The impact of Russo-Ukrainian war last year is pervasive on Exchange House business around the world. With recent willingness of Saudi Arabia to settle their oil trades in currencies other than the US dollar, the petrodollar regime being challenged, has given rise to currency risks, which are heavily disruptive to Exchange business particularly in the Middle East. Another paradigm created by China’s drive to expand its Central Bank Digital Currency (CBDC), “the e-yuan”, is hinting at new avenues for other countries. In spite of the globally changing monetary landscape, the Exchange House business in the GCC has evolved and streamlined for the better. Forbes has cited the leading Exchange Houses such as LuLu (UAE), Al Ansari (UAE), Al Mulla (Kuwait), Alfardan (Qatar), and Purshottam Kanji (Oman) as being the Top 5 GCC Exchange Houses Going Digital.
We carry lions share when it comes to supporting the Exchange business in GCC for Compliance and RegTech needs. Our group company Remitex Technologies has been cited as one of the fastest growing unicorns in the Middle East region. We have served more than 55 Exchange Houses in GCC since our inception and have working relationships with FATF, national regulators and Exchange associations in the GCC region, and are established as thought leaders, enablers and solution providers of choice. We can support your Exchange House in RegTech, AML/CFT Compliance, EWRA, Remediation, Transformation, Internal Audit, Tax and Expert Secondments. We have imparted numerous Board and management level trainings and mass-scale awareness raising webinars in the region. Partner with us to get the highest value for money in your core and support operations.