Al Ansari Financial Services, a leading integrated financial services group in the UAE and parent company of Al Ansari Exchange, has completed its acquisition of BFC Group Holdings (BFC) following all necessary regulatory approvals.
The move cements Al Ansari’s position as the largest non-banking financial institution (NBFI) in the Gulf Cooperation Council (GCC) region by branch network.
BFC Group Holdings is the holding company for Bahrain Financing Company (BFC), Bahrain, Bahrain Exchange Company (BEC), Kuwait, BFC Forex and Financial Services, India, and BFC Payments, Bahrain. The Group specializes in sending and receiving money securely and efficiently across the globe and offers foreign currency exchange solutions at the best available rates.
This transformative $200 million transaction expands AAFS’s presence across Bahrain, Kuwait, and India, increasing the Group’s customer base by 29 percent and branch network by 60 percent. The integration of BFC enhances AAFS’s operational scale and geographic diversification, creating substantial value for shareholders, customers, and employees.
Rashed A. Al Ansari, Group CEO of Al Ansari Financial Services commented that, “Today’s acquisition represents a pivotal step for Al Ansari Financial Services, underscoring our dedication to regional growth, innovation, and enhancing our financial strength. We are confident that this move will deliver long-term value for our shareholders. Moreover, the anticipated boost in cash flow post-integration reinforces our commitment to providing strong returns for our investors.”
With a strengthened market position and an expanded footprint, AAFS is well-positioned to drive sustainable growth across key markets. The Group remains focused on unlocking new revenue streams, optimizing operational efficiencies, and accelerating digital transformation. The acquisition of BFC is expected to unlock further opportunities for strategic partnerships, product innovation, and market penetration across key remittance corridors.
