One of the most prolific outbound UAE investors, UAE Exchange Center is now part of the same network as Travelex, following the latter’s acquisition by well-known UAE entrepreneur BR Shetty at the end of 2016.
UAE Exchange Center (operating under its brand name Money2Anywhere) is one of the largest exchange and remittances companies in the country with over 120 branches across the seven emirates alone. More recently the company has focused on expanding its network overseas and in 2014 was the largest outbound investor company from the UAE. It has set up entities and branches across Asia, North America, Africa and the Middle East, with key markets in the latter including Morocco and Kuwait.
Although the company was recently restructured, and the composition of its board changed, founder BR Shetty retains overall management control. Shetty’s business interests include pharmaceuticals, healthcare, foreign exchange, restaurants, real estate and schools, amongst others.