About Us - Al-Ansari Exchange

About Us

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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 39 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.

Historic Milestones

2002

Al Ansari Exchange opened its first branch in Kuwait.

2003

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

2004

Al Ansari Exchange introduced its global Cash Express service, extending seamless worldwide remittance options to the international market.

2010

Al Ansari Exchange achieved a dual milestone by launching its pioneering mobile branch and inaugurating its 100th branch at Souk Madinat Jumeirah in Dubai.

2013

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

2015

Al Ansari Exchange achieved a significant milestone, reaching a monthly customer base of 2.5 million individuals worldwide, underscoring the widespread appeal and trust in its financial services.

2016

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

2017

Al Ansari Exchange opened its 9th branch in Salmiya, Kuwait.

2020

Al Ansari Exchange in Kuwait officially launched its website, providing a digital platform for enhanced accessibility and convenience in financial transactions and services.

Al Ansari Exchange tops the list of most prominent transfer and exchange companies in Middle East by Forbes.

2021

Al Ansari Exchange commemorates a significant milestone as it proudly inaugurates its 200th branch, marking a testament to the company’s continued expansion and commitment to providing financial services.

The Al Ansari Exchange Mobile App secured the top position among Fintech Apps in the  UAE and GCC, and a notable second rank in the Middle East Region, as recognized in the Forbes Middle East list of the Top 15 Fintech Apps for 2021.

2023

Al Ansari Financial Services has received approval to acquire a controlling stake in a prominent exchange company in Oman.

to be continued