
One of the leading integrated financial services groups in the UAE

About Us
Al Ansari Financial Services is one of the leading integrated financial services groups in the UAE.
It empowers its operating subsidiaries, Al Ansari Exchange, Al Ansari Exchange Kuwait (full acquisition by the Group is currently ongoing and expected to be completed post-IPO), Worldwide Cash Express, CashTrans and Al Ansari Digital Pay (under incorporation in the UAE), to unlock their growth potential through synergy.
The Group’s global platform provides cross-border payments, foreign currency exchange solutions, access to the Wage Protection System (WPS) in the UAE, and other services such as bill collection and pre-paid cards, as well as payment technology solutions to consumers and businesses in the large and growing payments and foreign currency exchange and remittance market in the UAE.
Through its subsidiaries, Al Ansari Financial Services provides its products and services to a diverse range of customers, including:
- Retail: residents and inbound and outbound tourists
- Corporates: large, medium and small enterprises in the UAE, global sending and receiving institutions and agents, and other exchanges
The Group delivers its products and services through a comprehensive global network underpinned by its proprietary technology and relationships with third parties.
Underpinned by the UAE’s growing position as a global financial, commercial, talent and tourism hub, the Group has expanded its core offerings to include:
- Remittances – The Group provides remittances at its retail branches and via its digital channels, offering domestic and global money transfers through its proprietary money remittance platforms, Cash Express, Global Fund Transfer and Worldwide Cash Express, as well as through its money transfer operator partners such as Western Union, and its transfer payment network where transfers to bank accounts are executed via money transfer services such as SWIFT or Ripple. The Group offers remittances for its retail and corporate customers.
- Bank Notes – The Group’s retail and wholesale foreign currency exchange services primarily comprise the sale and purchase of foreign currency directly to and from retail and wholesale customers. The Group offers its bank notes services in over 70 currencies across all its branches. The Group also offers pre-paid cards as part of its retail foreign currency exchange services. Both the Group’s Travelcard and FlexiblePay products are reloadable pre-paid cards that can store either single or multiple currencies on the card, and which also allow the conversion of such currencies to other currencies by the user. The Group’s pre-paid cards, where available, can be purchased or reloaded in the Group’s branches, online or through the mobile app.
- Wage Protection System– The Group offers corporate payroll solutions, executing wage payments on behalf of companies operating in the United Arab Emirates in compliance with the directives of the UAE’s Ministry of Human Resources & Emiratisation, under the Wage Protection System initiative.
- Others Services – The Group’s other offerings include, among others, bill collection and end-to-end cash management solutions.

Competitive Advantage
Al Ansari Financial Services has the competitive advantage of an extensive physical presence across the UAE, with 231 physical branches as at 31 December 2022, and an untarnished reputation with zero regulatory breaches or penalties to date. Meanwhile, its strong and growing digital capabilities are driving scale, enabling it to capture greater market share and supports customer retention rates while boosting efficiency.
Beyond the UAE, Al Ansari Financial Services expanded into Kuwait with the establishment of Al Ansari Exchange Kuwait in 2002. Al Ansari Exchange Kuwait, an entity owned by some of the current shareholders of the Selling Shareholder, is currently in the process of being fully acquired by Al Ansari Financial Services. According to management, upon completion, the acquisition will give the Group a strong presence in the sixth-largest outward personal remittances market globally in 2021. The transaction is expected to be completed post-IPO.
Our History
Since the founding of our first business, Al Ansari Exchange, in 1966, we have expanded our physical presence across the UAE while introducing innovative products and services and establishing specialised entities, such as WorldWide Cash Express and CashTrans, to adapt to market trends and changing regulations. As we continue to expand the business over time, the only constant has been our focus on catering to our customer’s evolving needs and preferences. This is demonstrated through our investment in our digital channels while also maintaining a prominent physical presence to offer face-to-face interactions. We are proud of our accomplishments to date and look forward to continuing our journey.
Board of Directors

MOHAMMAD AL ANSARI
Chairman
Mohammad Ali Abualhassan Al Ansari is the Chairman of the Company. He is the founding Chairman of the Foreign Exchange..

FUAD AL ANSARI
Vice Chairman
Fuad Ali Abualhassan Al Ansari serves as the Vice Chairman of the Company. He joined the Group in 1995, and led the organization’s..

EISA AL ANSARI
Director
Eisa Ali Abualhassan Al Ansari serves as a member of the Board of Directors of the Company. He joined the Group in 1995 and has over 27 years..

RASHED AL ANSARI
Director
Rashed Ali Abualhassan Al Ansari is the Group Chief Executive Officer. He joined the Group in 2010. He has previously worked at Dubai Holdings..

NITIN KHANNA
Director
Nitin Khanna serves as an independent non-executive member of the Board of Directors of the Company. He has over 40 years of experience in the Middle East region..

RAJA AL MAZROUEI
Director
Named among the global “Top 100 Women in FinTech” by Innovate Finance, Raja Al Mazrouei has been a key figure in solidifying the United Arab Emirate’s position..

MARCELLO BARICORDI
Director
Marcello serves as an independent non-executive member of the Board of Directors of the Company. Marcello is a Senior Executive..
Executive Management

RASHED AL ANSARI
Group Chief Executive Officer
Rashed Ali Abualhassan Al Ansari is the Group Chief Executive Officer. He joined the Group in 2010. He has previously worked at Dubai Holdings..

MOHAMMAD BITAR
Deputy Group Chief Executive Officer
Mohammad Bitar is the Deputy Group Chief Executive Officer. He has more than two decades of experience in the financial services industry..

ALI AL NAJJAR
Chief Operating Officer
Ali Al Najjar is the Chief Operating Officer of Al Ansari Exchange. Ali is also in charge of executing the company’s growth strategy..

FAISAL ANWAR
Group Chief Financial Officer
Faisal Anwar is the Group Chief Financial Officer. He leads the organization’s financial growth strategies, budgeting and forecasting, business performance..

GEORGETTE YOUSEF
Group Chief Human Resources Officer
Georgette Yousef is the Group Chief Human Resources Officer responsible for leading on all aspects of Human Resources within the Group..

ABDEL HADI MUSTAFA
Group Chief Technology Officer
Abdel Hadi Mustafa is the Group Chief Technology Officer of the Company. Prior to joining the Group, Abdel Hadi led the digital transformation..

ASHRAF MOUSSAD
Group Chief Corporate Services Officer
Ashraf Moussad is the Group Chief Corporate Services Officer. He is in charge of the Company’s network expansion, leasing, projects, procurement, logistics, and facilities management..

VISWANATH RAMASUBRAMANIAN
Group Chief Internal Auditor
Viswanath Ramasubramanian is the Group Chief Internal Auditor. Viswanath has over 25 years of experience in leading internal audit, regulatory compliance..

KAPIL DEV ARORA
Group Head of Correspondent & Banking
Kapil Dev Arora is the Group Head of Correspondent & Banking Department. Kapil has over 22 years of experience in leading international cross-functional business..

HUSAM SHABANI
Group Head of Marketing
Husam Mahmoud Shaker Shabani is the Group Head of the Marketing Department. He is a seasoned professional with 20+ years of experience in advertising..

DANA KHALAF
Group Senior Manager of Corporate Communications & Investor Relations
Dana Khalaf is the Group Senior Manager of Corporate Communications and Investor Relations. Dana is an accomplished senior marketing..

MUHAMMAD HAROON
Head of Operations of CashTrans
Muhammad Haroon is the Head of Operations of CashTrans, leading and managing the entire operations of the company from cash management, cash logistics, security..

VIVEK NAIR
Country Head of Kuwait Operations
Vivek Nair is the Country Head of Kuwait Operations. He brings with him over 20 years of experience in cross border payments..

OMER FAROOQ
Head of Operations of Worldwide Cash Express
Omer Farooq is the Head of Operations of Worldwide Cash Express. Omer leads Worldwide Cash Express business expansion strategies, market penetration and overall operations..

GET IN TOUCH
Contact Us
- UAE Call Center: 04 222 0800
- Call Center Timing: 08:00 AM – 05:00 PM
- Email: info@aafs.ae
Office No. 804, Al Ansari Business Center, Al Barsha 1, Dubai, United Arab Emirates