Page 102 - AAE PR REPORT - JUNE 2025

6/3/25, 9:05 AM Al Ansari Financial Services India Launch Begins Global Exp
This includes AI-driven compliance tools, real-time exchange rates, and multi-lingual support to suit
India’s diverse customer base.
Regulatory Approvals and Local Presence

To operate in India, Al Ansari has obtained necessary regulatory approvals and has partnered with local
banks and service providers. The company’s headquarters for Indian operations will be based in Mumbai,
India’s financial capital.

It has also secured approvals from the Reserve Bank of India (RBI) to engage in foreign exchange and
outward remittance services, further solidifying its commitment to compliant and secure operations.
The company plans to open branches across major metro cities in India over the next 12–18 months.
A Major Step in Al Ansari’s Global Strategy

This move is part of a wider strategy to grow beyond the Middle East. After listing on the Dubai Financial
Market (DFM) in 2023 and reporting strong revenue growth, Al Ansari has been looking to diversify into
new geographies.
India marks the company’s first major push into South Asia, with more expansions expected in Southeast
Asia and Africa.
In 2024, the company reported a 17% year-on-year increase in net profit, which has given it the financial
strength to invest in international growth.
What It Means for Indian Consumers

The entry of Al Ansari Financial Services India offers new options for Indian consumers who regularly
send or receive money from abroad. Currently, the remittance and forex sectors are dominated by a few
major players. Al Ansari brings added competition, likely driving:
Lower fees
Better exchange rates
Faster transactions
Greater digital convenience
This is especially valuable for migrant workers and small businesses that often rely on fast, affordable
international transfers.
Tapping into India’s Booming Fintech Scene

India has emerged as a fintech powerhouse, with hundreds of millions of digital wallet users and a
growing appetite for financial innovation.

Al Ansari plans to collaborate with Indian startups and fintech firms to roll out new services, including:
Multi-currency digital wallets
Cross-border UPI integration
Instant KYC and onboarding
These services aim to make international money transfers as simple as sending a local payment.

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