After Oil, the next best successful business in UAE appears to be the exchange houses. Thanks to the predominant presence of South Asian community, who typically send their earnings to their home countries – these exchange houses do brisk business all through the day. In the downtown area of Abu Dhabi where I live in, the streets are literally peppered with exchange houses under some banner or other.
UAE Exchange seems to be the market leader here. In either side of the building I live in, UAE Exchange have got branches. Don’t understand the logic of having two branches adjacent to each other. I am sure someone in that organization would have done their maths.
Talking to few of the acquaintances here, they all have their favourites and they back their preferences with some strong logic too. Personally though, I haven’t used these exchange houses, as I work for a bank and it doesn’t make economical sense for me to use one of these blokes. The exchange houses in UAE, the way people prefer one over the other would one day make an interesting case study.