EbixCash Signs Strategic Partnership Agreement with Al Fardan Exchange, UAE

EbixCash Limited, a technology enabled provider of digital products and services in the B2C, B2B and financial technology arena, announced that its Foreign Exchange Division – EbixCash World Money, has signed a strategic partnership agreement with Al Fardan Exchange LLC, UAE for import and export of Foreign Currency Banknotes. The agreement was inked by Mr. Hasan Jaber Al Fardan, Deputy Chief Executive Officer – Business Strategy, Al Fardan Exchange LLC and Mr. T.C. Guruprasad, Managing Director, EbixCash Payment Solutions Division in the presence of senior management teams of both the entities.

EbixCash Limited is a subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries.

Al Fardan Exchange, a member of the multi- dimensional Al Fardan Group, established in the year 1971 is the first and one of the largest exchange houses in the UAE. Al Fardan Exchange, through its 70-plus strong network across Emirates, serves the cosmopolitan community of the UAE.

T C Guruprasad, Managing Director, EbixCash World Money, said, “We are excited to be formally announcing a strategic partnership with Al Fardan Exchange, LLC, UAE for import and export of foreign currency banknotes. The partnership will allow us to source and sell foreign currency banknotes in the most convenient and hassle-free manner to and from India to the UAE. This will provide us a competitive edge in pricing and logistics, which will help us service our large banknote client base more efficiently.”

EbixCash World Money, the foreign exchange division of EbixCash Limited holds a leadership position in foreign exchange business in India, with a vast network encompassing 81+ retail branches, 250 franchisee partners and duty-free shops, 27+ bank clients, 1200+ corporate clients including top fortune 500 clients and 5-star hotels in India. EbixCash World Money is also a leading player in India’s airport and seaport Money Exchange business with retail kiosks in 16+ international airports, and 12 seaports.

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