Ashok-Raipancholia,-Chairman, Orient-Exchange for web
Ashok-Raipancholia,-Chairman, Orient-Exchange Image Credit: Supplied

Please share a short brief on your brand’s association with the UAE Central Bank

Over the last four decades under the governance of the Central Bank of the UAE (CBUAE) we have not only amplified our growth but also developed impeccable AML/CFT norms, bolstered regularly under the supervision of the proficient CBUAE team. Many global economic downturn cycles have iterated but the sturdy regulatory framework by CBUAE has ensured we remain largely resilient and rebound much mightier than before.

As one of the premium money exchange houses in the UAE and the greater Middle East, how has your brand helped the country’s burgeoning remittance sector to thrive over the years?

From our humble commencement in the year 1923, we have witnessed the evolution of the remittance and foreign exchange industry from our fledgling onset with issuance of draft during the 1960s to our current modernistic state of art credit within seconds for home remittance to South Asian corridors, serving the large expat community to their expectation in the new fast-paced era. With the approval of the CBUAE, we are instrumental in processing salaries for the workforce of many companies with zero error, as an authorised Wage Protection System (WPS) service provider.

Please share a short and exclusive message congratulating the UAE Central Bank on its 40th anniversary and how you see your brand building on the long and fruitful partnership built upon and shared by both entities.

Orient Exchange extends heartiest congratulations to the Central Bank of the UAE (CBUAE) on their 40th Anniversary and takes this opportunity to say Thank You for the numerous trainings, seminars, guidelines and examinations that have sculpted uniformity within our industry and brought a sense of buoyancy to the Compliance Framework within the financial sector. CBUAE has set a benchmark for many other regulators globally with effective AML/CFT regulations, augmented polices, well defined controls and formulated rules for all financial institutions. Congratulations to the CBUAE Board of Directors and its personnel for their meticulous efforts to structure the UAE’s economy for being sound and stable.