Page 137 - AAE PR REPORT - APRIL 2025

4/7/25, 10:05 AM Lebanon’s New Central Bank Head Targets Banking Revival, Anti-Terror Financing Measures
Ali Al Najjar, Chief Operating Officer at Al Ansari Exchange, commented: “While the current market volatility
introduces uncertainty, it also creates space for strategic and informed financial decision-making.”

He added, “Our extensive knowledge of currency market dynamics allows us to support our customers through
these shifting conditions.”

The exchange house reaffirmed its commitment to offering competitive currency exchange rates in the UAE,
transparent transaction fees, and value-added financial services to its growing customer base.

The new US tariff policy, effective from April 2, includes a 10% general import tax, with higher rates targeting
select countries. These changes have contributed to a decline in the US Dollar’s strength against major global
currencies.

According to Al Ansari Exchange, the ongoing USD depreciation opens both challenges and opportunities for
UAE residents and businesses. Weaker USD performance against currencies such as the Euro, Japanese Yen, and
Chinese Yuan may impact remittance costs for expatriates in the UAE.

Conversely, the Indian Rupee (INR) dropped against the US Dollar following the tariff announcement. On April
3, the INR declined by 24 paise in early trading, with similar trends observed in other Asian currencies including
the Pakistani Rupee and Philippine Peso.

This shift offers an advantage for UAE residents sending money to India, as favorable exchange rates can
increase the value of remittances.

Al Ansari Exchange also emphasized its bespoke solutions for businesses in the UAE, designed to manage
currency risk and benefit from favorable foreign exchange movements.

Additionally, Al Ansari Digital Pay—a licensed subsidiary of the publicly listed Al Ansari—recently secured
final approvals from the Central Bank of the UAE (CBUAE) for both its Stored Value Facility (SVF) and
Retail Payment Services and Card Schemes (RPSCS) licenses, further enhancing its fintech capabilities.

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