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Home›Money Exchange›Forbes reveals the Middle East’s Best Exchange Houses

Forbes reveals the Middle East’s Best Exchange Houses

By Money Exchange
October 5, 2020
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op Exchange Houses In The Middle East

Forbes Middle East’s list of the top exchange houses in the region has been revealed, with Al Ansari and LuLu Exchange bagging top honors. The methodology used for the listing, includes average monthly remittances, number of branches, services offered, geographical expansion, and recent innovations, among others.

The companies on the list represent six countries across the Middle East and some of them have expanded and opened offices or branches in foreign countries. The listed exchange houses help a large section of the labor force in the region, many of whom do not have bank accounts in either the Middle East or their home countries. To view the complete list click on the below links:

Other prominent exchange houses in the list include Bahrain Financing Company, Al Fardan Exchange, and Al Mulla International Exchange.

Home to over 300 exchange houses, the Middle East is a hub of the migrant economy, with the top five economies alone contributing to over $100 billion of remittance outflows last year. Exchange houses have traditionally played a huge role in supporting the need of expats to send money home, by offering a better exchange rate than banks, and through qualitative services made possible by the presence of kiosks and branches in malls and tourist destinations.

Apart from traditional services, some of the exchange houses on the list also offer value-added services such as payroll services, travel cards, and other financial products.

Full List of Top Exchange Houses In The Middle East

ImageRankExchangeCountryEstablishmentNumber of branches
1Al Ansari ExchangeUAE1966200
2Lulu ExchangeUAE2008220
3BFC Group HoldingsBahrain1917130
4Al Fardan ExchangeUAE197167
5Al Mulla International Exchange Co.Kuwait2001115
6Joy Alukkas ExchangeUAE200656
7Al Rostamani ExchangeUAE197931
8Almuzaini Exchange CompanyKuwait1942105
9Orient ExchangeUAE192327
10Al Ghurair ExchangeUAE197629
11Alawneh ExchangeJordan196639
12Wall Street ExchangeUAE198227
13Sharaf ExchangeUAE199632
14Alfardan ExchangeQatar197110
15Global Money Exchange Co.Oman200253
16Abu Sheikha ExchangeJordan199417
17Hamdan ExchangeOman199026
18GCC ExchangeUAE200210
19Purshottam Kanji Exchange CoOman198321
20National Finance & Exchange Co.Bahrain200138

English: https://www.forbesmiddleeast.com/list/exchange-houses-in-the-middle-east

Arabic: https://www.forbesmiddleeast.com/ar/list/exchange-houses-in-the-middle-east-arabic

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