Press releases, Reports & Disclosures for Al Ansari Financial Services PJSC

Al Ansari Financial Services (AAFS) has completed its acquisition of BFC Group Holdings, becoming the largest non-banking financial services provider in the Gulf Cooperation Council (GCC) region by branch network. This $200 million transaction expands AAFS's presence in Bahrain, Kuwait, and India, increasing its customer base by 29% and branch network by 60%. The acquisition enhances AAFS's operational scale and geographic diversification, benefiting shareholders, customers, and employees. AAFS, known for its digital innovation, plans to extend its digital model to BFC Group entities, reinforcing its position as a digital-first player. The acquisition secures AAFS's market leadership in remittances and foreign exchange, strengthens its regional footprint, and complements its growth strategy with BFC's fintech expertise. The integration is expected to generate cost efficiencies and drive revenue growth.

Al Ansari Digital Pay, the fintech division of Al Ansari Financial Services, has received final approvals from the Central Bank of the UAE for licenses necessary to launch its digital wallet. This development supports financial inclusion and the UAE's move towards a cashless society. The approvals include the Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses, allowing the company to offer digital accounts, prepaid cards, and payment services for businesses. The Al Ansari Wallet, a comprehensive mobile application, is set to launch in Q2 2025, providing financial services to both individuals and businesses, including those without traditional banking access. The initiative aims to enhance digital payment solutions in the UAE.

Al Ansari Financial Services PJSC announced that its shareholders have approved a total cash dividend of AED 315 million for 2024, which is 78% of the company's net profit after tax. This includes a final dividend payment of AED 157.5 million for the second half of 2024, following an interim dividend of the same amount distributed in October 2024. Chairman Mohammad A. Al Ansari emphasized the company's commitment to shareholder value and strategic growth, despite market challenges. As part of its growth strategy, Al Ansari Financial Services is set to acquire BFC Group Holding for AED 735 million, which will expand its regional presence and strengthen its market position. The acquisition will make it the largest exchange company in Bahrain and the third largest in Kuwait, while also enhancing its presence in India. The company aims to maintain strong financial fundamentals and deliver sustainable shareholder value.

The text is a proxy form for shareholders of Al Ansari Financial Services PJSC. It allows a shareholder to appoint a proxy to attend and vote on their behalf at the company's General Assembly Meeting scheduled for March 20, 2025, or any adjourned meeting. The form requires details such as the shareholder's name, number of shares held, the name and contact information of the appointed proxy, and the shareholder's signature. The proxy form must be approved or attested by a relevant authority, including their contact details.

Al Ansari Exchange, a leading remittance and foreign exchange company in the UAE, has announced a year-long partnership with Jetour UAE and Elite Group Holding for 2025. Jetour UAE will be the exclusive automotive partner for Al Ansari Exchange throughout the year. This partnership builds on a successful collaboration during Al Ansari Exchange’s Winter Promotion in 2024, where Jetour played a significant role in customer engagement. The partnership will integrate Jetour vehicles into promotional activities, offering customers chances to win premium cars and enhancing their experience. Ali Al Najjar, COO of Al Ansari Exchange, expressed delight in extending the collaboration, emphasizing the shared commitment to excellence and innovation. Jesico Gonsalves, General Manager of Jetour UAE, highlighted the partnership's role in supporting community-driven initiatives and delivering exceptional automotive experiences. More details on upcoming promotions featuring Jetour vehicles will be announced later.