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HISTORY & BACKGROUND

Foreign Exchange and Remittance Group [FERG] is a non-profit organization formed based on the initiative of the Central Bank of UAE. The FERG comprises of companies engaged in the business of money exchange and remittances from large sized companies with over 100 branches, to single branch outlets to come on a common platform and work towards mutual benefit.

The initiative to form the Foreign Exchange & Remittance Group (FERG) started in the year 2003, wherein, some of the large and leading exchange companies decided to come together and hold regular meetings to discuss current market situations, opportunities and threats facing the exchange industry. This initiative gained momentum with the Central Bank Governor calling a meeting of all leading exchange

CHAIRMAN’S
MESSAGE

Mr. Mohammed Al Ansari

The Foreign Exchange & Remittance Group (FERG) has existed for over nine years and in its short span, achieved a distinction of being recognized as the voice of the exchange industry. FERG has been successful in highlighting the contributions made by the exchange industry both within UAE and worldwide. Today, regulators, government bodies, banks and institutions both within the UAE and globally, acknowledge the vital role played by the exchange companies in transferring millions of dollars across the world through official channels, in a safe, secure and cost-effective way.

Exchange companies are licensed and regulated by the Central Bank of the UAE and cater to the financial needs of both the multi-national resident community in the UAE, as well as the millions of tourists visiting this beautiful Country.

Mr. Osama Al Rahma

OFFICE BEARERS

Mr. Osama Al Rahma Chairman

Mr. Osama Al Rahma is one of the founding member of FERG. He has occupied the roles of Chairman & Vice Chairman of FERG. He has an experience in the remittanc
Rashed A. Al Ansari Vice Chairman

Rashed A. Al Ansari is currently the Group Chief Executive Office and a member of the board of directors of Al Ansari Financial Services P.J.S.C. a publicly listed company
Mr. Rajiv. Raipancholia Treasurer

Rajiv Ashok Raipancholia is the young and dynamic Director of Orient Exchange Co., a family-run exchange company operating in the UAE since 1923. After completing
Mr. Syed Abdus Salam Secretary

With over 30 years of experience in the foreign exchange and remittance industry, Syed Abdus Salam is a highly accomplished executive known for his strategic leadership, op
Mr. Malaz Mubaid Joint Treasurer

Mr. Malaz Mubaid is the Chief Operating Officer and Acting Chief Executive Officer of Wall Street Exchange, bringing 20 years of experience in the remittance industry. His