Foreign Exchange and Remittance Group
About
FERG members collectively process over $30 billion (AED 110 billion) in remittances annually, serving the UAE's diverse expatriate community and millions of tourists. The organization plays a vital role in the UAE's financial ecosystem by facilitating safe, secure, and cost-effective cross-border money transfers through official channels, while maintaining strict compliance with anti-money laundering (AML) regulations and international financial standards.
The group actively collaborates with regulatory authorities, government bodies, law enforcement agencies, and financial institutions both within the UAE and globally. Through regular training programs, industry meetings, and policy advocacy, FERG has successfully implemented over 130 workshops, trained more than 10,000 employees, and achieved significant regulatory improvements. The organization's efforts have earned recognition from the Dubai Chamber as one of the most active business groups in the emirate, positioning the UAE as a market leader in the money exchange and remittance sector.
Mission & Mandate
FERG aims to foster the development of a dynamic, innovative, and stable foreign exchange and remittance industry that contributes to the economic and social well-being of customers while positioning the UAE as the market leader in money exchange and remittance business.
Core Objectives:
• Industry Representation: Serve as the unified voice for UAE exchange companies, advocating member interests with regulatory and government authorities
• Regulatory Compliance: Promote strict adherence to anti-money laundering (AML) and counter-terrorism financing (CTF) regulations through comprehensive training programs and best practices
• Professional Development: Conduct regular workshops and training sessions on AML/CTF, counterfeit currency detection, fraud prevention, and risk management to enhance industry standards
• Policy Advocacy: Maintain close liaison with the Central Bank of UAE, Dubai Police, and international regulatory bodies to facilitate favorable policy amendments and operational improvements
• Knowledge Sharing: Facilitate information exchange among members regarding fraud alerts, market trends, regulatory updates, and industry developments through regular committee meetings and conferences
• Business Environment Enhancement: Work towards creating a conducive and attractive business environment for all members within the regulatory framework of the Central Bank and Government of UAE
• Industry Integrity: Support the implementation of government initiatives such as the Wages Protection System (WPS) and Emiratization programs while combating financial crime
Chairman
Association Chairman
Quick Info
- Type Business Group
- Category Financial Services
- Country UAE
- Email info@ferguae.org
- Phone +971 4 377 2896
- Address Al Ansari Business Center, Level 7, Al Barsha 1, Dubai, United Arab Emirates
- Website Visit Website
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Latest Updates
FERG Games & Sports Fest 2025 – Highlights From electrifying matches to unforgettable team spirit, t...
🏅 FERG Games & Sports Fest 2025 – Let the Games Begin! 🏅 Thrilled to announce that the FERG Games...
Completed FERG training on Financial Crime Risk Assessment. Thanks Sanjay Singh Shihad Poozhikkunnat...
We are pleased to announce the successful completion of our final training of the year on Trade-Base...
🎉 FERG Games & Sports Fest 2025 – Highlights🏆 From electrifying matches to unforgettable team spir...
🎉 FERG Sports & Games Fest 2025 – A Triumphant Finish! With great pride, we announce the successful...