UAE Exchange Shuffles Executive Board, Promotes Promoth Manghat

UAE Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, a global remittance and foreign exchange (FX) business, has named Promoth Manghat as its newest Chief Executive, along with a series of changes to its board, according to a UAE statement.

Mr. Manghat has been promoted to the role of Chief Executive, following a stint as UAE Exchange’s Deputy Chief Executive. In his new role he will help foster continued growth for the exchange across its regional and global business operations. He first joined UAE Exchange back in 2001, having since helped in various accounting, finance, and most recently executive level roles.

Additionally, the UAE Exchange has tapped founder Bavaguthu Raghuram Shetty as its Chairman of the Board with immediate effect. The board has also been shuffled, culminating in the appointment of Nabeel Abdul Rahman as its Vice-Chairman. Mr. Rahman joins UAE Exchange from KBBO Group, having previously served as its Chief Executive.

UAE Exchange is an Abu Dhabi-based group that deals principally in remittance, currency exchange, and bill payment solutions. Earlier this year, UAE Exchange made headlines after merging with FX firm Travelex, following a sale of $1.2 billion in January. Prior to the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term, Travelex was one of the largest FX units, which helped diversify the growth trajectory of the now consolidated UAE Exchange group.