UAE Exchange

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UAE Exchange Centre LLCI
Limited Liability Company
IndustryFinancial Services
Founded1980 (1980)
FounderB. R Shetty (Ind) and Abdulla Humaid Al Mazroei
Key people
Bavaguthu Raghuram Shetty (Chairman)
Sudhir Shetty [1] (President)
Promoth Manghat (CEO)
Money transfer
Foreign Exchange
Bill Payment
Number of employees
9000+ (2015)

UAE Exchange (Arabic: مركز الإمارات العربية المتحدة للصرافة‎) is a United Arab Emirates based company dealing primarily in remittances, foreign exchange and bill payment solutions. The company is headquartered in Abu Dhabi, UAE, and operates through 800 offices[1] across 31 countries.

UAE Exchange has more than 9,000[2] employees in over 40 countries.[3] It is one of the largest remittance companies and has extensive network in the middle east and Asia with particular emphasis on India where over 40% of its offices and staff are located.



As part of its global rebranding exercise UAE Exchange a leading global money transfer, foreign exchange, payments and credit solutions brand has rebranded its India operations to the name Unimoni [4]


UAE Exchange was founded in 1980 in Abu Dhabi by business man B R Shetty and former United Arab Emirates Minister of Justice HE Abdulla Humaid Ali Al-Mazroei. It had expanded to over 800 offices worldwide by 2014.

In 1993 UAE Exchange became a SWIFT member and the following two years opened operations in Oman and Kuwait, as well as launching an express transfer, gold card and bank notes service. In 1999 it launched retail operations in India, which was to become the largest operation outside its home base, with 330 branches by 2015. It opened offices in Bangladesh, the UK and Sri Lanka in the following three years. In 2001 it launched Xpress Money, an instant money transfer service in the UK. By 2003, it added Australia to its network.

In 2003 it launched services for the corporate sector; in 2004 it introduced a web-based money transfer process. Between 2005 and 2009 it opened offices in Hong Kong, Uganda, Jordan, Canada, New Zealand and China, as well as purchasing Moneydart Global Services in the United States. It also launched an online money transfer portal, XPay; the bill payment solution using mobile phone was also brought out in India.[5]

In 2009 it became an Authorized Payment Institution (API) with the UK financial regulator Financial Services Authority, which became the Financial Conduct Authority in 2013.[6]

In 2018, UAE Exchange commenced a global re-branding of itself to 'Unimoni' starting with its retail presence in India,[7] Fiji, Canada and Australia.

In October 2018, UAE Exchange partnered with OOREDOO.[8]

In March 2019, Y Sudhir Kumar Shetty, president of UAE Exchange left UAE for good. He was a leading figure in the field of finance and global remittance. He was the president of UAE Exchange. Prior to that, he served as the chief operating officer (COO) of global operations of UAE Exchange Centre LLC. He has been leading the UAE Exchange global operations since 1991. Bearys Welfare Forum, Abu Dhabi in association with Indian Islamic Centre, Abu Dhabi and other social organisations bid farewell to Y Sudhir Kumar Shetty.[2]

Associated companies and subsidiaries[edit]

  • New Medical Centre (NMC) Group
  • UAE Exchange & Financial Services, in India with over 330 offices
  • UAE Exchange Australia Pty Ltd
  • UAE Exchange Centre Bahrain Co WLL
  • UAE Exchange Centre LLC, Liaison Office
  • UAE Exchange Canada Pty Ltd
  • UAE Exchange China Liaison Office
  • UAE Exchange Fiji Pty Ltd
  • UAE Exchange Hong Kong Limited
  • UAE Exchange Centre LLC, Liaison Office, India
  • UAE Exchange Centre LLC, Liaison Office, Indonesia
  • Jordan UAE Exchange LLC Co
  • UAE Exchange Centre WLL, Kuwait
  • Kuwait National Exchange Co
  • UAE Exchange New Zealand Pty Ltd
  • Oman & UAE Exchange Centre Co LLC
  • UAE Exchange Centre LLC, Liaison Office, Pakistan
  • UAE Exchange Centre LLC, Liaison Office, Philippines
  • Qatar- UAE Exchange Establishment
  • UAE Exchange Centre LLC, Liaison Office, Sri Lanka
  • UAE Exchange Centre LLC, Sudan
  • UAE Exchange Uganda Limited
  • UAE Exchange Centre LLC, UAE
  • UAE Exchange Centre LLC, UK
  • MoneyDart Global Services, Inc, USA
  • Nyuvo, India
  • UAE Exchange & Finance Ltd, India
  • XM Software Solutions private Ltd
  • XM Services Ltd


  1. ^ "Our history". UAE Exchange. Retrieved 2018-09-11.
  2. ^ "Awards". UAE Exchange. Retrieved 2018-09-11.
  3. ^ "Sending Money To Africa Gets Easier".
  4. ^
  5. ^ "Research - Global Labor Markets (GLM)". Global Labor Markets (GLM). Retrieved 2018-09-11.
  6. ^ "Six-currency card gives travellers more freedom". The National. Retrieved 2018-09-11.
  7. ^ "UAE Exchange (India) is now Unimoni". UAE Exchange Press Release. Retrieved 2018-09-28.
  8. ^ Newspaper, Muscat Daily. "Oman UAE Exchange partners with Ooredoo - Oman". Muscat Daily News. Retrieved 2018-10-22.