KEY PRODUCTS & SERVICES

Al Bader Exchange offers the following services to provide customers across the United Arab Emirates with fast, safe, and reliable foreign currency exchange solutions:

EXCHANGE PRICING

Foreign currency is exchanged based on the prevailing rate on the day and times of the transaction.

Note: 5% VAT is applicable on all charges.

PROCESS & CUSTOMER RESPONSIBILITIES

• Services are provided during branch operating hours and subject to currency availability.
• Customers must ensure sufficient funds before initiating any foreign exchange transaction.
• Once a transaction is completed, it cannot be cancelled.
• Exchange rates agreed upon at the time of the transaction are final and non-negotiable.
• Repurchasing currency after a transaction may be subject to prevailing rates at that time.
• Al Bader Exchange will not accept complaints about currency discrepancies after leaving the Teller counter.

IMPORTANT WARNINGS

• Exchange rates may fluctuate and impact on the value of your transaction.
• Currencies once exchanged will be repurchased only at the prevailing buying rate.
• Any request for amendment will be subject to applicable charges and rate differences.
• Inaccurate or incomplete information may result in penalties, delays, or rejection of transaction.
• Al Bader Exchange reserves the right to accept or decline service requests at its discretion, especially in cases of non-compliance with procedures or UAE regulations.
• Transaction may be prohibited, delayed, held, fund frozen or cancelled due to regulatory or compliance checks.
• Al Bader Exchange reserves the unilateral right to terminate or suspend access to their services for customers who violate any provision of these terms and conditions and engage in fraudulent or suspicious activities.
• In compliance with the Consumer Protection Standards issued by the Central Bank of the UAE (CBUAE), a cooling-off period of five (5) business days applies to all products offered by Al Bader Exchange. However, due to the instant nature of remittance services, customers may expressly choose to waive this right.
• Al Bader Exchange shall be responsible for safeguarding consumers’ data and ensuring its confidentiality, whether held internally or with a third party. Data will only be disclosed to authorize, facilitate, administer, or process applications/transactions, or to respond to inquiries from relevant law enforcement authorities, both within and outside the UAE. In the event of any data breach, customers will be promptly notified through our official communication channels.
• Al Bader Exchange, as a Licensed Financial Institution, will provide Consumers with a minimum of sixty (60) calendar days’ notice prior to implementing any permissible changes to the terms and conditions of a Financial Product and/or Service, as well as any changes to applicable Fees.

Note: Al Bader Exchange is licensed and regulated by the Central Bank of the UAE. This Key Facts Statement is issued in accordance with the Consumer Protection Regulation and related Standards.