Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


September 02, 2015 12:42 AM ET

Consumer Finance

Company Overview of UAE Exchange Centre LLC

Company Overview

UAE Exchange Centre LLC provides global remittance and foreign exchange services. It offers retail services, such as bill payment, wealth management, mobile phone products, travel and tours, prepaid cards, account opening, and loyalty programs. The company also provides corporate services, such as payroll, corporate cash collection, and corporate cash payout services. UAE Exchange Centre LLC was founded in 1980 and is based in Abu Dhabi, United Arab Emirates.

Level 02

Al Sayegh Centre

Sh. Hamdan Street

PO Box 170

Abu Dhabi,  

United Arab Emirates

Founded in 1980

Phone:

971 2 610 5555

Fax:

971 2 632 1767

Key Executives for UAE Exchange Centre LLC

Chief Executive Officer
Age: 39
President
Age: 56
Co-Founder and Chairman of the Board
Age: 72
Co-Founder and Director
Chief Financial Officer
Compensation as of Fiscal Year 2015.

UAE Exchange Centre LLC Key Developments

UAE Exchange Announces Management Appointments

UAE Exchange announced that it has named a new chief executive and changes to its board on August 24, 2015. Deputy Chief Executive Promoth Manghat has been promoted to chief executive. Bavaguthu Raghuram Shetty, who founded the company, has been appointed chairman of the board. Nabeel Abdul Rahman, chief executive and vice-chairman of KBBO Group, was named vice-chairman.

Travelex To Merge With UAE Exchange And List

Travelex Holdings Limited will merge with UAE Exchange Centre LLC and will be listed in Abu Dhabi by early on in 2017, according to Bavaguthu Raghuram Shetty, Founder and Chairman of UAE Exchange. Shetty said, "UAE Exchange is into remittances and Travelex is forex, their targets are different. We see exponential growth going forward. We have plans to merge the two entities to expand, to grow the business." and added that a public share offer in Abu Dhabi was also part of the plan. Shetty further added that details about the percentage of shares to be offered to the public are yet to be finalized. N M Rothschild & Sons Limited acted as financial advisor for the deal.

UAE Exchange Plans IPO

UAE Exchange Centre LLC is aiming to list on the Nasdaq stock market in New York in two years. “In two years’ time we will expand enough,” BR Shetty, Chief Executive said. “We will be in 56 countries in two years’ time.” “We will do the valuation and everything later,” Shetty added.

Similar Private Companies By Industry

Company Name Region
Al Razouki International Exchange Co. L.L.C. Middle East/Africa
Gulf Finance Corporation PJSC Middle East/Africa
HAYATI Commercial Brokers LLC Middle East/Africa
Al Rostamani International Exchange Middle East/Africa
Dunia Finance LLC Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact UAE Exchange Centre LLC, please visit www.uaeexchange.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.