The store opening in Satwa area is in accord with the growing expat communities that are highly populated by the top 3 remitting countries – Philippines, India and Pakistan
Dubai (Pakistan Point News - 14th October, 2019) Wall Street Exchange (WSE), one of the oldest and most trusted remittance and exchange centres in the UAE, expands its operations with a new store in Satwa in Dubai to cater to the ever-growing UAE-expat community and serve its customers to provide utmost convenience of services.
In line with the Year of Tolerance, Wall Street Exchange with its expansion plan, succeeds to offer the best of experience to its customers.
The store opening in Satwa area is in accord with the growing expat communities that are highly populated by the top 3 remitting countries – India, Pakistan and the Philippines. This store is ideally located within Satwa Plaza which is behind the Iranian hospital and within the walking distance from the bus stop in Satwa. The Satwa Plaza store will be the 3rd store in the same vicinity to better service its increasing customers – other stores in Satwa area are situated in Al Maya Lal’s Super Market and Al Bada Area (opposite Al Fakhri Centre).
The 2019 World Bank Report states that UAE’s population has reached a total of 9.68 million of which 80 percent are from expat community – with more than 200 nationalities harmoniously living and working in the country. The higher expat population leads to an increased remittance. According to the figures release by the Central Bank of United Arab Emirates, the expat remittances from the UAE amounted to Dh80.96 billion recorded within the first half of 2019.
The report also showed that the top remitting countries are India, Pakistan, and the Philippines. The Indians topped the list with 37.2 percent of the total remittances recorded on the first quarter that was Dh15.8 billion of the total, followed by Pakistanis with 10.5 percent (Dh4.4 billion), and Filipinos (Dh3 billion) ranked third with 7.2 percent followed by Egyptians with 6.3 percent (Dh2.7 billion).
The report also mentions that a total of 33.
046 billion were transferred through money exchange companies and rest from the banks operating in the country
The remittance and exchange center offers a wide range of fast, safe and secure financial products that involve local and international money transfer, foreign currency exchange, and payment transactions. The expats living in the UAE every month transfer a certain amount to their home country for their family maintenance, investments or as savings.
Remitting money to home country is attached to an individual’s sentiment. WSE aims to fulfil these sentiments by ensuring convenience, hassle free services, ease of interaction and a comfortable customer experience.
Satwa, a place in Dubai near Burdubai area is largely populated by communities from South and South Asian countries. And to create an environment that allows you ease in services over the counter, WSE pays attention to these details to convert them into unique services for a better customer experience and is expanding its reach through the facilitation of the financial transactions which includes currency exchange, money transfer, and payments.
