Sadiq Exchange
Sadiq Exchange is a State Bank of Pakistan-licensed currency exchange and remittance company serving Pakistani consumers and SMBs through 28+ physical branches with home remittance, foreign currency exchange, telegraphic transfer, and demand draft services.
- Company typePrivate
- Founded2011
- HeadquartersGujrat, Pakistan
- Headcount251–500
- GTM typeB2C
- OfferingServices
What Sadiq Exchange does
Sadiq Exchange Company (PVT) Limited is a Pakistan-based, State Bank of Pakistan-licensed foreign exchange and remittance services company headquartered in Gujrat, Punjab. Incorporated on August 3, 2011, the company received its SBP license on January 9, 2013 and commenced operations on March 1, 2013. It serves individual consumers and small/medium businesses through four core service lines: foreign currency exchange (across 12 currencies including USD, EUR, GBP, AED, SAR, KWD, OMR, BHD, QAR, AUD, CAD, and TRY), home remittance (inbound and outbound), outward telegraphic transfers, and demand drafts. The company operates a network of 28+ physical branches spanning major Pakistani cities (Islamabad, Lahore, Rawalpindi, Peshawar, Sialkot, Gujranwala) and smaller secondary towns across Punjab, Khyber Pakhtunkhwa, and the Islamabad Capital Territory.
The business has no disclosed proprietary technology platform; the only digital touchpoint is a web-based currency converter on its website. Revenue is generated entirely from two streams: (1) spreads on currency exchange transactions, and (2) commissions earned as an authorized agent for Western Union, MoneyGram, and Ria Money Transfer. Distribution is exclusively physical, with global remittance reach provided through the three principal-agent partnerships. The company is privately held with no disclosed external investors or parent entity; founder Moazam Khan is listed as owner. Operational scale signals include 12 years in business, a headcount of 251-500, and ongoing expansion evidenced by a recently launched Remittance Inward Scheme (October 2024 - January 2025).
Sadiq Exchange firmographics
Firmographics- Name
- Sadiq Exchange
- Legal name
- Sadiq Exchange Company (PVT) Limited
- Website
- https://sadiqexchange.com.pk
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Sadiq Exchange is a State Bank of Pakistan-licensed currency exchange and remittance company serving Pakistani consumers and SMBs through 28+ physical branches with home remittance, foreign currency exchange, telegraphic transfer, and demand draft services.
- Ownership category
- akta.pro rank
Sadiq Exchange industry classification
Industry- Product category
- Currency Exchange & Remittance Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Remittances & Retail FX (Consumer Cross-Border) (FSABAAAK)
- akta.pro secondary industries
- Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity) (FSAGAKAH), FX Conversion, Pricing & Hedging Infrastructure (Treasury/Rate Engines) (FSAGAKAG)
Keywords
Where Sadiq Exchange is headquartered
LocationHeadquarters
- HQ city
- Gujrat
- HQ country
- Pakistan
- HQ region
- Asia
Offices28 records
Markets served
Sadiq Exchange business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Currency Exchange Spread: Revenue generated from the spread between buying and selling exchange rates offered to customers across multiple currencies including USD, EUR, GBP, AED, SAR, and others. The company quotes different buy and sell rates for each currency pair.
- Remittance Services Commission: Commission earned through partnerships with Western Union, MoneyGram, and Ria for processing inbound and outbound remittance transactions. The company acts as an authorized agent for these global remittance networks.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Currency Exchange Rates |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Sadiq Exchange product offering
Product offeringCore offering
Sadiq Exchange is a State Bank of Pakistan-licensed currency exchange company that provides home remittance services, foreign currency exchange, telegraphic transfers, and demand drafts to individuals and businesses through more than 28 branches across Pakistan. The company acts as a payout agent for Western Union, MoneyGram, and Ria Money Transfer, enabling customers to send and receive international remittances, and it supplements its physical services with an online currency converter on its website.
Product overview
Sadiq Exchange Company (PVT) Limited is a Pakistan-based currency exchange and remittance services provider operating as a single unified service platform. The company offers four core services: Home Remittance for international money transfers, Foreign Currency Exchange for physical currency conversion, Telegraphic Transfer for overseas bank transfers, and Demand Drafts for secure financial instruments. These services are delivered through a network of 27+ physical branch locations across Pakistan, supplemented by an online currency converter tool for rate calculations. The company is licensed by the State Bank of Pakistan and serves retail customers seeking competitive exchange rates and reliable fund transfer services.
Differentiator
Problem solved
Functional benefit
Products and services
- Home Remittance International remittance service enabling Pakistani customers to send and receive money from abroad through Western Union, MoneyGram, and Ria Money Transfer payout networks. Aimed at individual consumers and families needing cross-border money transfers.
- Foreign Currency Exchange Buy and sell foreign currency cash for individual consumers, travelers, and businesses. Available at 28+ Sadiq Exchange branches across Pakistan under State Bank of Pakistan licensing.
- Telegraphic Transfer Bank-style telegraphic transfer service for sending funds electronically to overseas beneficiaries. Targeted at individual consumers and businesses requiring formal, documented cross-border payments.
- Demand Drafts Issuance of demand drafts (paper-based payment instruments) payable at foreign destinations. Targeted at individual consumers and businesses needing documentary payment instruments for overseas transactions.
Companies that use Sadiq Exchange
Customer profileSegments2 records
Ideal customer profiles2 records
Sadiq Exchange technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Sadiq Exchange partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and flagship.
- Western UnioncoreWestern Union logo is displayed on the Sadiq Exchange website, indicating an authorized agent partnership. Sadiq Exchange acts as a sub-agent/partner enabling customers to send and receive international remittances through the Western Union global network.
- MoneyGramcoreMoneyGram logo displayed on the website confirming an authorized partnership arrangement. Sadiq Exchange enables MoneyGram remittance transactions at its branch locations across Pakistan.
- Ria Money TransfercoreRia Money Transfer logo displayed on the website as an authorized partner. Sadiq Exchange offers Ria remittance services through its branch network in Pakistan.
- State Bank of PakistanflagshipRegulatory licensing authority. Sadiq Exchange Company was granted license by the State Bank of Pakistan on January 9, 2013 and operates under the guidelines laid down by the State Bank. The company is also a member of the Sohni Dharti IW申 program.
Scale indicators3 records
Recent moves8 records
Expansion highlights5 records
Sadiq Exchange competitors and assessment
Company assessmentEmerging players
- Remitly: Digital remittance platform serving the Pakistani diaspora with strong corridor presence. Represents the app-based threat that could erode branch-based exchange volume over time.
- Wise (formerly TransferWise): Global digital-first remittance and FX platform targeting diaspora corridors including Pakistan. Increasingly competitive with traditional branch-based exchange companies on price and convenience.
Broad incumbents
- Bank Alfalah: Pakistani commercial bank offering foreign currency exchange and remittance services through its branch network and digital channels, including Western Union agency. Overlaps with Sadiq in retail FX and inbound remittances.
- Habib Bank Limited (HBL): Pakistan's largest bank, offering foreign currency exchange, telegraphic transfers, and remittance services through an extensive branch network and Western Union/MoneyGram partnerships. Comparable as a regulated provider of FX and remittance services to Pakistani consumers and businesses.
- Meezan Bank: Leading Islamic bank in Pakistan providing foreign exchange and remittance services through a large branch network. Comparable as a regulated FX and remittance competitor with similar consumer remittance positioning.
- United Bank Limited (UBL): Major Pakistani bank with nationwide branches offering foreign exchange, demand drafts, and remittance services. Comparable because it competes with Sadiq for retail FX and remittance customers in Pakistan, though it operates across the full banking stack.
- Allied Bank Limited: Pakistani commercial bank offering foreign exchange, telegraphic transfers, and remittance services through its branch network. Competes with Sadiq for retail FX and remittance customers across Pakistani cities.
Direct peers
- Western Union: The world's largest cross-border money transfer network, operating in Pakistan through sub-agents like Sadiq. While Sadiq is a partner/sub-agent, Western Union is also the direct principal competing for the same inbound remittance flow into Pakistan.
- Ria Money Transfer: Cross-border remittance network with significant presence in Pakistan through authorized agents such as Sadiq. Both partners with and competes against licensed Pakistani exchange companies for diaspora remittance volumes.
- MoneyGram International: Global remittance network with operations in Pakistan through authorized agents including Sadiq Exchange. Functions as both an upstream partner and a direct competitor for cross-border remittance customers.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
Sadiq Exchange social profiles
Digital presenceSadiq Exchange financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sadiq Exchange leadership team
Management profileNumber of profiles
Profiles1 record
Sadiq Exchange funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sadiq 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 Sadiq Exchange
What does Sadiq Exchange do?
Sadiq Exchange is a State Bank of Pakistan-licensed currency exchange company that provides home remittance services, foreign currency exchange, telegraphic transfers, and demand drafts to individuals and businesses through more than 28 branches across Pakistan. The company acts as a payout agent for Western Union, MoneyGram, and Ria Money Transfer, enabling customers to send and receive international remittances, and it supplements its physical services with an online currency converter on its website.
Is Sadiq Exchange a public or private company?
Sadiq Exchange is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Sadiq Exchange founded?
Sadiq Exchange was founded in 2011. It employs 251 to 500 people.
Where is Sadiq Exchange based?
Sadiq Exchange is headquartered in Gujrat, Pakistan, in the Asia region.
How does Sadiq Exchange make money?
Two revenue lines are on record. Currency Exchange Spread is the primary driver. The others are remittance Services Commission.
Who are Sadiq Exchange's main competitors?
Emerging players on record are Remitly and Wise (formerly TransferWise). Broad incumbents are Bank Alfalah, Habib Bank Limited (HBL), Meezan Bank, United Bank Limited (UBL) and Allied Bank Limited. Direct peers are Western Union, Ria Money Transfer and MoneyGram International.
Does Sadiq Exchange have an API?
No public API is recorded for Sadiq Exchange.
What industry is Sadiq Exchange in?
Sadiq Exchange's product category is Currency Exchange & Remittance Services. Its primary akta.pro industry code is FSABAAAK, Remittances & Retail FX (Consumer Cross-Border), with a secondary code of FSAGAKAH, Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity). Its NAICS code is 522320 and its SIC code is 6199.