UAE Exchange suspends new transactions

iStock

The money remittance firm UAE Exchange has temporarily stopped accepting transactions at its branches and online platforms.

In a statement, the company said its services have been suspended due to "certain operational challenges".

It added that it is currently focused on processing all existing transactions as quickly as possible.

The firm’s branches and service points will remain open to handle customer queries.

Here's the full statement from UAE Exchange: 

"Due to certain operational challenges, we have temporarily suspended acceptance of any new transactions at UAE Exchange branches and via our online channels.

"We are currently focused on processing all existing transactions as quickly as possible. Our customer service touchpoints as well as UAE Exchange branches will remain open to support and attend to any queries customers may have.

"We apologise to our customers for any inconvenience caused."

More from Business

  • Disney settles suit over women's pay for $43 million

    Walt Disney has agreed to pay $43.3 million to settle a lawsuit alleging that its female employees in California earned $150 million less than their male counterparts over an eight-year period, the plaintiffs' lawyers said in a statement on Monday.

  • Etihad Airways adds ten new destinations for 2025

    UAE carrier Etihad Airways is set to introduce ten new destinations starting in 2025, expanding its global presence as it brings tens of thousands of new visitors to the capital.

  • Trump pledges new tariffs on Canada, Mexico, China

    US President-elect Donald Trump on Monday pledged a 25 per cent tariff on all products from Mexico and Canada from his first day in office, and an additional 10 per cent tariff on goods from China, citing illegal immigration and the trade of illicit drugs.

  • UAE and Bahrain finalise ICV programmes procedures

    The UAE and Bahrain have finalised the procedures required to implement an MoU, signed last January, that fosters cooperation between the National In-Country Value (ICV) Programme and Bahrain’s Value Programme in Industry, known as Takamul.