Al Ansari Exchange Sees Significant Increase in Money Transfers to Egypt
Al Ansari Exchange, the UAE's leading remittance and foreign exchange company, reports a surge in money transfers from the UAE to Egypt following the Central Bank of Egypt's decision to float the Egyptian Pound.
Summary
Al Ansari Exchange is experiencing a significant increase in money transfers from the UAE to Egypt, driven by the Central Bank of Egypt's decision to float the Egyptian Pound. This move is beneficial to Egyptians living in the UAE, and the company is committed to offering reliable and efficient financial transfer services.
Al Ansari Financial Services PJSC, one of the leading integrated financial services groups in the United Arab Emirates, has reported a significant increase in money transfers from the UAE to Egypt. The surge comes in the wake of the Central Bank of Egypt's decision to float the Egyptian Pound, a move that has been beneficial to Egyptians living in the UAE.
Ali Al Najjar, Chief Operations Officer at Al Ansari Exchange, stated that the decision has greatly impacted financial transfers from the UAE to Egypt. He further reaffirmed the company's commitment to continue offering reliable and efficient financial transfer services. Egypt is currently the fifth most active corridor for financial transfers from the UAE, following India, the Philippines, Pakistan, and Bangladesh.
With a market cap of 8,025,000,000 and a steady yield over the past few months, Al Ansari Financial Services PJSC is demonstrating solid financial performance. The company's activities, as detailed in the AOA and Listing Prospectus, underline its comprehensive global network and proprietary technology, which underpins its products and services.
Looking to the future, the outlook for Al Ansari Financial Services PJSC is optimistic. The company's robust financial performance, coupled with a favourable economic environment, positions it well for continued growth. For investors, this presents an opportunity to be part of a company that is not only financially sound but also plays a pivotal role in the UAE's financial landscape.
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Summary
Al Ansari Exchange, the UAE's largest remittance and foreign exchange company, has reported a significant increase in money transfers from the UAE to Egypt following the Central Bank of Egypt's decision to float the Egyptian Pound. The company stated that this decision is beneficial to Egyptians living in the UAE. Ali Al Najjar, Chief Operations Officer at Al Ansari Exchange, said the move has greatly impacted financial transfers from the UAE to Egypt and reaffirmed the company's commitment to continue offering reliable and efficient financial transfer services. Egypt is the fifth most active corridor for financial transfers from the UAE, after India, the Philippines, Pakistan, and Bangladesh.
