Page 38 - Arabian Business

INDIAN ACES POWERED BY:

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B Promoth
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D Manghat
CEO
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UAE EXCHANGE GROUP
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Finance
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OVER THE LAST DECADE, PROMOTH
O Manghat has overseen the development
of UAE Exchange into one of the leading
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providers of remittance, foreign exchange
and payments services in the country,
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transforming it into a truly global entity
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and building category leaders from
various brands within the group.
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Today, UAE Exchange has close to
800 direct offices in 31 countries, which
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are able to serve more than 15 million
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customers – the largest global network
in its class. In 2016, UAE Exchange
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handled $29m in remittances globally,
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which represents 6.5 percent of the total
remittance market share. It also handled
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$64bn in foreign exchange.
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One of its brands, Xpress Money,
Z a global money transfer service, now
enjoys a presence in more than 160
countries and over 180,000 agent
locations, and offers account credit,
mobile wallet, door delivery, ATM
Payout and credit-to-remit card
facilities. Its focus on digital innovation
resulted in Xopoto, the world’s first app
that enables money transfer through
social networking sites.
Travelex, the world’s leading
independent foreign exchange
specialist, has a 13 percent share in
the retail forex market globally. It has a
global footprint including 1,500 stores
and 1,300 ATMs across 27 countries.
The presence includes all major
international airports, seaports, rail
and tourist locations of the world.
38 Vol. 19/04, January – February 2018