Al Ansari Financial Services completes $200 million acquisition of Bahrain’s BFC Group

Al Ansari Financial Services (AAFS), one of the UAE’s leading financial services providers, has finalized its acquisition of Bahrain-based BFC Group Holdings (BFCGH) for $200 million (AED 735 million). This landmark transaction positions AAFS as the largest remittance and foreign exchange provider in the Gulf Cooperation Council (GCC) region by branch network, marking a significant milestone in its expansion strategy. Strategic Expansion Across GCC and India The acquisition is set to transform AAFS’s geographic footprint, adding more than 160 branches of BFCGH to its existing network. With this move, AAFS will operate over 410 branches across the UAE, Bahrain, Kuwait, and India—a 60% increase in its branch network. This expansion solidifies AAFS’s leadership in the financial services sector and enhances its ability to serve diverse markets within the GCC and beyond. Rashed Ali Al Ansari, group CEO of AAFS, emphasized the strategic importance of this acquisition: “By broadening our customer base and extending our services across the GCC and India, we aim to provide a wider audience with access to our comprehensive remittance