Dubai: Al Ansari Exchange said on Monday it has been merged with its unit Al Ansari Exchange Services, thereby creating a bigger entity. The merged entity, which will have an operating capital of Dh1.2 billion, will possess more than 35 per cent market share locally. The entity will provide its services through more than 175 branches and will execute more than 80,000 transactions per day, the company said in an emailed statement.
“We are confident that the recent merger will be a major boost for Al Ansari Exchange to continue excellence and enhance customer services and focus on infrastructure development and operational efficiency in the coming period, in line with our strategic plan to open more than 25 new branches in the coming 2 years,” stated Mohammad Ali Al Ansari, Chairman and Managing Director, Al Ansari Exchange.
