UAE: Remittance Delay Issues 'Fully Resolved' After Technical Glitch, Says Al Ansari Exchange

(MENAFN- Khaleej Times)

Al Ansari Exchange , touted as the UAE's largest remittance and foreign exchange company, confirmed to Khaleej Times on Friday (July 11) that the remittance delays experienced on Saturday, July 5,“have been fully resolved and all other services remained unaffected by the technical issue.”

Early this week, some UAE residents who sent remittances via Al Ansari Exchange, said transactions that were supposed to be completed in minutes got delayed for days. The delay, caused by a technical glitch, happened on a busy weekend, when many expats - after getting their monthly salary - sent money back home earmarked for household expenses, education, rent, medical bills, and other expenditures.

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One of the affected customers, I.H. Khan, confirmed in an email to Khaleej Times that his remittance was completed only on Wednesday (July 9).“My wife is a brain hemorrhage patient, and it costs us a lot of money for her monthly maintenance medicines. I sent her money from my monthly salary over the weekend, and it was delayed," he shared.

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"They (Al Ansari) knew they had snags in their system, but they didn't inform us. Otherwise we could have used alternative exchange houses. I thank (Khaleej Times) for raising this issue," he added.

Less than 1 per cent affected

In a statement sent to Khaleej Times, Al Ansari Exchange said:“We acknowledge that a temporary technical issue within our systems impacted a limited number of remittance transactions on Saturday, 5th July.”

“The issue was promptly resolved, and our teams have been working closely with local and international partners to recall any erroneous transactions and re-instate all legitimate transfers that were cancelled by the system

“This incident affected less than 1 per cent of our customer base, and we confirm that the delays experienced by impacted customers have been fully resolved. All other services remained unaffected by this technical issue,” added Al Ansari Exchange, a subsidiary of listed company Al Ansari Financial Services PJSC.

While the financial impact of the glitch was not disclosed, the company explained it operates through a wide network of partner banks and agents, both locally and globally.“We are following established processes to reconcile each affected transaction in coordination with our strategic partners,” the company said.

"This collaborative effort has effectively limited the financial impact on the company. While the impact appears minimal, additional time is required to complete a thorough assessment," it added.

Customer support available

Al Ansari Exchange advised any customer with concerns about pending transactions to contact its customer support hotline at 600 546000 (or +971 600 546000 from outside the UAE), available from 8am to midnight UAE time.

“We regret any inconvenience this may have caused and appreciate the understanding and patience of our customers and strategic partners throughout this process,” the company concluded.

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