GCC Exchange explained

GCC Exchange
Type:	Simple Partnership Company
Founder:	Rajesh Himmatlal and Shaikh Mohammad Ibrahim Abdulaziz Al Mualla
Location City:	Dubai
Location Country:	United Arab Emirates
Industry:	Financial services
Products:	Remittance Money transfer Foreign exchange Bill payment Online Money Transfer
Num Employees:	500+ (2022)

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

Notes and References

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