For the last few decades Dubai’s economy has dramatically increased relying great portion of it on foreign exchange and remittance. The location of Dubai being an exporting center in the Middle East plays an important role in growing economy. It also relies on oil exploration, commerce and real estate to make the dynamic and diversified economy. The government has firm commitment in developing Dubai from various aspect of economy growth which is increasing time to time. The rules and regulations of business set up are well defined with some legal frame work. The rights of ownership for foreigners are set to 50% which are operating in Dubai. To attract foreigners from various parts of the world Dubai’s economy has become open source for many investors.
The people from various ethnicities, tourists and businessmen have been addressed by the exchange and remittance industry successfully according to their needs. Dubai being a major business center has some unique features like other companies dealing in money exchange, the exchange industry in Dubai has become the first place when it comes to transfer large volumes of remittances through proper official chancels in exchange companies. The average amount being transferred annually by the working official to the markets of their home countries could be more than $15 billion. The exchange companies also have good relations with some other companies maintaining basic facilities in order to provide customer stratification services all at one place.
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