M/s Shaheen Money Exchange LLC is one of the leading foreign exchange companies in the United Arab Emirates. Merely beginning of a single branch in DEIRA Dubai, Shaheen has rapidly become the destination of choice for customers looking to exchange currency or transfer money abroad through its large and growing network. Shaheen is committed to facilitating global financial transactions. We offer reliable, professional and innovative services to make business transactions more efficiently.
In order to achieve these goals, Shaheen operates by five core values: Reliable Performance, Innovation, Customer Focus, Teamwork and Trust. The company is functioning under the license and direct monitoring by the Central Bank of UAE (License No.508188 dated 10th October 1998). Our management teams consist of personnel with expertise in the financial industry and a vision of future. Shaheen Money Exchange is fully comply with AML regulations enforced by the CBUAE .The company has it as a policy to enforce procedure and controls to ensure compliance with AML regulations. As a sample of the company’s dedication to its policy, the company maintains customer records for a period of 5 years and has fully completed and verified KYC form with duly updated time to time. Shaheen Money Exchange has its own Risk assessment policy for mitigating the Risk associated with the business and our senior management team will ensure that all the employee of the Shaheen Money Exchange is strictly follow the rules and procedures. Our Disaster management recovery team will ensure the Disaster recovery plan is placed and Business continuity in case of any disaster happens. Shaheen Money Exchange takes pride in the expertise and knowledge base of its human resources. Every member of staff is provided with training to efficiently discharge their duties and to ensure compliance with all regulations affecting the company with particular emphasis on AML .company has procedures in place to review the performance of every employee.
To be a leading financial institution offering personalized, reliable and efficient services to best serve businesses in UAE markets.
In its relentless efforts to exercise caution in all its transactions, Shaheen Exchange has additionally installed dow Jones System, a real time data verification system, wherein almost 350 agencies including OFAC, EU, HMRC, UN sanction list and similar other agencies including the banned list of customers, from various parts of the World’s central banks updated on real time basis. All transactions are actually checked against the list and only after being satisfied these are processed by Shaheen Money Exchange for further pay-outs.
Shaheen Money Exchange has a stringent policy of preparing a KYC “Know Your Customer” profiles for almost all its regular customers, where in a detailed profile is prepared and recorded for all its customers. Shaheen Money Exchange also has CDD “Customer Due Diligence” procedures and it also conducts EDD “Enhanced Due Diligence” process for its transactions wherever and whenever necessary.
It has a dedicated compliance department and a team of AML professionals posted at each of its branches who are responsible to validate transactions generated and paid out on daily basis. Shaheen Exchange ensures that all the staff members are thoroughly trained before they are delegated with the responsibility of attending any customers for using its services related to remittance and foreign exchange.
In fact, Shaheen Money Exchange is one among the first exchange houses in the UAE who has effectively implemented strong AML/CFT regime and it has been operating its business in a professional and reliable manner.
As per the guidelines of Central Bank of UAE, International AML/KYC Guidelines and as per our commitment to our Bankers globally, it is prime duty & main responsibility to make sure that all our transactions are risk free, free from all terrorist activities and as per the international AML/KYC guidelines.
It is our major commitment and obligation towards our Government and community, to take proper care, while dealing with national and international customers and before executing any transactions from our side.
It is also our moral duty to make aware to all our valued customers about present AML/KYC scenario and guidelines to avoid any mishap and wrong transactions, mainly to safeguard their assets and interest.