Page 151 - AAE PR REPORT - June 2024

5/13/24, 10:28 AM UAE remittance companies still facing challenges from 'parallel market': Al Ansari | Banking – Gulf News
first quarter of 2024. This growth highlights the success of our user experience strategy,

making it clear that our digital solutions are convenient, accessible, and perfectly in

tune with customer needs."

According to Mohammad Bitar, Deputy Group CEO, "Our operational efficiency
remains high, with a steady EBITDA margin of near 45 per cent even in a rising cost

environment.

"It is worth noting that, compared to the previous quarter, we saw a 2.2 per cent

increase in operating income. This is a clear sign that the challenge posed by the parallel

market is beginning to abate."

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