Muscat: Asia Express Exchange, one of the leading money exchange and remittance firms in Oman, opened its thirty-first branch at the Lulu Hypermarket in Mabella.
The relocated branch was inaugurated by Sheikh Ibrahim bin Yahya Al Rawahi, the wali of Seeb, in the presence of Adeeb Ahamed, managing director, Asia Express Exchange, Sheikh Mohammed Hamed Ali Al Ghazali, director, Asia Express Exchange, and other senior officials from the company.
“We are proud to open this new branch in Mabella. This opening is in line with the company’s strategy to reinforce its growing presence in the country while providing our esteemed customers easy and convenient access to our wide range of services,” said Ahamed.
He added that his exchange house is planning to open one more branch in Oman this year, which will take the total number of branches to 32.
Asia Express Exchange has over the years emerged as a preferred exchange house providing fast and reliable money transfer worldwide and foreign exchange services to a cross-section of society, powered by a huge network, reputed partners and high standards of customer care.
The Asia Express Exchange thoroughly analyses the budding customer needs and wants to take all such measures to cater to their demands. Products, such as ‘Lulu Now,’ which allow immediate credit to designated bank accounts instantly is a testament to the firm’s commitment to delivering the highest standards of customer satisfaction.
“Our culture of quality and standardisation makes sure that every branch offers the same quality of service that we have become renowned for. Our customer-centric approach has made us the favourite of customers in such a short period and has helped us grow at a fast pace. We will continue striving towards spreading our network to get as close to our customers as possible and keep offering the best of services and solutions,” added Ahamed.
Referring to the trend in the remittance business, he said the remittance volume will remain the same as last year due to the ongoing economic slowdown in Oman and other Gulf Cooperation Council (GCC) countries.
“We don’t expect a large growth in remittances as such. And thanks to our loyal customers, we are aiming to achieve the same number of transactions as we had achieved last year. In terms of volume, there was a dip in the market. That was due to several factors, mainly the economic slowdown,” he explained.
However, Ahamed said, with restructuring happening in the entire GCC market, the remittance volumes will bounce back sometime in the first quarter of next year.
Talking about the recent appreciation of the Indian rupee, he said this was mainly due to the inherent strength of the Indian economy and the flow of foreign funds to Indian markets.