Visa Instalment Solution conveniently convert purchases into Easy Instalment Plans (EIP) directly from the point-of-sale (POS) terminal.
Al Ansari Financial Services has announced its intention to float on Dubai Financial Market.
Al Ansari Financial Services is one of the leading integrated financial service groups in the UAE with over 56 years of experience in enabling the mobility of money locally and globally.
Al Ansari Exchange, CashTrans, Worldwide Cash Express, Al Ansari Digital Pay (under incorporation) and Al Ansari Exchange Kuwait (currently under acquisition by the Group) are all subsidiaries of Al Ansari Financial Services and together, create a specialised ecosystem that enables the mobility of money swiftly, seamlessly and securely within the UAE and globally.
Integrated offering enabling the swift, seamless and secure mobility of money. The Group offers cross-border payments services, foreign exchange solutions, access to the UAE's Wage Protection System ("WPS"), bill collection and pre-paid cards services, as well as, end-to-end cash management solutions to retail and corporate customers.
Market dominance in home market. The leading outward personal remittances market player in the UAE, capturing 38%1 of the exchange house outward personal remittance market and handling 2.6% of global outward personal remittances in 2021. Major player in the UAE’s retail foreign currency exchange market with 35% market share in 2021.
Unparalleled reach. 2312 physical branches strategically located across the UAE, the largest physical branch network in the UAE and more than double the second player in the market.
Innovative and proprietary digital capabilities. State-of-the-art technology suite integrated across multiple customer touchpoints offering a seamless omnichannel customer experience, with a 99.96%3 system availability rate. Top-rated App (#1 by Forbes in GCC in 2021) allowing it to capture the largest share of digital outward personal remittances among exchange houses (c. 41% in 2021).
Extensive global network reach. 131 correspondent banks and 137 agents present in 45 countries4 support Group’s cross border operations.
Strong increase in operating income. Reported AED 1.2 billion in 2022 vs. AED 988 million in 2021, and AED 831 million in 2020 (CAGR of 17.8% between 2020 and 2022), supported by strong growth across all offerings.
Sustained cash flow. Strong cash flow with an average cash conversion rate of 96% (2020 – 2022); well poised to support a target minimum dividend distribution of AED 600 million for FY 2023 and a minimum dividend pay-out of 70% of net profit thereafter.
Clear growth strategy. Focusing on expansion of physical branch network in the UAE and across the GCC, continued investment in digital capabilities, increasing margins, and unlocking additional opportunities in the corporate remittances and end-to-end cash management markets.
Led by a seasoned and independent management team. 75 years of collective industry experience, capable of delivering on growth plans and driving further success after IPO.
(1) As at 31 December 2021, according to Edgar, Dunn and Company Report, (2) As at 31 December 2022, (3) As at 31 December 2022, (4) As at 31 December 2022,
Price Range Announcement and Start of Retail Investor Subscription
Close of Retail Investor Subscription
Announcement of Final Offer Price
Notification on Final Allocation for Retail Investors
Refunds of Surplus Subscriptions
Disclaimer:This announcement has not been approved by the Securities and Commodities Authority (“SCA”) or any regulator in the UAE or elsewhere and does not form part of the prospectus. This announcement or any related advertisements does not fall under SCA’s remit or jurisdiction
Terms and conditions apply.
