Doha - Al Dar for Exchange Works, a money exchange and transfer company with services developed to compete in terms of time consumption in the market, was formally launched at a ceremony in Ritz Carlton yesterday.
The Government owns 33 per cent stakes of the company, which has a paid up capital of QR100m.
The Governor of Qatar Central Bank, H E Sheikh Abdullah bin Saud Al Thani was the guest of honour at the function attended by over 250 guests, consisting of government and company officials, Ambassadors, central bank officials shareholders and the general public.
"We're very delighted to be one of the first to recognise the investors interest in the financial sector hence we've established Al Dar exchange as a Qatari financial Company in January 17 2006," said Al Dar Chairman Abdul Aziz Al Ansari.
AL Dar Exchange CEO Hisham Al Sayed , expressed his delight as He thanked the Emir H H Sheikh Hamad bin Khalifa Al Thani, the Heir Apparent and Deputy Emir H H Sheikh Tamim bin Hamad Al Thani and the Prime Minister and Foreign Minister H E Sheikh Hamad bin Jassem bin Jabor Al Thani for support and encouragement.
"Since the beginning we've been aspiring excellence and prominence in the market and that's evident now with Al Dar as we have eight branches across the country thus commanding the largest network in Qatar," Hisham Al Sayed said.
"'It is also run on the Shariah-approved principles and transfers money around the world in the countries' respective currencies," he added.
Al Dar's General Manager, Ebrahim Al-Lengawi also addressed the gathering. On the services provided by Al Dar, he said, "We offer Funds Transfer and Foreign Currency Exchange in all major currencies and give Best exchange rates for Drafts and Telex. Our facilities include Quick Money Transfer, Western Union Money Transfer, Door to Door Draft delivery, Direct credit to the account in Asian Countries, Traveler's Cheques, Inter-Bank Funds Transfer; Inward Remittance to Qatar among others."
© The Peninsula 2008
