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3/15/24, 8:46 AM Financial Transfers From UAE To Egypt Surge Post-EGP Liberalisation: Al Ansari Exchange | MENAFN.COM
Financial Transfers From UAE To Egypt Surge
Post-EGP Liberalisation: Al Ansari Exchange
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3/14/2024 2:14:21 PM
(MENAFN- Daily News Egypt) Al Ansari Exchange, a leading provider of transfer and foreign
currency exchange services in the UAE and part of the Al-Ansari Financial Services Group,
has reported a significant increase in money transfers to Egypt following the liberalisation of
the Egyptian pound.
The company observed a marked rise in the volume of financial transfers to Egypt after the
Central Bank of Egypt's (CBE) announcement to float the pound and allow its exchange rate
to be determined by market dynamics. This move has been particularly advantageous for
Egyptians living in the UAE.
Ali Al-Najjar, Chief Operating Officer of Al-Ansari Exchange, remarked that the Egyptian
government's recent policy to liberalize the pound's exchange rate has had a markedly
positive effect on the flow of financial transfers into Egypt.
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