Sharaf Exchange

What Sharaf Exchange does

Sharaf Exchange LLC is a Dubai-headquartered, UAE-focused currency exchange and money transfer operator that is part of the broader Sharaf Group conglomerate. The company's primary activity is buying and selling foreign currency across more than 30 international denominations, including major South Asian remittance corridors (PKR, INR, BDT, NPR, PHP, LKR, IDR), GCC currencies, and G7 currencies. It operates a multi-channel distribution model: physical branches in Dubai (Bur Dubai), Abu Dhabi (Al Reef) and Sharjah (Sajaa) serve walk-in retail exchange, while a mobile application on iOS and Android enables self-serve international money transfers with real-time tracking.

Beyond core FX and remittance, Sharaf Exchange runs a set of adjacent services that expand the addressable revenue per customer. These include retail and corporate money transfer tiers, a Currency Buy Back Guarantee that mitigates customer exposure on currency purchases, the Usrati loyalty program offering preferential rates to enrolled customers, and value-added services such as bill payments and VAT payment collection. The company also operates UAE-regulated payroll solutions, specifically the Wages Protection System (WPS) for general employers and a specialized WPS domestic-worker product, plus GPSSA pension contribution integration, targeting both corporates and households employing domestic staff.

The revenue model is entirely transaction-based, monetized through spreads on currency exchange, fees on retail and corporate money transfers, and per-transaction pricing on payroll, bill payment and VAT collection services. AML/CFT compliance is treated as a regulatory baseline rather than a differentiator, and the licensed-by regulatory badge is displayed on the website. Pricing is not publicly disclosed; rates displayed online are indicative. The go-to-market combines branch-led retail acquisition, the mobile app as a self-serve channel, direct corporate sales for enterprise payroll, and a customer referral program for organic growth. The company is privately held within the Sharaf Group, with no external funding, public listing, or acquisition activity disclosed.

Name

Sharaf Exchange

Legal name

Sharaf Exchange LLC

Website

https://sharafexchange.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

Sharaf Exchange LLC is a Dubai-based, UAE-licensed currency exchange and money transfer operator serving retail and corporate customers through branches in Dubai, Abu Dhabi and Sharjah, a mobile app, and adjacent payroll and bill payment services.

Ownership category

akta.pro rank

Product category

Currency Exchange and Remittance Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border & FX Payments Platforms (BPAMAFAK)

akta.pro secondary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Currency exchange services
• International money transfer
• Forex exchange UAE
• WPS payroll solutions
• Retail remittance services

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Currency Exchange Spreads: Revenue generated from the spread between buying and selling rates of foreign currencies. The company offers competitive rates for both buying and selling currencies.
2. Money Transfer Services: Fees charged for retail and corporate money transfers, both domestic and international.
3. Value Added Services: Revenue from bill payments, VAT payment collections, and other ancillary services.
4. Payroll Solutions (WPS): Wages Protection System (WPS) and related payroll services for businesses, including domestic worker payroll management.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Sharaf Exchange is a UAE-based currency exchange and remittance company that buys and sells foreign currency across 30+ currencies and provides retail and corporate international money transfer services. It also offers complementary value-added services including utility bill payments, VAT collection for the UAE Federal Tax Authority, WPS-compliant payroll solutions, and GPSSA pension services. Customers can transact at physical branches in Dubai, Abu Dhabi, and Sharjah or via a dedicated mobile application.

Product overview

Sharaf Exchange operates as a unified financial services platform offering currency exchange and money transfer as its core products, supported by value-added services and payroll solutions. The product portfolio centers on Currency Exchange (with over 30 currencies) and Money Transfer capabilities (retail and corporate tiers), delivered through physical branches, a mobile app, and online channels. Additional modules include the Buy Back Guarantee add-on for currency purchases, the Usrati loyalty program, and specialized services like WPS payroll solutions and VAT payment collections. The mobile app serves as the primary digital channel for money transfers, while branch locations provide face-to-face currency exchange services across the UAE.

Differentiator

Problem solved

Functional benefit

Products and services

• Currency Exchange Multi-currency foreign exchange counter service supporting 30+ currencies, available to retail customers at physical branches in Dubai, Abu Dhabi, and Sharjah.
• Currency Buy Back Guarantee Rate-protection feature that lets customers lock in an exchange rate and sell back unused currency at the same rate, protecting them from rate volatility.
• Retail Money Transfer International money transfer service for individual customers to send money abroad with tracking and multi-channel access.
• Corporate Money Transfer International money transfer service tailored for UAE businesses requiring bulk and recurring cross-border transfers.
• Bill Payments Utility and recurring bill payment service for retail customers at Sharaf Exchange branch counters.
• VAT Payment Collection Counter service that enables individuals and businesses to pay UAE Federal Tax Authority VAT liabilities at Sharaf Exchange branches.
• WPS Payroll Solutions UAE Wage Protection System-compliant salary disbursement service for businesses, including specialized handling for domestic worker payroll.
• GPSSA Pension Service

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Sharaf GroupflagshipOthersSharaf Exchange is a member of Sharaf Group, an established business conglomerate in the UAE. The company operates as part of this larger corporate family, leveraging the group's brand recognition and infrastructure.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Regional players

• GCC Exchange (Al Fardan Exchange): UAE/Qatar-headquartered licensed exchange offering currency exchange, money transfer and payroll products. Direct competitive overlap in retail FX and corporate WPS services.
• Emirates Exchange: UAE-based exchange house offering currency exchange and remittance across Dubai, Abu Dhabi and other emirates. Closely comparable product mix and target segments to Sharaf Exchange.

Broad incumbents

• MoneyGram: Global cross-border P2P payment network with significant UAE outbound remittance volumes. Competes with Sharaf Exchange on speed, fees, and corridor coverage for retail transfers.
• Western Union: Global money transfer leader with strong agent presence across UAE corridors served by Sharaf Exchange (especially South Asia and Philippines). Competes directly on retail remittance pricing and brand trust.
• Al Rajhi Bank: Largest GCC bank with currency exchange, remittance (Mubarak) and payroll products across Saudi Arabia and regional operations. A broader incumbent offering exchange as part of a wider retail/banking portfolio.

Emerging players

• Remitly: US-headquartered mobile remittance platform with strong UAE outbound corridors to India, Pakistan, Bangladesh and Philippines. Emerging digital alternative targeting the same migrant customer base served by Sharaf Exchange.
• Xpress Money: Cross-border remittance fintech serving UAE outbound corridors with digital and agent-based channels. Targets the same South Asian and Filipino remitter segments as Sharaf Exchange.
• Wise (TransferWise): Digital-first multi-currency account and cross-border transfer provider. Threatens incumbent UAE exchangers on transparent FX, mobile UX, and direct bank payout — same corridors and customer persona as Sharaf Exchange.

Direct peers

• Al Ansari Exchange: UAE's largest licensed exchange house, directly competing on physical branch currency exchange, money transfer, and payroll/WPS services. Highly comparable business model and customer base across Dubai, Abu Dhabi and Sharjah.
• UAE Exchange (Unimoni): Major GCC currency exchange and remittance player with extensive UAE branch network and remittance franchise. Direct overlap on multi-currency exchange, retail transfers, and corporate payroll services.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/infoshex
• Facebookfacebook.com/sharafexchange
• LinkedInlinkedin.com/company/sharafexchange

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sharaf Exchange