Company Research Report: Al Ahalia Money Exchange Bureau (AEB)
Company Overview
Name:
Al Ahalia Money Exchange Bureau (AEB)
Mission of the Company:
To maximize value to all the stakeholders – our customers, our staff, our shareholders, the regulators and the community at large by adopting best practices and continually striving for excellence so that we can be the most passionately referred service provider in the world of money exchange.
Vision:
To provide personalized assistance and superior quality standards for our esteemed customers through constant innovation. The ultimate goal is customer satisfaction for which we create diverse services at perfect prices.
Values:
- Customer service satisfaction
- Integrity and Respect
- Excellence
- Teamwork
- Open communication
- Good work environment
- Social responsibility
Date of Incorporation:
1996
Founder:
Incorporated by the well-known Ahalia Group.
Key People:
- Chairman: Mohamed Saeed Houfan Al Mansoori
Headquarters:
Abu Dhabi, UAE
Number of Employees:
500+ multinational workforce
Revenue:
No information is available.
Known For:
Ahalia Exchange is known for being one of the most leading exchange houses in the Middle East, primarily focusing on money transfers and money exchanging.
Products and Services
Products Offered:
1. Corporate Services
- WPS Services: Compliance with UAE Ministry of Labor, Electronic Wages Protection System, salary ATM cards.
- Forex: Foreign exchange service.
- Value Added Tax (VAT): VAT-related services for corporate clients.
2. Retail Services
- Bank Transfers: Secure and quick bank transfers globally.
- Instant Money Transfers: Fast remittance services.
- Mobile Money Transfers: Transfer money via mobile services.
- Forex: Foreign exchange services.
- Loyalty Cards: Rewards for regular customers.
3. Ancillary Services
- Credit Card Payments: Accepting credit card payments for all major UAE banks.
- Bank Deposits: Deposit money directly to bank accounts.
- International Mobile TOP-UP: Recharge mobile phones internationally.
- SSS/PAG-IBIG Payments: Facilitate payments for services like Social Security System and Philhealth for specific customer groups (e.g., Philippines).
High-level Description of the Product:
Ahalia Exchange provides sophisticated remittance services for customers to send money within minutes through their correspondent banks worldwide.
Key Features of Each Product:
- Corporate Payroll Solutions: Salary disbursal, ATM cards, salary withdrawals.
- Instant Money Transfer and Flash Remittances: Instant credit to the beneficiary’s account in certain regions.
- Forex Services: Competitive currency exchange rates.
Recent Developments
Recent Developments in the Company:
- Winter Promotion 2023-24: Announced a winter promotion running from October 12th, 2023, to February 8th, 2024. Customers can win one of 10 luxury SUV cars.
New Products Launched:
No information is available.
New Features Added to Existing Products:
- Flash Remittances: Instant bank account credits in partnership with leading banks.
New Partnerships:
- Tie-ups with all major banks globally for extensive remittance channels.
Additional Remarks:
Al Ahalia Money Exchange Bureau has a strong presence with over 30 branches spread across the Emirates and serves an extensive range of customer needs through various advanced financial services. The company’s growth is attributed to its commitment to customer satisfaction and innovation in financial service offerings.
