Al Ansari Financial Services PJSC (“AAFS” or “the Group”), has formally announced its intention to float 10% of its issued share capital on the Dubai Financial Market (“DFM”) through an initial public offering (“IPO” or “the Offer”).

As one of the leading integrated financial services groups in the United Arab Emirates (“UAE”) with 56 years of experience in the money transfer and exchange business, the Group has today created a specialised ecosystem that 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.