About BFC Group Holdings
BFC Group Holdings is a financial services group that started in Bahrain, where BFC Exchange is one of the best-known money exchange and remittance brands. The group has grown its presence in other Gulf markets.
Its business centres on remittances and currency exchange. Like exchange houses across the region, BFC serves expatriate workers sending money home, as well as travellers and businesses that need foreign currency.
Over time, the group has added digital payments services, including mobile apps for transfers, prepaid cards and payment solutions for businesses.
Exchange groups in the Gulf have been investing in technology as banks, fintech companies and global remittance apps compete for the same customers.
Regional expansion is common in this sector, since the same migrant corridors connect the Gulf countries with South Asia, Southeast Asia and Africa.
In each market, exchange businesses must be licensed by the central bank and comply with strict anti-money laundering rules.
BFC Group Holdings is a Bahrain-founded company rather than a UAE startup, and Startups UAE includes it among the remittance groups active in the Gulf.
Its business centres on remittances and currency exchange. Like exchange houses across the region, BFC serves expatriate workers sending money home, as well as travellers and businesses that need foreign currency.
Over time, the group has added digital payments services, including mobile apps for transfers, prepaid cards and payment solutions for businesses.
Exchange groups in the Gulf have been investing in technology as banks, fintech companies and global remittance apps compete for the same customers.
Regional expansion is common in this sector, since the same migrant corridors connect the Gulf countries with South Asia, Southeast Asia and Africa.
In each market, exchange businesses must be licensed by the central bank and comply with strict anti-money laundering rules.
BFC Group Holdings is a Bahrain-founded company rather than a UAE startup, and Startups UAE includes it among the remittance groups active in the Gulf.