Amal Express
|
An Amal Express money transfer branch in Garowe. | |
| Private | |
| Industry | finance, real estate |
| Founded | 1997 |
| Headquarters | Dubai, United Arab Emirates |
| Products | informal banking, money transfer, Forex, real estate |
| Revenue | over $30 million; $5 million capital base |
Number of employees | over 1000 worldwide |
| Website |
www |
Amal Express is a Somali money transfer company. Based in Dubai, United Arab Emirates, it is the second largest remittance firm serving Somalia.
Overview
Amal Express is part of the Amal Group. Its parent company was established in the late 1990s by seven Somali entrepreneurs, through the merger of a number of money transfer operators.
The Amal Group consists of the holding company AGC and many wholly owned companies and subsidiaries. The latter include Amal Express General Trading in Dubai (HQ), Amal Express SARL in Djibouti, Amal Money Wire and Amal USA Inc.
Based in Dubai, the Amal Group currently specializes in money transfer, informal banking in Somalia, Forex bureaus and real estate. It has assets totaling more than $30 million, and a capital base of over $5 million.
A Board of Directors consisting of the seven founders oversees the Group's commercial affairs. It supervises the executive management, which runs the day-to-day business activities.
Amal Express has more than 300 agent locations in various parts of Africa, the Middle East, East Asia, Europe, North America and Oceania. Senior personnel manage each branch, with regional representatives overseeing customer service.
Additionally, the Amal Group is slated to venture into new business fields, including power generation, trade finance and microfinance.