Privacy policy

ORGANISATION

This statement applies to UAE Exchange UK Ltd (referred to in this statement as ‘the Organisation’). The information included in the statement refers to the financial year 2018. This statement applies to UAE Exchange UK Ltd which has its operations in the UK & Ireland.

ORGANISATIONAL STRUCTURE

UAE Exchange is a renowned financial services brand established in 1980. The brand offers a full suite of diversified and innovative financial solutions in Money Transfer, Foreign Exchange and payments solutions. The customer-centric ethos combined with a quality-driven approach, constant innovation in products and processes, and the deployment of latest technological advancements sets UAE Exchange apart from its peers. UAE Exchange has been globally recognized and awarded for its corporate citizenship, customer service initiatives and business excellence

We are committed to provide our customers with multiple financial solutions at one counter. We operate in some of the world’s dynamic markets and strive to offer our customers a wide range of financial products and solutions.

UAE Exchange UK LIMITED is authorized as Authorized Payment Institution (API) under Payment Service Regulation (PSR 2009) vide PSD 504329 by Financial Conduct Authority (FCA) and Licensed by HMRC for Bureau De Change Activities under MLR Number: 12161686. The company was incorporated 18th June 2009 with Companies House with Company No. 06937891.

The main activities of the company includes doing Money Transfer, Currency Exchange, Gold Loan & Safe Deposit Lockers transaction through it retail & digital channels

DEFINITIONS

UAE Exchange UK Ltd considers that modern slavery encompasses:

  • Human trafficking;
  • Forced work, through mental or physical threat;
  • Being owned or controlled by an employer through mental or physical abuse of the threat of abuse;
  • Being dehumanised, treated as a commodity or being bought or sold as property;
  • Being physically constrained or to have restriction placed on freedom of movement.
COMMITMENT

UAE Exchange UK Ltd acknowledges its responsibilities in relation to tackling modern slavery and commits to complying with the provisions in the Modern Slavery Act 2015. UAE Exchange UK Ltd understands that this requires an ongoing review of both its internal practices in relation to its labour force and, additionally, its supply chains.

UAE Exchange UK Ltd does not enter into business with any other organisation, in the United Kingdom or abroad, which knowingly supports or is found to involve itself in slavery, servitude and forced or compulsory labour.

No employees employed by UAE Exchange UK Ltd are obtained by means of slavery or human trafficking. UAE Exchange UK Ltd strictly adheres to the minimum standards required in relation to its responsibilities under relevant employment legislation in the UK

SUPPLY CHAINS

UAE Exchange acts ethically and with integrity in all business relationships through all supply management chains ensuring that all due diligences are conducted throughout the relationship to mitigate the risks posed by Modern Slavery & Human trafficking.

POTENTIAL EXPOSURE

UAE Exchange UK Ltd considers its exposure to slavery & human trafficking to be relatively limited. Nevertheless it has taken steps to ensure that such practices do not take place in its business nor the business of any organisation that supplies goods and/or services to it.

STEPS

UAE Exchange UK Ltd carries out due diligence processes in relation to ensuring slavery and/or human trafficking does not take place in its organisation or supply chains, including conducting a review of the controls of its suppliers. U A E Exchange UK Ltd has not, to its knowledge, conducted any business with another organisation which has been found to have involved itself with modern slavery.

In accordance with section 54(4) of the Modern Slavery Act 2015, UAE Exchange UK Ltd has envisioned the following steps to ensure that modern slavery is not taking place:

  • Provide employees with a copy of Modern Slavery & Human trafficking policy.
  • Provide training to all employees on Modern Slavery & human trafficking
  • Have a process in place for employees to follow if they identify potential human trafficking or slavery concerns
  • Identify and assess potential risk areas when engaging new suppliers;
  • Perform enhanced ongoing due diligence when reassessing existing suppliers
  • Take appropriate actions against suppliers that fail to meet the standards as pertaining to Modern Slavery & Human trafficking policy
  • Protect the whistle blowers.
POLICIES
UAE Exchange UK Ltd has the Anti Bribery & Corruption policy which will further define its stance on modern slavery
TRAINING

UAE Exchange UK Ltd will provide the modified induction & refresher training to staff to effectively implement its stance on modern slavery.

SLAVERY COMPLIANCE OFFICER

UAE Exchange UK Ltd has a Slavery Compliance Officer, to whom all concerns regarding modern slavery should be addressed, and who will then undertake relevant action with regard to UAE Exchange UK Ltd obligations in this regard.

This statement is made in pursuance of Section 54(1) of the Modern Slavery Act 2015 and will be reviewed for each financial year.

The statement was approved by the Group Chief Executive Officer on 19 March 2019.