Kuwait, 23 June 2017: UAEXCHANGE is a global money remittance, foreign exchange and payment solutions brand. UAE Exchange Group has announced that Kuwait National Exchange WLL chain of remittance houses has been appointed to represent the brand “UAEXCHANGE” in Kuwait.

The decision, made by Kuwaiti authorities, came after the UAE Exchange Group decided to dissolve its partnership with its local partner in Kuwait, citing differences. The Group then moved to serve its customers through Kuwait National Exchange WLL, which is now legally authorized to use the brand “UAEXCHANGE”.

“UAE Exchange Group is a proud partner in Kuwait’s prosperity and in the development of the remittance and financial industry in the country. We regret to inform our stakeholders that we have been forced to dissolve our partnership with UAE Exchange Kuwait due to irrevocable differences. However, we will continue to serve our customers in Kuwait through Kuwait National Exchange WLL. We are very pleased to announce that, the authorities in Kuwait have authorized the association between UAE Exchange Group and Kuwait National Exchange WLL. This officially marks Kuwait National Exchange WLL as a Group-affiliated financial services provider in the country,” said Dr. B.R. Shetty, Chairman, UAE Exchange Group.

“Our first priority is to ensure continuity of services to customers and the well-being of our staff members. We are confident that Kuwait National Exchange will set new standards for customer service and innovation in the country. Meanwhile, we look forward to the Kuwaiti legal system demonstrating its world-class credentials by safeguarding our rights,” said Promoth Manghat, CEO, UAE Exchange Group.