• Memberships

Greetings from Foreign Exchange & Remittance Group (FERG) .

The Foreign Exchange & Remittance Group (FERG) is active for over 6 years and has earned the reputation of being the representative body and voice of the Money Exchange Industry in the UAE, the recognition is from both the local and international regulators and financial authorities. Realizing the potential that a united and strong body has, in lobbying and representing the industry, Exchange Companies in the Region are looking to emulate the FERG model in their respective countries. This is a forum formed for the benefit of all exchange companies in the UAE. The stronger and united we are, the more recognition and power shall accrue to the Group.It is time that all exchange companies in the UAE understand this and join FERG for their individual benefit, as well as the benefit of the entire exchange industry.

The Foreign Exchange & Remittance Group (FERG) is now 6 years old and has earned the distinction of being the representative body and voice of the Exchange Industry in the UAE both locally and internationally by regulatory and financial authorities. Realizing the potential that a united and strong body has in lobbying and representing the industry, Exchange Companies in the Region are looking to emulate the FERG model in their respective countries. This is a forum formed for the benefit of all exchange companies in the UAE. The stronger and united we are, the more recognition and power shall accrue to our Group. It is time that all exchange companies in the UAE understand this and join FERG for their individual benefit, as well as the benefit of the entire exchange industry.

FERG has been recognized as one of the most active business groups by Dubai Chamber! Currently, FERG has 61 members – from large sized ones - some with over 100 branches to single branch outlets.

FERG is a neutral, non-profit body working for the common interests of all members. It is a platform for all members to voice their views and concerns and aims to provide them a conducive and attractive business environment by maintaining constant liaison with Government and other bodies. It also keeps the members informed of the industry trends, developments and market situations.

One of the important objectives of FERG is to help the members build a strong AML framework by holding regular AML trainings and meetings with the support of the Central Bank. FERG had held 27 AML Workshops so far and trained 1000+ staff members and the trainings are carried out in both English & Arabic. FERG also propose to start workshops for Cashiers on cash handling process and in risk and fraud related areas. The regular updates on frauds, attempts, fake note circulation, etc. have benefited not only the members but also all the service providers with in the industry which facilitated everyone in taking timely preventive measures and avert similar incidents at their locations.

COME, JOIN AND BE A PART OF A STRONG, UNITED AND VIBRANT GROUP….FERG

To become a member of FERG please send an enquiry email to shamil.kp@ferguae.org