Al Fardan Exchange
UAE exchange house
A Central Bank of the UAE-licensed exchange house offering remittance and foreign-exchange services through a branch network and the AlfaPay digital app.
Last updated June 2026
At a glance
- Founded
- 1971, founded by Haj Hasan Ibrahim Al Fardan (d. 10 April 2025, aged 94), Founder and Honorary Chairman
- Headquarters
- Abu Dhabi, United Arab Emirates
- Legal entity
- Al Fardan Exchange - Sole Proprietorship L.L.C. (Global LEI 213800B7TYG6ZC24PM32)
- Regulation
- Licensed and supervised by the Central Bank of the UAE (CBUAE) as an exchange house, operating under the CBUAE Regulations Regarding Licensing and Monitoring of Exchange Business
- Subject to UAE anti-money-laundering and counter-terrorist-financing requirements administered under the CBUAE framework
- Registered legal entity with an active Global LEI (213800B7TYG6ZC24PM32), issued August 2019
Is Al Fardan Exchange safe and trustworthy?
Available evidence is consistent with an established, regulated provider, though it should be read as indicative rather than a guarantee. Al Fardan Exchange has operated since 1971, roughly five decades, is licensed and supervised by the Central Bank of the UAE, is part of the long-established Al Fardan Group, and maintains a substantial physical branch network alongside a regulated digital app. It holds an active Global LEI registration, and its AlfaPay app carries a high rating on Google Play (reported around 4.6 as of mid-2026, subject to change).
History of Al Fardan Exchange
Al Fardan Exchange was established in 1971 and is widely described as one of the UAE's oldest exchange houses. It grew out of the Al Fardan family's earlier seafaring and natural-pearl-trading business; founder Haj Hasan Ibrahim Al Fardan began his journey in pearl trading around 1954, and currency exchange followed as a complementary venture supporting that trade. The exchange house remains part of the broader Al Fardan Group, one of the UAE's long-established family business groups, and positioned itself early as a financial service for the UAE's large migrant-worker population sending money home.
Growth and scale
By the mid-2020s the company operated a UAE network reported at 85+ branches and outlets on its own site, and cited as 92+ in April 2026 partnership coverage (figures as of mid-2026, subject to change), supported by relationships the company reports as over 150 correspondent banks and financial-service partners worldwide. It has expanded into digital channels through its AlfaPay mobile app, which the company states supports transfers to 120-plus countries. In April 2026 it became the first UAE partner of AlfaNow — a Central Bank of the UAE-licensed cross-border payments company launched in February 2026 and reported to be an affiliated Al Fardan Group entity — an arrangement the press reported as enabling transfers to 125-plus countries via 4,300-plus banks and 160,000-plus payout locations. Independent, audited figures for total transfer volume or active users were not found in public sources.
Where it stands today
Active and operating as of mid-2026. Recent developments include the AlfaNow cross-border payments arrangement announced around 21-22 April 2026 and a February 2026 partnership with Sharjah's Sheraa to support startups and SMEs. It remains a privately held member of the Al Fardan Group; no IPO, acquisition, or major funding event was identified.
Does Al Fardan Exchange give the best rate?
As a traditional exchange house, Al Fardan Exchange typically earns through a combination of a transfer fee plus an exchange-rate margin (spread) rather than a single flat fee, which is standard for UAE exchange houses. It generally markets itself on convenience, branch access, and reliability. Whether it is competitive on any given transfer depends on the corridor, amount, and day, and on whether the sender uses a branch versus the AlfaPay app, so a live, side-by-side comparison is the most reliable way to determine the best rate at the moment of sending.
Compare Al Fardan Exchange's live rateWho Al Fardan Exchange is best for
UAE-based remitters who value an established, Central Bank-regulated provider with extensive physical branches alongside an app; cash-in/cash-out and over-the-counter remittances; salary/WPS and SME-related services; and major UAE outbound corridors to South Asia (India, Pakistan, Bangladesh), the Philippines, and other markets reachable via its 120-125+ country payout network.
Compare Al Fardan Exchange by destination
Sources
Important — please read
Last updated June 2026. This page is provided for general information only and is compiled from publicly available sources, accurate to the best of our knowledge at the date shown. Information can change and may contain errors or omissions. Rate Wala is an independent comparison service and is not affiliated with, endorsed by, or acting on behalf of Al Fardan Exchange.
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