Gulf Exchange
Gulf Exchange is a privately held Qatari money exchange founded in 1977, providing international money transfer, foreign currency exchange across 35+ currencies, and gold trading through 23 branches, digital apps, and Ooredoo integration for retail and corporate customers in Qatar.
- Company typePrivate
- Founded1977
- HeadquartersDoha, Qatar
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Gulf Exchange does
Gulf Exchange is a privately held Qatari money exchange company founded in 1977 under Founder and Chairman Ali Jaafar Al-Sarraf, headquartered in Doha and licensed by the Qatar Central Bank (license MS 2/82). The company operates three core service lines: international money transfer, foreign currency exchange across 35+ global currencies, and gold purchase-and-sale. Its money transfer offering is delivered through multiple channels including 23 physical branches across Qatar, a proprietary web application, iOS and Android mobile apps, and an integration with Ooredoo's Mobile Money platform, with instant-payout corridors (60-second credit facility) to India, Bangladesh, Sri Lanka, Philippines, and Nepal via partner networks including Western Union, Xpress Money, SHiFT, Prabhu, and RIA.
Underlying the services is a multi-channel transaction platform that has been described by the company as a fintech pioneer since 1991, backed by an ISO 27001:2022-certified information security management system and an AML/CFT compliance framework that includes World-Check screening for sanctions and PEP checks. Customer service is delivered through multilingual staff covering 20 languages, serving Qatar's large expatriate workforce, with the company reporting 135,000 personalized monthly customer interactions and a cumulative base of over 2 million retail and business customers since inception.
Gulf Exchange generates revenue through transaction fees and FX spreads on money transfer, currency exchange, and gold transactions (no pricing is publicly disclosed; rates are indicative and branch-specific). It serves a horizontal mix of individual consumers, expatriates, and corporate/SMB clients requiring business remittances and corporate FX, with a heavy long-tail retail concentration and no disclosed enterprise anchor accounts. The company is privately held, founder-controlled, with no institutional investors, subsidiaries, or disclosed funding rounds.
Gulf Exchange firmographics
Firmographics- Name
- Gulf Exchange
- Legal name
- Gulf Exchange
- Website
- https://gulfexchange.com.qa
- Company type
- Private
- Founded year
- 1977
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Gulf Exchange is a privately held Qatari money exchange founded in 1977, providing international money transfer, foreign currency exchange across 35+ currencies, and gold trading through 23 branches, digital apps, and Ooredoo integration for retail and corporate customers in Qatar.
- Ownership category
- akta.pro rank
Gulf Exchange industry classification
Industry- Product category
- Money Transfer & Exchange Services
- NAICS
- Miscellaneous Intermediation (523910)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Consumer Remittances (P2P) (FSAMAIAA)
- akta.pro secondary industry
- Cross-Border & FX Payments Platforms (BPAMAFAK)
Keywords
Where Gulf Exchange is headquartered
LocationHeadquarters
- HQ city
- Doha
- HQ country
- Qatar
- HQ region
- Middle East
Offices2 records
Markets served
Gulf Exchange business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Money Transfer Services: Revenue generated from transaction fees and exchange rate margins on international money transfers including cash pick-up, instant transfers (Western Union, Xpress Money, etc.), bank transfers, and mobile wallet transfers.
- Foreign Currency Exchange: Revenue from buying and selling over 35 global currencies at competitive exchange rates, generating margin on currency transactions.
- Gold Purchase and Sale: Revenue from buying and selling gold at prevailing market rates with competitive pricing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | No publicly disclosed pricing - rates are indicative and branch-specific |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Gulf Exchange product offering
Product offeringCore offering
Gulf Exchange provides international money transfer services, foreign currency exchange across 35+ global currencies, and gold purchase and sale services. The company operates a multi-channel remittance platform accessible through 23 physical branches across Qatar, web and mobile applications (iOS/Android), and a partnership integration with Ooredoo Mobile Money. Services are delivered in 20 languages and include cash pick-up, instant transfers via partner networks (Western Union, Xpress Money, SHiFT, Prabhu, RIA), and direct bank account credits, including a 60-second credit facility to selected destinations.
Product overview
Gulf Exchange is a Qatari money exchange company providing a unified financial services platform centered around money transfer, foreign currency exchange, and gold trading. The core product portfolio consists of three main services: Money Transfer Service (delivered via web application, mobile apps, and Ooredoo integration), Foreign Currency Exchange (supporting 35+ global currencies), and Buy & Sell Gold. The Money Transfer Service includes sub-products such as Cash Pick-up, Instant Money Transfer (through partner networks like Western Union, Xpress Money, RIA, SHiFT, Prabhu), Bank Transfer, 60 Seconds Credit Facility, and Mobile Money Transfer. The company serves customers through 23 physical branches in Qatar and digital channels, offering services in 20 languages.
Differentiator
Problem solved
Functional benefit
Products and services
- Money Transfer Service International money transfer service allowing customers to send and receive money globally through multiple channels including cash pickup, instant transfer, bank transfer, mobile wallet, and web/mobile applications. Targets expatriates in Qatar and recipients in Bangladesh, India, Indonesia, Nepal, Philippines, Sri Lanka, and other countries.
- Foreign Currency Exchange Foreign currency exchange service for buying and selling over 35 global currencies at competitive rates, generating margin on currency transactions for individual and corporate customers in Qatar.
- Buy & Sell Gold Gold purchase and sale service offering best quality gold at competitive market prices for personal savings and investment, generating transaction-fee revenue at market rates.
- Gulf Exchange Mobile Application
Quantifiable outcome
- 135,000 customers served monthly with personalized service
- +2 more outcomes
Companies that use Gulf Exchange
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
Gulf Exchange technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature3 records
Gulf Exchange partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- Western UnioncoreInstant money transfer service partner enabling customers to send and receive money globally within minutes through Gulf Exchange branches.
- Xpress MoneycoreInstant money transfer partner for global remittance services accessible at Gulf Exchange locations.
- SHiFTcoreInstant money transfer service partner for global remittance services.
- Prabhu Money TransfercoreInstant money transfer partner enabling transfers to various destinations globally.
- RIA IMEcoreInstant money transfer partner for global remittance services.
- World-CheckcoreCompliance screening solution used for sanctions screening, politically exposed persons (PEP) checks, and customer due diligence as part of AML/CFT compliance framework.
- OoredoocoreStrategic mobile partnership enabling Gulf Exchange money transfer services through Ooredoo Mobile Money App, allowing customers to transfer money 24/7 to India, Bangladesh, Sri Lanka, Philippines, Nepal and more.
Scale indicators6 records
Recent moves6 records
Expansion highlights4 records
Gulf Exchange competitors and assessment
Company assessmentDirect peers
- GCC Exchange: UAE-headquartered money exchange offering retail remittance, FX, and gold trading through branch networks across the GCC and South Asia. Operates in the same product category and customer corridors as Gulf Exchange.
- Al Muzaini Exchange: Established GCC-based money exchange operator (with presence in Kuwait, UAE, and other Gulf markets) specializing in remittances and FX. Comparable product set and corridor focus to Gulf Exchange.
- Wall Street Exchange: Qatar-based money exchange and remittance company operating in Doha with a similar retail branch model, FX and gold services, and remittance corridor coverage. Direct domestic competitor to Gulf Exchange for the same Qatar-based expatriate customer base.
- Al Ansari Exchange: UAE-headquartered money exchange and remittance operator with hundreds of branches across the GCC serving the same expat remittance, FX, and bill-payment needs. The closest analogous franchise in the regional money exchange category in terms of product mix, branch-led model, and corridor focus.
- UAE Exchange (eXchange / Unimoni): Historic GCC money exchange and remittance operator (formerly part of Finablr) now operating under Unimoni, with branch-led remittance, FX, and gold services targeting the same South Asian remittance corridors as Gulf Exchange.
- National Exchange Company: UAE-based money exchange and remittance provider with branch-led retail FX and remittance services across GCC corridors, directly comparable to Gulf Exchange's product portfolio and customer segments.
Broad incumbents
- Western Union: Both a partner and a competitor of Gulf Exchange. Western Union operates globally via direct channels and agent networks including Gulf Exchange itself, representing both a revenue source and the dominant disintermediation threat the company faces.
- Al Rajhi Money (Al Rajhi Bank): Remittance and money transfer arm of one of the largest banks in Saudi Arabia and the GCC. Competes with Gulf Exchange for expatriate remittances from the broader GCC and offers a more comprehensive banking-led suite alongside money exchange services.
Emerging players
- Wise (formerly TransferWise): Digital-first cross-border payments company offering low-cost remittances to the same South and Southeast Asian corridors Gulf Exchange serves. Represents the disruptive fintech archetype competing for the same expat customers via mobile-first experience.
- Remitly: US-headquartered digital remittance fintech with strong corridor coverage into the Philippines, India, Bangladesh, and Pakistan — the same priority corridors for Gulf Exchange. App-first challenger targeting expat customers who prefer digital self-service over branch visits.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Gulf Exchange social profiles
Digital presenceGulf Exchange compliance and trust
Trust signalCompliance1 record
Gulf Exchange financial estimates
Financial estimateRevenue estimate
Valuation estimate
Gulf Exchange leadership team
Management profileNumber of profiles
Profiles1 record
Gulf Exchange funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Gulf Exchange M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Gulf Exchange
What does Gulf Exchange do?
Gulf Exchange provides international money transfer services, foreign currency exchange across 35+ global currencies, and gold purchase and sale services. The company operates a multi-channel remittance platform accessible through 23 physical branches across Qatar, web and mobile applications (iOS/Android), and a partnership integration with Ooredoo Mobile Money. Services are delivered in 20 languages and include cash pick-up, instant transfers via partner networks (Western Union, Xpress Money, SHiFT, Prabhu, RIA), and direct bank account credits, including a 60-second credit facility to selected destinations.
Is Gulf Exchange a public or private company?
Gulf Exchange is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Gulf Exchange founded?
Gulf Exchange was founded in 1977. It employs 101 to 250 people.
Where is Gulf Exchange based?
Gulf Exchange is headquartered in Doha, Qatar, in the Middle East region.
How does Gulf Exchange make money?
Three revenue lines are on record. Money Transfer Services are the primary driver. The others are foreign Currency Exchange and gold Purchase and Sale.
Who are Gulf Exchange's main competitors?
Direct peers on record are GCC Exchange, Al Muzaini Exchange, Wall Street Exchange, Al Ansari Exchange, UAE Exchange (eXchange / Unimoni) and National Exchange Company. Broad incumbents are Western Union and Al Rajhi Money (Al Rajhi Bank). Emerging players are Wise (formerly TransferWise) and Remitly.
Does Gulf Exchange have an API?
No public API is recorded for Gulf Exchange.
What industry is Gulf Exchange in?
Gulf Exchange's product category is Money Transfer & Exchange Services. Its primary akta.pro industry code is FSAMAIAA, Consumer Remittances (P2P), with a secondary code of BPAMAFAK, Cross-Border & FX Payments Platforms. Its NAICS code is 523910 and its SIC code is 6199.