GCC Exchange
TypeSimple Partnership Company
IndustryFinancial services
Founded2005 (2005)
FounderRajesh Himmatlal and Shaikh Mohammad Ibrahim Abdulaziz Al Mualla
Headquarters
Dubai
,
United Arab Emirates
ProductsRemittance
Money transfer
Foreign exchange
Bill payment
Online Money Transfer
Number of employees
500+ (2022)
Websitegccexchange.com

GCC Exchange is a global money transfer and foreign exchange company[1][2][3] that has an extensive presence in Europe, Africa, Oceania and Asia. Its headquarters are based in the UAE.[4][5][6][7][8]

History

In 2005, the organization was founded by Rajesh Himmatlal and Shaikh Mohammad Ibrahim Abdulaziz Al Mualla. In December 2006, GCC Exchange expanded its operations to include the work of remittance in its business sphere.[9] It expanded its services to Telex Transfers, the Real Time Account Transfer Facility with IMPS, Demand Drafts and Cash Home Delivery Services under remittance services. In the same month, the organization established its subsidiary in the United Kingdom and named it as GCC UK Exchange Ltd.

From 2007 to 2017, the company expanded its services from the GCC region to all over the globe, especially in Europe, Africa and Asia to become a leading money exchange company in the world.[10] As such in 2017, GCC Exchange achieved another milestone by being awarded the Financial Award Winner for the year as well as broadening its horizons by establishing its branch in Singapore. In 2018, GCC Exchange emerged as best exchange house on social media.[11][12]

Importance

  • GCC Exchange received the Fastest-Growing Remittance Award in 2017 in the UAE at the 5th Annual International Finance Awards Ceremony.[13][14][15]
  • It also received the Best Exchange House Award in Dubai at 2018[16]
  • GCC Exchange is also connected to all major banks of the world through Swift Accounting.[17]
  • It remits money to India many banks like Karur Vysya Bank connected to GCC Exchange.[18]
  • The company is tied up with Wynyard Group for anti-money-laundering systems in USE.[19]

Subsidiaries

  • GCC UK[20]
  • GCC Singapore
  • GCC Remit
  • GCC Exchange Private Ltd (Hong Kong)
  • GCC Exchange (Seychelles) (PTY) Limited
  • GCC Exchange (S) PTE Ltd
  • GCC Exchange (FIJI) Private Limited

References

  1. ↑ "GCC Exchange makes Money Transfers to India a step easier - Humari Baat - India's First Public Opinion Display Network". Humari Baat - India's First Public Opinion Display Network. 2018-10-02. Retrieved 2018-10-09.
  2. ↑ "GCC Exchange Wins Award for Fastest Growing Remittance Service Provider in the UAE - DUBAI FORUM". DUBAI FORUM. 2018-01-21. Retrieved 2018-10-09.
  3. ↑ NewsKarnataka. "Want to pay your VAT? Head to your nearest GCC Exchange branch today!". NewsKarnataka. Retrieved 2018-10-09.
  4. ↑ "MoneyGram sees robust growth opportunities in the GCC". Gulf News. Retrieved 2018-10-09.
  5. ↑ "GCC Exchange - Transfer Funds From Anywhere To India In Minutes Using Gcc Exchange : Get the Best Interest Rates on Deposits from the Best Indian Bank for NRI Deposits". www.tmb.in. Retrieved 2018-10-09.
  6. ↑ NewsKarnataka. "GCC Exchange wins Fastest Growing Remittance Service Provider in UAE title". NewsKarnataka. Retrieved 2018-10-09.
  7. ↑ "Currency Exchange & Money Transfer Company in UAE | GCC Exchange". www.gccexchange.com. Retrieved 2018-10-09.
  8. ↑ "Currency moves cause UAE expat workers to feel the pinch". The National. Retrieved 2018-10-09.
  9. ↑ "GCC Remit - Instant Money Transfer Services | Send & Receive Money". www.gccremit.com. Retrieved 2018-10-23.
  10. ↑ Pinto, Luiz (2018-02-19). "Sustaining the GCC currency pegs: The need for collaboration". Brookings. Retrieved 2023-06-16.
  11. ↑ "Best Exchange House on social media in UAE in 2018 is GCC Exchange". Retrieved 2018-11-05.
  12. ↑ "GCC Exchange hailed as Best Exchange House on Social Media in the UAE this 2018 - The Filipino Times". filipinotimes.net. Retrieved 2018-11-05.
  13. ↑ "GCC Exchange Wins Award for Fastest Growing Remittance Service Provider in the UAE". Al Bawaba. 2018-01-21. Retrieved 2018-10-10.
  14. ↑ "Financial Award Winners 2017 | International Finance Awards". International Finance Awards. Retrieved 2018-10-10.
  15. ↑ "Best Exchange House on social media in UAE in 2018 is GCC Exchange". Retrieved 2018-10-25.
  16. ↑ "Dubai: GCC Exchange earns 'Best Exchange House On Social Media'". Retrieved 2018-10-25.
  17. ↑ "Transfer money to the Philippines at pocket-friendly prices - The Filipino Times". filipinotimes.net. Retrieved 2018-10-10.
  18. ↑ "KVB ties up with Lulu International, GCC Exchange". The Hindu. 2013-05-08. ISSN 0971-751X. Retrieved 2018-10-12.
  19. ↑ "GCC Exchange signs Anti-Money Laundering SaaS Contract with Wynyard". TahawulTech.com. 2014-01-08. Retrieved 2018-10-22.
  20. ↑ "GCC EXCHANGE UK LIMITED - Overview (free company information from Companies House)". beta.companieshouse.gov.uk. Retrieved 2018-10-22.
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