The Foreign Exchange & Remittance Group (FERG) has completed 6 years and in this short span, achieved the 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 the UAE and the outside world. 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 economical 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.
One of the main goals of FERG is to ensure that our members strictly abide by regulations of Central Bank of the UAE and other major international organizations to fight money laundering and suspicious funding activities and implement best AML practices. Our regular AML Workshops are equipping the staff of our members with the skills required to identify the threats and challenges and manage risk.
FERG endeavors to work for the benefit of the Exchange Industry in the UAE by ensuring a conducive business environment that helps them grow and flourish within the legal and regulatory framework and make significant contribution to the economy of the UAE. It is our vision to make UAE the leader in the exchange and remittance business with the support and guidance of the Central Bank and Government of UAE.
Thank you for visiting the website of FERG & best regards