announcement by Emirates Post Holding purchased the share of the remaining 40% from the shares of the Centre Wall Street Exchange, financial services, through a deal with a smaller Shakoor Patel, founder of exchange, one of the oldest and largest financial services companies operating in this area where it began its work in 1982 .
This includes the acquisition of Wall Street Exchange in the UAE, Wall Street Exchange of Hong Kong, Wall Street Exchange Company and the United Kingdom, where Cash Anstant Centre has a network of 35 branches including 24 branches in the UAE.
Fahad Al Issa Al Hosni Group Chief Executive, Emirates Post, Acting Chairman, Wall Street has become Wall Street Exchange is now a wholly owned subsidiary of the group, will help to lead the company to new heights by taking innovative steps to compete in the financial market highly competitive.
New growth strategies
For his part, said Sultan bin Khrschm executive director of “Wall Street” will enhance the acquisition of the remaining 40% of the shares of Wall Street Exchange of our position and our relationships with financial institutions. It will also help us to develop growth strategies and add new innovative products and new channels, including a set of online services.
It is worth mentioning that in October of 2005, Emirates Post has acquired a 60% stake in Wall Street Exchange. The move was seen as marking the time to enter the Emirates in the world of financial services, after an amendment to the Federal Law No. 8, by the Decree of August 10, 2005, which allowed for Emirates Post to provide financial services.
Annual growth of 25%
Recorded the Wall Street Exchange average annual growth of 25% since the Emirates Post acquired a majority stake. The number of branches in the UAE from 8 branches in 2005 to 24 branches at the beginning of 2012.
The new company’s strategy focuses on corporate customers and open new channels of services, including electronic services via the Internet, as well as the transfer of funds by phone. It is noted that the center of Wall Street Exchange was founded in Dubai in order to meet the needs of customers in the UAE regarding the provision of services, money orders and discharge rates.
The Centre continued its plans expansion, and in the present offer its clients a variety of services with regard to transfer of funds and foreign exchange center also offers a range of value-added services, providing solutions to a variety of services developed for individuals, financial and trade institutions in the UAE, and other places. The Centre has banking relationships with more than 130 banks and financial institutions across the world.