UAE Exchange Suspends New Transactions

UAE Exchange halts transactions over 'operational challenges'
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UAE Exchange, a leading remittance and foreign exchange brand based in Abu Dhabi have decided to temporarily suspend any new transactions at all of its branches and its online platforms.

“Due to certain operational challenges, we have temporarily suspended acceptance of any new transactions at UAE Exchange branches and via our online channels,” a report quoted UAE Exchange as saying in an emailed statement.

Owned by the UAE-based billionaire Dr BR Shetty and a subsidiary of London-listed Finablr, UAE Exchange said its customer service touchpoints, as well as its branches, will remain open to support and attend to any queries customers may have.

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“We are currently focused on processing all existing transactions as quickly as possible,” the UIAE Exchange company added while apologizing to its customers for any inconvenience caused. The news of temporary halting transactions comes soon after Finablr announced “temporary suspension of trading on the London Stock Exchange.”


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