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Dubai, UAE: In line with ongoing efforts to provide uncompromising and modernized services to enhance customer experience, Al Fardan Exchange L.L.C announces the launch of a new bank note division, a first-of-its-kind in the market, which will serve as a means to seamlessly move money around worldwide.
Strategically located in Deira, Dubai, the novel bank note division is fully equipped with state-of-the-art currency and value counting machines, which operate three times faster than traditional systems and are designed to recognize all currency types. Al Fardan Exchange is one of the highest international bank notes clearer in the region, and the highest in the UAE.
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UAE remittances set for big increase during Ramadan 2021
Waheed Abbas/Dubai
UAE remittances to India, Pakistan likely to see a double-digit growth
Remittances from the UAE will increase substantially during Ramadan, especially on the digital front, according to officials of the foreign exchange and remittance sector.
They believe that the weakening of the Indian rupee, which hit an eight-month low against the dirham, will also play a key role in the growth of remittances during the Holy month.
Usually, remittances from the UAE, particularly those being sent to Islamic countries, increase during Ramadan and the holiday seasons.
“We’ll see this trend continue this year. The indicators are pointing towards positive and robust remittance activities. The transactions are expected to peak in the week ahead of Eid-Al-Fitr, when residents start transferring money to their families and loved ones in their home countries. We forecast the growth trend during Ramadan and Eid Al-Fitr t
Ms Pentio Tubo has been overwhelmed by the support from the public. We are over the moon. I couldn t believe it when I found out the bill had been paid, she said. My husband and I were crying tears of joy when we found out. It is amazing that people were able to help us. We didn t expect it at all.
She said other members of the community had also helped the couple by donating groceries and clothing.
Mr Al Fardan said he was delighted to have the opportunity to help a family in need. The most enlightening experience is that of giving back to the communities we serve and kindness is a language that the Al Fardan family understands, he said.