Al Ansari Exchange to open 15 new branches by year-end

Al Ansari Exchange to open 15 new branches by year-end

Dubai: Remittance and forex entity Al Ansari Exchange plans to launch 15 new branches across the UAE by the end of 2023, it said on Monday. This expansion is part a strategy of the parent company -- DFM-listed Al Ansari Financial Services – to further scale and improve consumer accessibility, aiming to reach a network of approximately 300 branches within the next five years. Al Ansari Exchange has successfully opened five new branches since the beginning of 2023. Additionally, the company has acquired approvals for 10 more branches. The 15 new branches will cover underserved areas in Abu Dhabi, Dubai, Sharjah and other cities, taking the total number of physical branches to 246. Rashed A. Al Ansari, Group CEO of Al Ansari Financial Services, explained: “The opening of 15 new branches this year is aligned with our strategic priority of further cementing our market leadership position in our home market. Our plans are bolstered by the encouraging continued strength in the UAE economy, particularly the boom in the tourism and jobs market expansion. “The strategic decision to open more branches this year is also supported by our data analytics which has given us greater insights into customer trends. The findings