Al Ansari Exchange L.L.C, a leading exchange company in the UAE with the largest branch network started as an offshoot of a flourishing general trading business of the Al Ansari family almost 60 years ago, primarily to meet the foreign exchange and remittance needs of their trading partners and customers, at a time when formal banking was yet to be established in the Country. With the gradual evolution and semblance of banking in the mid-1960s, the first branch was opened in Abu Dhabi in 1966. The Company has made quick strides thereon and progressed to emerge as one of the largest and most popular exchange companies in the UAE.
Today Al Ansari Exchange L.L.C boasts of a network of over 180 branches, employing over 2500 multilingual staff who cater to millions of customers with fast, reliable and efficient service at very competitive charges. Al Ansari Exchange has launched several charitable and social initiatives and programs related to the education, health and other charities. The company is also active in supporting relief to natural disasters in various regions of the world.
Note: Proceeds are funds made available to Gavi from donor contributions and commitments, either through cash payments made to Gavi, through frontloading via the capital markets of a future donor commitment to IFFIm, or through AMC funds released to Gavi via the World Bank. IFFIm proceeds are allocated over five year periods coinciding with Gavi’s strategic periods. Proceeds for the current and future strategic periods are indicative until the end of each period and could be revised following changes in market conditions (interest rates or foreign exchange rates), the signing of new pledge(s) and/or changes in IFFIm’s disbursement profile.
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Direct Contributions (including Matching Fund)
Received contributions: non-US$ contributions for 2000-2018 and Q1-Q3 2019 are expressed in US$ equivalents using the exchange rates on the dates of receipt. For 2014-2018 and Q1-Q3 2019, where contributions were hedged to mitigate currency risk exposure, these have been expressed using the rates applicable to the hedge agreement.
Future contributions: non-US$ Direct Contribution and Matching Fund pledges for Q4 2019 and years 2020 and beyond are expressed in US$ equivalents using the applicable 'forecast rates' from Bloomberg as at 30 September 2019 or using the rates applicable to any hedge agreement in place.
Received contributions: non-US$ contributions for 2000-2018 and Q1-Q3 2019 are expressed in US$ equivalents as confirmed by the IBRD (World Bank)
Future contributions: non-US$ contributions for Q4 2019 and years 2020 and beyond are expressed in US$ equivalents as follows:
Where the contribution agreement has been signed: contributions are expressed in US$ equivalents using the exchange rates at the time of signing the respective donor grant agreements
Where the contribution agreement has not yet been signed: contributions are expressed in US$ equivalents using the applicable 'forecast rates' from Bloomberg as at 30 September 2019
While IFFIm grants are irrevocable and legally binding, they are subject to a Grant Payment Condition that can potentially reduce the amount due in the event that a programme country is in protracted arrears with the International Monetary Fund. As of 30 September 2019, IFFIm donor grant payments are reduced by 1.5%, however such reductions are not reflected in future contributions figures.
Al Ansari Exchange pledged a contribution of one million dollars at Gavi’s Mid-Term Review Conference in Abu Dhabi on 10th December 2018 to support Gavi’s Programme for the period between 2019 and 2020. On 23rd December 2018, Al Ansari Exchange’s Board of Director formally approved its funding to Gavi and has elected to earmark its contribution towards the Measles Programme in Guinea, Nigeria and Senegal.
Contributions and pledges in total: