Page 101 - AAE PR REPORT - August 2024

8/13/24, 1:18 PM Al Ansari Financial Services signs agreement to acquire BFC Group Holdings with strategic advisory from Protiviti Member Firm for …
two years, which is a testament to our dominance in this space in the Middle East. Our team
worked closely with AAFS and external advisors to facilitate a seamless and smooth transaction.”

Rashed Ali Al Ansari, Group CEO of AAFS, stated: “This strategic acquisition represents a pivotal

moment in our growth trajectory, establishing our Company as the leading foreign exchange and
remittance service provider in the Gulf region. By broadening our customer base and extending
our services across the GCC and India, we aim to provide a wider audience with access to our

comprehensive remittance and foreign exchange solutions. This move enhances our regional
presence and aligns with our broader diversification strategy and expansion into new markets.

Ultimately, this transaction is designed to deliver sustainable value and optimal returns for our
shareholders.”

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