UAE Exchange celebrates 35 years of growth

Global remittance company UAE Exchange celebrated its 35th anniversary in business Friday.

The firm, based in Abu Dhabi, now handles $26 billion annually -- 25.4 million transactions -- making them the world's largest global remittance company. There are 800 UAE Exchange branches in five continents.

"As the world’s third largest migrant destination, the evolution of the remittance industry in the Gulf region has a global significance," Promoth Manghat, UAE Exchange CEO, said. "Literally, from snail-paced remittance transactions to sending money in a flash with the aid of superior technology, UAE Exchange has moved at a brisk pace with significant milestones of service innovation on the way."

Manghat said the company's growth could also be attributed to their embracing of technology. 

“The sophistication and awareness of customers is now high among all categories of migrants with smart technology paving the way to this evolution and at UAE Exchange our endeavour is to keep up with the pace of change,” Manghat said.