Al Ansari Financial Services PJSC

Al Ansari Exchange, the UAE's largest remittance and foreign exchange company, has successfully achieved Payment Card Industry Data Security Standard (PCI DSS) validation for 2024. This certification highlights the company's dedication to maintaining high data security standards. The PCI DSS is a rigorous set of standards ensuring companies that process, store, or transmit debit and credit card information maintain a secure environment. Al Ansari Exchange's compliance with these standards reaffirms its position as a trusted financial services provider. The company also remains committed to investing in technology, infrastructure, and employee training to enhance its security measures and adapt to potential threats.

Al Ansari Exchange, UAE's largest remittance and foreign exchange company, has announced a partnership with Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE). The collaboration will integrate Aani, an instant payment platform developed by AEP, into Al Ansari Exchange's services. The partnership will allow Al Ansari Exchange's customers to make instant digital payments, including money transfers, bill settlements and peer-to-peer payments through mobile numbers, email or QR codes. Aani also offers advanced payment technologies such as Proxy Payments, QR-code-based payments, Request to Pay and Split Bills. The initiative aims to drive financial inclusivity and innovation in the region.

Al Ansari Exchange, the leading remittance and foreign exchange company in the UAE, has continued its 9th annual tradition of delivering 10,000 Iftar meals across all seven Emirates during Ramadan. The company prioritizes eco-friendly packaging for this initiative, reflecting its commitment to both community service and environmental sustainability. The meals are distributed in collaboration with various government entities across 18 locations, targeting those in need. This initiative is part of Al Ansari Exchange's corporate social responsibility efforts to make a lasting positive impact on the communities it operates within.

Al Ansari Financial Services has approved a cash dividend of AED 300 million for H2 2023 at its Annual General Assembly Meeting in Dubai. This brings the total dividend distributions for the fiscal year 2023 to AED 600 million. The company's financial statements for the year ended 31 December 2023 were also approved, along with various policies related to the remuneration of the Board of Directors and senior Executive management, the company's Dividends Policy, and the company's corporate social responsibility. The Chairman of Al Ansari Financial Services highlighted the company's strong financial and operational performance in 2023, attributing it to the company's strategic growth initiatives, innovation, and the support of stakeholders.

The Corporate Social Responsibility Policy of Al Ansari Financial Services PJSC (AAFS) is subject to adoption by shareholders in the General Assembly. The policy defines various terms including the Articles of Association, Board of Directors, Corporate Social Responsibility (CSR) Policy, Committees, Company, Companies Law, Governance Code, General Assembly, Senior Executive Management, Securities and Commodities Authority (SCA), and Special Resolution. The definitions include descriptions of company structure, legal references, and the management hierarchy.

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.

The Board of Directors of Al Ansari Financial Services has announced its annual general meeting to be held on March 19, 2024, at the Sheraton Mall of the Emirates Hotel in Dubai. The meeting's agenda includes reviewing and approving the Board of Directors' report, the auditor's report, and the company's financial statements for the fiscal year ending December 31, 2023. They will also consider a recommendation to distribute a cash dividend of AED 300,000,000, representing 400% of the company's paid-up share capital. Other items on the agenda include approving the Board of Directors' remuneration and discussing whether to discharge the board members and the company's external auditors, Deloitte & Touche, from any liability for the fiscal year ended December 31, 2023.

The press release announces the financial results for the fourth quarter and full year of 2023, which were released on 14th February 2024.