A new Representative Committee (Board Members) of the Foreign Exchange and Remittance Group, UAE (FERG) was elected for the term 2013 – 2014 at the Annual General Assembly Meeting held in December 2012. The newly elected Committee is constituted by 11 main members + 2 Reserve members as per the rules prescribed by Dubai Chamber of Commerce & Industry (DCCI) in the Articles of FERG. The newly formed Committee elected the Office Bearers of FERG in their meeting held on 26th January 2013.
Mr. Osama Al Rahma, General Manager, Al Fardan Exchange was elected as the Chairman of FERG for the term: 2013-2014 and Mr. Sudhir Shetty, COO, UAE Exchange was elected as the Vice Chairman.
Other office bearers are Mr. Adeeb Ahamed, Lulu Exchange, as Treasurer, Mr. V. S. Thampi, Al Ahalia Money Exchange Bureau as Joint Treasurer, Mr. Rajiv Raipancholia – Orient Exchange, as Secretary.
Mr. Mohammad Al Ansari, Chairman, Al Ansari Exchange and outgoing Chairman of FERG congratulated the new office bearers and also assured them of full support. The new Chairman, Mr. Osama Al Rahma and all office bearers thanked Mr. Mohammad Al Ansari for his vision and leadership throughout the past 4 years, as also during the formative years since 2003 in making FERG a strong and united body and its various achievements. The new board agreed to announce Mr. Mohammad Al Ansari as the Founding Chairman of FERG.
The new chairman, Mr Osama Al Rahma, emphasized that he will further strengthen FERG and makes it a vibrant forum for the benefit of the entire exchange industry not only in the UAE, but also a beacon for others to follow in this Region. He assured that he will focus on providing a conducive business environment for the exchange companies in the UAE by improving quality and performance standards.
About FERG
Financial institutions offering money exchange and remittances services have joined hands to form an industry forum called the Foreign Exchange & Remittance Group (FERG) in the UAE.
The initiative to form a Group of Exchange Companies operating in the UAE started under the aegis of the Central Bank of the UAE in the year 2003. Consequently, some of the major exchange companies met at regular intervals to discuss market situations, opportunities and threats facing the exchange industry. The forum was formally registered as ‘Foreign Exchange & Remittance Group, UAE (FERG) with DCCI in 2008.
Currently more than 50 exchange companies, aggregately handling around 90% of the total foreign exchange and remittance business in the UAE are registered members of FERG.
Contacts
Leena Wilson
Administrative Manager
Foreign Exchange & Remittance Group (FERG)
Tel: +971 4 3772896
No comments:
Post a Comment