Glitch at Al Ansari delays UAE residents' remittances, exchange recovers most funds

Dubai: UAE residents, if you faced unexpected remittance issues over the weekend when sending money back home, it was because of a minor technical glitch at Al Ansari Exchange briefly disrupted the transfer of funds, the company confirmed.

The exchange, a household name for expatriates across the Emirates, confirmed in a disclosure to the Dubai Financial Market (DFM) that on Saturday, July 5, a “minor technical issue” led to the unintended transfer of funds into a limited number of customer accounts.

The issue was swiftly detected, and Al Ansari’s team immediately coordinated with financial institutions to recover the majority of the funds, which it says was successful.

“Regular daily transactions have not been impacted by this incident and continue to be processed as usual,” Al Ansari stated.

For UAE-based expats who rely on timely money transfers to support family back home, even brief delays can cause concern. However, Al Ansari assured that remittances are back to normal and additional preventative measures are now being put in place to reinforce system security and prevent similar errors in the future.

The exchange emphasized that no widespread service disruption occurred and that most users were unaffected.