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China Becomes the Latest and Major Link in the UAE Exchange Global Network

06-05-2012 08:05 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: UAE Exchange

The inauguration ceremony

The inauguration ceremony

UAE Exchange, the leading global remittance and foreign exchange brand, started its retail operations in China with the inauguration of Himalayas Centre Mall branch in Pudong District of Shanghai.
"Great news for all Chinese expatriates and travellers to China", said Mr. Y. Sudhir Kumar Shetty, COO – Global Operations, UAE Exchange, on the occasion of UAE Exchange launching its retail operations in China. "Now they can join millions of our happy customers to experience our foreign exchange services. They can enjoy the same brand experience, which has made us a global leader in money service business. We feel privileged to serve the global Chinese community and people travelling to China. As a responsible organisation entering this new and gigantic market, we hope to adapt ourselves to the culture and best practices in China and also live up to the expectations of our customers, partners and regulators in China", he added.
China is the one of the most active markets in foreign exchange realm and it is apt for the leading player in the business to start its retail operations here. With this move, the world’s most populous country became the latest and a major link in the global network of UAE Exchange. This entry is in line with the UAE Exchange’s vision to spread its wings aggressively, worldwide. With the inauguration of the Himalayas branch in Shanghai, UAE Exchange initiated its retail operations in the land of the great wall. The branch is located at the lower level of the Jumeirah Hotel in the newly built Himalayas Centre Mall.
"We are extremely grateful to the Chinese authorities in the State Administration for Foreign Exchange (SAFE) for giving us this opportunity to prove our capability in the China market. Our special thanks go to our long-time partner, the Bank of China, for guiding us through this process", pointed out Mr. Sudhir Shetty.
Mr. Promoth Manghat, Vice President – Global Operations, UAE Exchange, said, "We are extremely delighted to start our operations in China. Like every other market in the world, which we entered, China too offered us a warm welcome. We bring to the table, the customer-centric approach and the passion to excel, the very same elements, which made us the most preferred brand worldwide."
UAE Exchange entered China with 31 years of experience in the remittance and foreign exchange business backed by the state-of-the-art technology and a dedicated customer service team. This customer-oriented organisation is sure to emerge into a brand trusted for its legendary quality initiatives.
Its penchant for quality has earned the brand many awards including the Banker Middle East Product Award, Dubai Quality Award, Sheikh Khalifa Excellence Award, Sheikh Mohammed bin Rashid Al Maktoum Business Award, Dubai Human Development Appreciation Programme, Dubai Service Excellence Scheme Award DSES, Best Partner by Emirates National Development Program ENDP, UAE Emiratisation Award,, Deutsche Bank STP Excellence Award, Customer Service Week Star Award in 2009 & 2011, ISO 9001 & 14001 certification and voted Superbrand status in 2009, 2010, 2011 and 2012 consecutively and more.
The first UAE Exchange branch in China was inaugurated last week, amidst much fanfare.
The occasion was graced with the august presence of the People's Bank of China (PBOC) Deputy Director for Balance of Payments, Mr. Lu Weixiomg, and other officials of the State Authority for Foreign Exchange, senior officials of the Bank of China, China Union Pay and UAE Exchange along with special invitees and the Media. Mr. Lu extemporaneously penned a poem to mark the significant occasion, adding to the atmosphere of celebration.

About UAE Exchange
UAE Exchange is a leading global remittance and exchange house based in UAE with, with direct ‎operations spanning 30 countries across five continents with over 600 direct offices. With ‎correspondent banking relationship covering more than 150 global banks, and associations with ‎many leading brands globally to bring several value-added products to customers, UAE ‎Exchange, acclaimed the world over as the ‘World’s Trusted Money Transferor provides ‎unmatched service in the industry to a wide customer base of around 3.5 million. In UAE, the ‎brand has a leading presence with a network of over 101 branches covering all the Emirates. In ‎October 2009, UAE Exchange commenced its 30th year of successful business operations.

Manager Media Relations
UAE Exchange Centre LLC
Al Saigh Building, Hamdan Street,
PO BOX 170, Abu Dhabi, UAE
Telephone: +971-2-4945480

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