Al Ansari Exchange partners with Islamic Finance House to offer ...

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 of 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 its 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.

Posted by Rana Mesbah
Sunday, March 18 - 2012 at 15:54 UAE local time (GMT+4)

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About Al Ansari Exchange
Al Ansari Exchange is one of the leading remittance and foreign exchange service providers in the UAE. Founded in 1966, the company has established its presence through an extensive network of more than 110 conveniently located branches across the country to bring its services closer to its customers.

Al Ansari Exchange has established strategic partnerships with leading banking and financial institutions around the globe to reinforce its commitment to provide key financial services to its growing customer base. The company constantly introduces exclusive offerings and reward schemes for its customers, while maintaining a truly unique banking experience through its wide range of technology-driven financial services that cater to specific customer needs. Al Ansari Exchange employs a highly qualified and professional team of over 2,000 multinational employees, who serve more than 1.5 million multi-national customers per month in accordance with consistent level of service experience that meets and exceeds customer expectations.

In addition to remittance and foreign exchange services, Al Ansari Exchange also offers a host of other ancilliary financial services, including bill payments, credit card encashment, international mobile top-up, investment and saving schemes, loyalty programs, e-exchange, payroll solutions and corporate cash collection services.

For more information, please contact:
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Tel: +971 43988901
Fax: +971 43988941
P.O.Box: 23345, Dubai, UAE

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