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Qatar-UAE Exchange strengthens branch network; aggressive in online too

Qatar-UAE Exchange, the leading remittance, Foreign Exchange and payment solutions brand, inaugurates its 10th (tenth) outlet in the country. Since its establishment in 2007, Qatar-UAE Exchange has been steadily expanding its network across the kingdom.

The new branch, opened in Doha’s Asian town development area, will further strengthen the brand presence, getting closer to its aim being the favourite neighbourhood brand for its customers.

Inaugurates its 10th outlet in the country

Meanwhile Qatar-UAE Exchange realises that going digital is the way ahead. So the remittance brand is aggressively surging ahead towards enhancing customers’ experience in this realm too. It is the first remittance brand in Qatar to introduce 'online remittance channel'. Customers can just click on www.uaeexchange.com/qat/ and send money conveniently. The online portal, which serves tens of thousands of active digital customers, witnessed exponential growth in online remittance.

Speaking on the occasion, Promoth Manghat, Chief Executive Officer, UAE Exchange Group, said: “Qatar accounted for more than USD 10.4 billion in remittances in 2015, with South Asian countries receiving 70 per cent as per the World Bank. Volatility in the global currency markets coupled with socio-political conditions influenced the currency value. Stronger USD further weakened the other currencies, impacting remittance positively. Also the oil price slump did not affect the remittance flow from the GCC countries much. GCC was the largest remitting region last year. This was possible due to the diversification of the economy, which the Governments did to reduce the dependency on oil. Initiatives like Football World Cup in Qatar, Expo2020 in the UAE, various major infrastructure projects across the region etc., are further attracting migrant talent, especially from the South Asian and Arab countries. These can help the remittance flow to be steady.”

Mathai Vaidian, Country Head, Qatar-UAE Exchange, said: “Qatar-UAE Exchange has always progressed along with the country. For us, our efforts are channelised in enhancing customer experience by being one step closer to them. Our new outlet will help us extend convenience and provide customised financial solutions across traditional and digital platforms to the residents of Asian town. Also, with the country gearing up ahead for the FIFA 2022 World Cup, we are expecting the region to remain a destination of choice for international talent, propelling a robust remittance growth from Qatar.”