Al Razouki International Exchange Co. LLC, a leading company in financial transfers and foreign exchange, has recently opened three new branches in the local market in Abu Dhabi and Dubai. This step brings the total number of its branches to 19 outlets.
The company, which is considered one of the largest exchange companies in the UAE, opened two branches in the emirate of Abu Dhabi in Ghayati and Bida Zayed City, and the third branch is located in Al Raffa area in Bur Dubai. Opening these branches comes within a plan Al Razouki International Exchange Company launched to expand its operations all over the local market to cover the different emirates.
This company started its business by offering remittance services to India. It grew drastically over the years to provide remittance services in the UAE. During the past 30 years, it was able to show considerable and fruitful progress in terms of services. Currently, it is considered one of the most favored exchange companies among expatriates because it can meet their needs to remit money to India, Pakistan, Bangladesh, Sri Lanka, the Philippines, United Kingdom, Nepal, and many other countries. Thanks to the management’s vision, the company now looks forward to playing an active role in this sector during the coming years.
Abdul Razak Abdul Aziz Al-Mutawa, the UAE-national businessman and a senior expert in civil engineering sector, is the chairman of the board of directors. Meanwhile, Morreg Menjan, one of the most prominent expatriate businessmen and the Chairman of ITL Cosmos Group is the Vice- Chairman. The board also includes Mr. Mohammed Sherif Mohamed Hadi Al Hadi, the former director of the UAE Central Bank – Dubai branch, and Dr. Ram Boxani one of the leading businessmen in UAE, the Vice President ITL Cosmos Group and the Chairman of the Indian Club in Dubai.
Al Razouki International Exchange Co. LLC is one of the Western Union’s agents for money transfer. It provides this service to its clients to send or receive money all over the world within minutes. It is also the agent of many other companies, including X Press Money, IME Remit, Himal Remit, Speed Remit Transfast. The company is working now to add a new service to charge mobile phones in India, Sri Lanka, Pakistan, the Philippines, Vietnam, Sudan and many other countries.
The company is licensed by the UAE Central Bank and the Ministry of Labor in order to pay the salaries of employees under WPS system. Currently, more than 48,000 workers in 8,000 companies are paid though Al Razouki International Exchange.
“The opening of three new branches in Abu Dhabi and Dubai reflects our strategic move to strengthen our presence in the UAE.
It also embodies our efforts to meet the growing demand for more financial services, such as money transfer and foreign exchange,” Abdul Razak Abdul Aziz Al Mutawa, Chairman of the Board of Directors of Al Razouki International Exchange Co. LLC said. Undoubtedly, we will keep our promise by playing a major role in providing financial services to all segments in society and to be the closer to our clients. We are confident that we are able to achieve our goals by strengthening our leadership in the field of remittance services and foreign exchange in the United Arab Emirates,” he added.
In addition, Al Razouki International Exchange has recently opened its operation office in Karama, Dubai. The step confirms its commitment to creating an easier way to provide services to its growing customer base. It also translates the company’s strategic expansion strategies to provide its basic and strategic financial services for its clients in an easy and comfortable manner.
Wednesday, August 20- 2014 @ 15:14 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.