Al Dahab Exchange as a company started operations in the United Arab Emirates in 2003. Today it has a strong base of customers of all nationalities and has excellent correspondence arrangements with major international banks, Remittance Houses and Exchange Houses across Africa, Middle East, Asia, South East Asia, United Kingdom, United States of America and North America. Al Dahab Exchange covers a vast geographical network, eventually serving customers with quality and cost effective remittance and foreign exchange services.
Al Dahab Exchange has six branches across UAE:
Baniyas Square Branch, Dubai
Gold Souq Branch, Dubai
Abu Dhabi Branch, Abu Dhabi
Mussafah Branch, Abu Dhabi
Sharjah Branch, Sharjah
Ajman Branch, Ajman
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The group has excellent AML/CFT regime, which encompasses its network of locations. All customer transactions are professionally screened and checked before they are send live on its online remittance system. The company maintains all record of transactions up to 5 years as stipulated by the regulatory authorities worldwide. The system has online Access to World Check & AML Compass which checks all transactions with the leading list of agencies worldwide, including the OFAC, EU, HMRC, UN sanctions list, to name a few.
ASSURANCE OF SECURITY
In its relentless efforts to exercise caution in all its transactions, al Dahab Exchange has additionally installed World-Check System, a real time data verification system, wherein almost 350 agencies including OFAC, EU, HMRC, UN sanction list and similar other agencies including the banned list of customers, from various central banks updated on real time basis. All transactions are actually checked against the list and only after being satisfied these are processed by Al Dahab Exchange for further pay-outs.
Al Dahab Exchange has a stringent policy of preparing a KYC “Know Your Customer” profiles for almost all its regular customers, where in a detailed profile is prepared and recorded for all its customers. Al Dahab Exchange also has CDD “Customer Due Diligence” procedures and it also conducts EDD “Enhanced Due Diligence” process for its transactions wherever necessary.
It has a dedicated compliance department and a team of AML professionals posted at each of its branches who are responsible to validate transactions generated and paid out on daily basis. Al Dahab ensures that all the staff members are thoroughly trained before they are delegated with the responsibility of attending any customers for using its services related to remittance and foreign exchange.
In fact, Al Dahab Exchange is one among the first exchange houses in the UAE who has effectively implemented strong AML/CFT regime and it has been operating its business in a professional manner.
The management and team of Al Dahab is committed to provide quality service to all its customers and ensures that all regulatory and International standards are strictly followed and services are offered in the most professional manner to all its customers and corresponding agents worldwide.
One of the fastest growing exchange houses in the UAE
Best rates for bulk and retail foreign currencies.
Commercial and personal remittances globally.
Correspondent banking relationships with major global banks.
Direct online transfers in USD/GBP/EURO/JYP/RMB.
Remittance to India, China, Eurozone, Far East Asia & Africa.
Mamber and Participant on Swift.
Compliant with active World check database and Finscan systems.
Effective AML/CFT, Remittance wise Volume and Velocity check & transaction monitoring.