Page 16 - AAE PR REPORT - APRIL 2025

Press Release

Al Ansari Exchange and ruya Partner to Offer Free Cash Deposits
Across the UAE

Dubai, UAE - 14 April 2025: Al Ansari Exchange, the UAE’s largest remittance and foreign
exchange company and a subsidiary of Al Ansari Financial Services PJSC, and Ruya Islamic
Community Bank or “ruya”, a leading digital-first Islamic community bank, are thrilled to
announce that they have signed a strategic partnership aimed at enhancing financial inclusivity and
convenience for customers across the UAE. This collaboration will enable ruya customers to enjoy
instant and fee-free cash deposit services at over 260 Al Ansari Exchange branches nationwide.

This initiative reflects both organisations' commitment to empowering individuals, businesses, and
communities by providing accessible and innovative financial solutions.

Ali Al Najjar, Chief Operating Officer of Al Ansari Exchange, expressed enthusiasm about the
partnership, stating, “We are excited to collaborate with ruya, an innovative institution that shares
our dedication to customer satisfaction and innovation. This seamless and fee-free cash deposit
using our domestic remittance option is an excellent opportunity to extend our trusted services to
a broader audience, ensuring that more people can benefit from the convenience and efficiency we
offer.”

Christoph Koster, CEO of ruya, echoed this sentiment, saying, “Our partnership with Al Ansari
Exchange is a testament to our mission of providing seamless and inclusive financial services to
our customers. The no-charge cash deposit service using our domestic remittance option at over
260 locations across the UAE is a significant step towards making banking more accessible and
straightforward for everyone.”

This collaboration marks a significant advancement in enhancing digital banking services while
ensuring financial inclusion and cost-effective solutions for customers throughout the UAE. As
the UAE continues to establish itself as a global financial hub, partnerships like this play a crucial
role in fostering innovation and making banking services more accessible to all.

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