Last update08/06/2018


UAE exchange inaugurates branch at Residency road, Srinagar

Sunday, 18 December 2011
Rate this item
(0 votes)


UAE exchange inaugurates branch at Residency road
UAE exchange inaugurates branch at Residency roadRizwan Geelani

Srinagar, Dec 16:In a bid to nurture the services to its customers, UAE exchange unit, Friday inaugurated its new branch at Residency road Srinagar.
The branch has been inaugurated to provide genuine services to the customers who visit the exchange. ÔÇ£We witnessed a huge rush of customers that prompted us to open our new branch in this open space, said branch head, Peer Touseef Ahmad.
The branch has been shifted from its old place because of the increasing rush of the customers with each passing day.
The unit provides gold loan facility at affordable interest rates for education and business purposes.
ÔÇ£We keep the gold as the mortgage with us and provide loan for 80 per cent of its value. So for, we have disbursed an amount of Rs. 1.50 crores for gold loans in past three months, Touseef added.ÔÇØ

Being authorized by the Reserve Bank of India (RBI), the branch also carries the operation of foreign exchange as well.
ÔÇ£We provide the facility of currency exchange to the foreign tourists. So for, we have exchanged an amount of Rs. 3.5 crores from past three months, said Daman Singh, regional head of UAE exchange.

Vehicle loan is also being provided by the unit at genuine interest rates for two wheeler vehicles. ÔÇ£Our unit have financed about 7-8 two wheelers at the interest rate of 22 per cent from past three monthsÔÇØ, said Daman Singh.
Being approved by the tourism ministry, the branch is providing all its domestic and international ticket services to its customers to spread country wide.

ÔÇ£We book about 200 air tickets and witness about 300 transitions for money transfer per month.ÔÇØ Daman added.
It is pertinent to mention that being corporate agent of Life Insurance Corporation of India, General Insurance UAE exchange branch provides wide range of insurance policies to the customers.