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622:, of which UAE Exchange is a part, announced that the division had been placed under the supervision of the Central Bank of the UAE with immediate effect. The Central Bank of the UAE also stated that it had commenced an examination of the UAE Exchange in order to verify its compliance with applicable laws and regulations.
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On 16 March 2020, UAE Exchange suspended all new transactions citing "certain operational challenges" in an emailed statement. Although the statement issued by the business fails to mention it directly, the challenges referenced likely pertain to the near-collapse of its parent
637:"Xpress Money Services Limited must cease carrying on all the payment services activities for which it has previously been authorised by the FCA, except to the extent as agreed with the FCA. The firm may only carry out payment service activities."
595:
as it announced it was in danger of collapse having identified circa $ 100m (£81m) of undisclosed financing, which meant it no longer had any certainty over its financial position. Simultaneously, Promoth
Manghat, Group
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left the business. The business also stated that it was no longer able to provide certain payment processing services, however, failed to address what services this entailed. Administrator
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In March 2019 Sudhir Shetty left the business. Prior to his role as president of the business which he had held since 1991, he had served as its chief operating officer.
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500:. The business also launched an online money transfer brand, Money2anywhere.com. XPay; a mobile bill payment application was also purchased in India.
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The business has circa 9,000 employees across 40 countries. It is one of the largest remittance companies and has an extensive network in the
611:, of which UAE Exchange is a part, announced that it has engaged an accountancy firm to undertake rapid contingency planning for a potential
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660:. The consortium said that they planned to restructure the group to provide the subsidiaries, including UAE Exchange with working capital.
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was acquired by Prism Group AG and Royal
Strategic Partners, the Abu Dhabi investment vehicle associated with
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530:" at locations outside of the United Arab Emirates. This initially started with its retail presence in
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During June 2020, Xpress Money, a group business, had its authorisation to operate withdrawn by the
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In 2018, UAE Exchange started to change its brand to “Unimoni” in locations outside the
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1267:"Suspension of Listing, Trading Update, Directorate Change and Urgent Board Measures"
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In 2009 it became an
Authorised Payment Institution with the UK financial regulator
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to its network, and it also launched services for the corporate (B2B) sector.
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began co-branding businesses within its estate which included UAE Exchange.
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was appointed to carry out an independent investigation into its finances.
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1361:"Xpress Money Services Limited must not carry out any regulated activity"
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In
October 2018, UAE Exchange partnered with telecommunications company
554:, as well as further afield have also since been re-branded as Unimoni.
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1075:"UAE Exchange Rebrands as 'Unimoni' in Hong Kong | Business Wire"
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UAE Exchange & Financial
Services, in India with over 330 offices
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1100:"UAE Exchange Rebrands as Unimoni in Tanzania | Business Wire"
1050:"UAE Exchange (India) is now Unimoni | Business Standard News"
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In 2001, it launched Xpress Money, a money transfer service in the
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1238:"Travelex owner Finablr in danger of collapse as shares suspended"
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1310:"Finablr on the brink of collapse as it appoints insolvency firm"
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1155:"Bearys Welfare Forum accords warm farewell to Sudhir Shetty"
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member and over the following two years opened operations in
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UAE Exchange established its first branch and operations in
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Scandal-Hit
Finablr Sold for $ 1 to Israeli-UAE Consortium
591:, of which UAE Exchange is a part, was suspended from the
455:. Xpress Money was later extracted into the wider group.
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Financial services companies of the United Arab
Emirates
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where over 40% of its offices and staff are located.
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UAE Exchange Centre LLC, Liaison Office, Philippines
1209:"Finablr in danger of collapse as shares suspended"
53:. Unsourced material may be challenged and removed.
721:UAE Exchange Centre LLC, Liaison Office, Sri Lanka
697:UAE Exchange Centre LLC, Liaison Office, Indonesia
1335:"UAE Central Bank to oversee UAE Exchange Centre"
992:"Six-currency card gives travellers more freedom"
913:"UAE Exchange Rebrands as 'Unimoni' in Hong Kong"
712:UAE Exchange Centre LLC, Liaison Office, Pakistan
372:. This initially started with retail presence in
319:Markaz Al'Imarat Alearabiat Almutahidat Lilsarafa
1392:
1126:"Oman UAE Exchange partners with Ooredoo - Oman"
396:, as well as others, have been renamed Unimoni.
465:In 2004, it introduced online money transfers.
938:"UAE Exchange Rebrands as Unimoni in Tanzania"
694:UAE Exchange Centre LLC, Liaison Office, India
648:In December 2020 UAE Exchange's parent group,
865:. UAE Exchange Press Release. Archived from
656:, brother of the Crown Prince of Abu Dhabi,
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468:Between 2005 and 2009 it opened offices in
1363:. Financial Conduct Authority. 1 June 2020
1285:"Finablr potential insolvency appointment"
337:services. The company is headquartered in
134:
113:Learn how and when to remove this message
963:"Research - Global Labour Markets (GLM)"
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679:UAE Exchange Centre LLC, Liaison Office
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363:
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1416:Emirati companies established in 1980
1180:"UAE Exchange halts new transactions"
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1021:"UAE Exchange (India) is now Unimoni"
888:"UAE Exchange (India) is now Unimoni"
863:"UAE Exchange (India) is now Unimoni"
742:UAE Exchange & Finance Ltd, India
709:Oman & UAE Exchange Centre Co LLC
316:مركز الإمارات العربية المتحدة للصرافة
1298:– via londonstockexchange.com.
654:Hazza bin Zayed bin Sultan Al Nahyan
325:-based company dealing primarily in
51:adding citations to reliable sources
22:
915:. December 22, 2019. Archived from
736:MoneyDart Global Services, Inc, USA
315:
13:
1341:from the original on 18 March 2020
940:. February 4, 2020. Archived from
676:UAE Exchange Centre Bahrain Co WLL
14:
1427:
745:XM Software Solutions private Ltd
718:Qatar- UAE Exchange Establishment
685:UAE Exchange China Liaison Office
890:. August 7, 2018. Archived from
706:UAE Exchange New Zealand Pty Ltd
526:In 2018, began re-branding to "
448:over the following three years.
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1291:from the original on 2020-03-17
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1161:from the original on 2019-03-23
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1106:from the original on 2020-02-05
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1081:from the original on 2019-12-24
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1056:from the original on 2019-05-24
1042:
1031:from the original on 2018-09-28
1002:from the original on 2017-06-27
973:from the original on 2018-09-11
844:from the original on 2020-01-16
815:from the original on 2020-03-18
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420:In 1993, UAE Exchange became a
38:needs additional citations for
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724:UAE Exchange Centre LLC, Sudan
691:UAE Exchange Hong Kong Limited
673:UAE Exchange Australia Pty Ltd
388:. Since then, markets such as
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1384:Tom Metcalf, 17 December 2020
790:
1337:. Gulf News. 18 March 2020.
730:UAE Exchange Centre LLC, UAE
658:Mohammed bin Zayed Al Nahyan
505:Financial Services Authority
458:In 2003, the business added
356:with particular emphasis on
7:
1323:– via standard.co.uk.
967:Global Labour Markets (GLM)
753:
733:UAE Exchange Centre LLC, UK
727:UAE Exchange Uganda Limited
703:Kuwait National Exchange Co
682:UAE Exchange Canada Pty Ltd
631:Financial Conduct Authority
509:Financial Conduct Authority
168:; 44 years ago
16:For the metro station, see
10:
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1401:Foreign exchange companies
1025:UAE Exchange Press Release
700:Jordan UAE Exchange LLC Co
399:
18:UAE Exchange (Dubai Metro)
15:
1411:Banks established in 1980
1124:Newspaper, Muscat Daily.
688:UAE Exchange Fiji Pty Ltd
515:International re-branding
494:MoneyDart Global Services
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568:Finablr and its collapse
507:(which later became the
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1271:londonstockexchange.com
584:earlier that same day.
775:Hayel Saeed Anam Group
770:Majid Al Futtaim Group
639:
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780:Century Financial LLC
760:Saif Ahmad Al Ghurair
635:
593:London Stock Exchange
522:
405:Foundation and growth
644:2020 - New ownership
364:International brands
323:United Arab Emirates
47:improve this article
229:Number of employees
130:
618:On 18 March 2020,
607:On 17 March 2020,
587:On 16 March 2020,
546:. Markets such as
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417:in the year 1980.
157:Financial services
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944:on 2020-02-05
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919:on 2019-12-24
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894:on 2019-05-24
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869:on 2018-09-28
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805:"Our history"
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64: –
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58:Find sources:
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36:This article
34:
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25:
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19:
1377:
1365:. Retrieved
1355:
1343:. Retrieved
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1293:. Retrieved
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1250:. Retrieved
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1192:. Retrieved
1184:gulfnews.com
1183:
1174:
1163:. Retrieved
1149:
1138:. Retrieved
1129:
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1108:. Retrieved
1094:
1083:. Retrieved
1069:
1058:. Retrieved
1044:
1033:. Retrieved
1024:
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1004:. Retrieved
996:The National
995:
986:
975:. Retrieved
966:
957:
946:. Retrieved
942:the original
932:
921:. Retrieved
917:the original
907:
896:. Retrieved
892:the original
882:
871:. Retrieved
867:the original
857:
846:. Retrieved
838:UAE Exchange
837:
834:"Who we are"
828:
817:. Retrieved
809:UAE Exchange
808:
799:
739:Nyuvo, India
664:Subsidiaries
647:
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335:bill payment
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308:UAE Exchange
307:
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285:.uaeexchange
254:Subsidiaries
181:Headquarters
143:Company type
129:UAE Exchange
109:
100:
90:
83:
76:
69:
57:
45:Please help
40:verification
37:
765:Emaar Group
486:New Zealand
350:Middle East
1395:Categories
1320:2020-03-17
1295:2020-03-17
1252:2020-03-16
1242:cityam.com
1223:2020-03-16
1213:cityam.com
1194:2020-03-16
1165:2019-03-25
1140:2018-10-22
1110:2020-02-05
1085:2020-01-08
1060:2020-03-16
1035:2018-09-28
1006:2018-09-11
977:2018-09-11
948:2020-02-05
923:2020-01-08
898:2020-03-16
873:2018-09-28
848:2018-09-11
819:2018-09-11
791:References
613:insolvency
438:Bangladesh
327:remittance
204:Remittance
73:newspapers
572:Mid 2019
548:Hong Kong
544:Australia
470:Hong Kong
460:Australia
446:Sri Lanka
411:Abu Dhabi
390:Hong Kong
386:Australia
339:Abu Dhabi
264:Smart Pay
185:Abu Dhabi
103:June 2023
1345:18 March
1339:Archived
1314:Archived
1289:Archived
1246:Archived
1217:Archived
1188:Archived
1159:Archived
1134:Archived
1104:Archived
1079:Archived
1054:Archived
1029:Archived
1000:Archived
971:Archived
842:Archived
813:Archived
754:See also
552:Tanzania
394:Tanzania
297:.unimoni
197:Products
153:Industry
147:Division
650:Finablr
620:Finablr
609:Finablr
589:Finablr
582:Finablr
574:Finablr
559:Ooredoo
528:Unimoni
496:in the
400:History
321:) is a
278:Website
267:Unimoni
247:Finablr
171: (
163:Founded
87:scholar
1367:3 July
540:Canada
488:, and
482:Canada
478:Jordan
474:Uganda
444:, and
440:, the
430:Kuwait
384:, and
382:Canada
312:Arabic
270:GoCash
242:Parent
235:(2015)
233:9,000
89:
82:
75:
68:
60:
602:Kroll
532:India
490:China
434:India
422:SWIFT
374:India
358:India
94:JSTOR
80:books
1369:2020
1347:2020
550:and
542:and
536:Fiji
428:and
426:Oman
392:and
378:Fiji
354:Asia
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