches creating the fourth largest player in the Kuwait market.
Presently, Al Ansari Exchange proudly operates a network exceeding 295 branches throughout the UAE and Kuwait, with plans for expansion into other GCC counries. The company employs over 4600 multilingual staff dedicated to providing millions of customers with swift, dependable and efficient services at highly competitive rates.
Al Ansari Exchange has seen robust growth in its operating performance, averaging around 134,000 transactions a day as of December 2023. The Company has also expanded its portfolio of services to include digital solutions, which saw around 27.5% increase in transactions as of December 2023. We cater to a wide range of financial needs, from foreign exchange services to reliable money transfer solutions, bill payment services and prepaid cards for individuals to corporate remittance services and payment channel solutions for corporates.