Haj Hasan Ibrahim Al Fardan’s journey began in the world of pearl trading, following in the footsteps of generations who relied on the sea for their livelihood. As one of the UAE’s last true pearl merchants, he safeguarded the traditions of the nation’s historic pearling industry while guiding Al Fardan Group toward growth and diversification.
In 1954, he established Al Fardan Group, laying the foundation for one of the UAE’s most respected family business conglomerates. What began with pearl trading evolved into a diversified enterprise spanning financial services, exchange, real estate, and investments.
Beyond business, Haj Hasan Ibrahim Al Fardan was a mentor, a leader, and a pillar of the community. His unwavering commitment to trust, integrity, and excellence shaped Al Fardan Group into a global brand while preserving its deep-rooted family values.
His dedication to innovation, social responsibility and cultural preservation has left a lasting impact that will be remembered for years to come.
As we mourn this significant loss, we also celebrate the life of a man who dedicated himself to progress, tradition, and excellence. To honour his legacy, Al Fardan Group remains committed to upholding his vision, embracing innovation while staying true to the values he championed.
Al Fardan Exchange - Sole Proprietorship L.L.C. is Licensed by the Central Bank of the UAE.
Copyright © Al Fardan Exchange - Sole Proprietorship L.L.C. All rights reserved.
Built with love in Dubai.
In the present Terms and Conditions, the terms “AFEX”, “we”, “us”, “our” refer to Al Fardan Exchange LLC and “you”, “your” refer to any person who accesses and/or uses the Service as a Sender.
It is important that you understand that access and use of the Service is conditional on your acceptance of the present Terms and Conditions. At all times, may you request to receive a copy of these Terms and Conditions via post or email. Please send an email to customercare@alfardanexchange.com ordownload it from www.alfapay.com
Please note that the Terms and Conditions are subject to periodic changes at the sole discretion of Al Fardan Exchange LLC.
“Compliance Officer” means one or more members of staff at AFEX who is responsible for compliance with Money Transfer Regulations, anti-money laundering legislation and other applicable laws.
“Fees” means the charges and fees we charge to you for the Service, as applicable, in accordance with the prices or rates that we communicate to you before we issue a Confirmation, or as provided in these Terms and Conditions;
“Force Majeure Event” means any of the circumstances beyond our control
“FX Spread” is where you pay for a transaction in one currency and it is paid out in another currency, we apply an FX spread. The FX spread is the difference between the exchange rate we buy the currency in and the exchange rate we are able to provide to you and we communicated it in the order confirmation and it covers our costs plus a small margin.
“Malicious Code” means computer viruses, Trojans, software locks, drop-dead devices, malicious logic or trap door, worms, time bombs, corrupted files or other computer programme routines that are intended to delete, disable, deactivate, damage, detrimentally interfere with, surreptitiously intercept or expropriate any systems, data, personal information or property of another;
“Money Transfer Regulations” means the applicable laws of the United Arab Emirates and/or of the country where funds are intended to be received.
“Prohibited purpose” means any unlawful purpose (whether such illegality arises in the country from which the funds are transferred or where they are intended to be received or in any territory with jurisdiction over the Sender or the Receiver) including, without limitation, the transfer or receipt of payment for illegal activities, the transfer of funds which constitute proceeds of crime or money laundering or which are obtained by illegal activity, the transfer of funds for the purpose of funding illegal activity, the transfer of funds for the purpose of avoiding the seizure of such funds by law enforcement authorities or under orders of any court of law, and any transfer of funds without the permission of their owner;
“Beneficiary” means the person who receives (or intends to receive) the money through the Service,
“Reference Number” means the unique transaction number, which will be issued to you and which the beneficiary will be required to provide to our partners in order to receive the amount transferred,
“Sender” or “Remitter” means the person who initiates the carrying out of a money transfer through the Service,
“Service” means such service you connect to via the App and any content we provide to you through it.
as permitted in these terms.
“Transaction” means every money transfer that you initiate using the Service and/or every other use that you make of the Service,
“Website” means the website www.alfardanexchange.com operated by AFEX to provide online money transfer services and the related information.
Who we are and what this agreement does
We Al Fardan Exchange LLC,a company incorporated under the laws of UAE, having commercial licence number CN-1027256 and its registered office at Amin Khoury Building, Liwa Street, Abu Dhabi, United Arab Emirates, license you to use:
Your privacy
Under data protection legislation, we are required to provide you with certain information including who we are, how we process your personal data and for what purposes and your rights in relation to your personal data and how to exercise them. This information is provided at www.alfapay.com and it is important that you read that information.
Other terms may also apply
The ways in which you can use the App and Documentation may also be controlled by the rules and policies applied by each of the App Store (re: Apple devices); Google Play (re: Android devices); or App Gallery (re: Huawei devices); or the “Aani Application” (provided by Al Etihad Payment Company). Further information on any such rules and policies can be found at those sites.
Specific terms and conditions relating to the Services are set out below.
How you may use the App, including how many devices you may use it on
In return for your agreeing to comply with these terms you may:
You must be 18 to accept these terms and buy the App
You must be 18 or over to accept these terms and buy the App.
You may not transfer the App to someone else
We are giving you personally the right to use the App and the Service as set out above. Whilst you may have sharing rights as set out above, you may not otherwise transfer the App or the Service to someone else, whether for money, for anything else or for free. If you sell any device on which the App is installed, you must remove the App from it.
Changes to these terms
We may need to change these terms to reflect changes in law or best practice or to deal with additional features which we introduce from time to time.
We will give you at least [30] days’ notice of any change by sending you an SMS with details of the change or notifying you of a change when you next start the App.
If you do not accept the notified changes you may continue to use the App and the Service in accordance with the existing terms but certain new features may not be available to you.
Update to the App and changes to the Service
From time to time we may automatically update the App and change the Service to improve performance, enhance functionality, reflect changes to the operating system or address security issues. Alternatively we may ask you to update the App for these reasons.
If you choose not to install such updates or if you opt out of automatic updates you may not be able to continue using the App and the Services.
If someone else owns the phone or device you are using
If you download or stream the App onto any phone or other device not owned by you, you must have the owner's permission to do so. You will be responsible for complying with these terms, whether or not you own the phone or other device.
We are not responsible for other websites you link to
The App or any Service may contain links to other independent websites which are not provided by us. Such independent sites are not under our control, and we are not responsible for and have not checked and approved their content or their privacy policies (if any).
You will need to make your own independent judgement about whether to use any such independent sites, including whether to buy any products or services offered by them.
Licence restrictions
You agree that you will:
Acceptable use restrictions
You must:
Intellectual property rights
All intellectual property rights in the App, the Documentation and the Services throughout the world belong to us (or our licensors) and the rights in the App and the Services are licensed (not sold) to you. You have no intellectual property rights in, or to, the App, the Documentation or the Services other than the right to use them in accordance with these terms.
We are responsible to you for foreseeable loss and damage caused by us.
If we fail to comply with these terms, we are responsible for loss or damage you suffer that is a foreseeable result of our breaking these terms or our failing to use reasonable care and skill, but we are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time you accepted these terms, both we and you knew it might happen.
We do not exclude or limit in any way our liability to you where it would be unlawful to do so.
This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors or for fraud or fraudulent misrepresentation.
When we are liable for damage to your property
If defective digital content that we have supplied damages a device or digital content belonging to you, we will either repair the damage or pay you compensation. However, we will not be liable for damage that you could have avoided by following our advice to apply an update offered to you free of charge or for damage that was caused by you failing to correctly follow installation instructions or to have in place the minimum system requirements advised by us.
We are not liable for business losses.
The App is for domestic and private use. If you use the App for any commercial, business or resale purpose we will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
Limitations to the App and the Services.
The App and the Services are provided for general information and entertainment purposes only. They do not offer advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of information obtained from the App or the Service. Although we make reasonable efforts to update the information provided by the App and the Service, we make no representations, warranties or guarantees, whether express or implied, that such information is accurate, complete or up to date.
Please back-up content and data used with the App.
We recommend that you back up any content and data used in connection with the App, to protect yourself in case of problems with the App or the Service.
Check that the App and the Services are suitable for you.
The App and the Services have not been developed to meet your individual requirements. Please check that the facilities and functions of the App and the Services (as described on the appstore site and in the Documentation) meet your requirements.
We are not responsible for events outside our control.
If our provision of the Services or support for the App or the Services is delayed by an event outside our control then we will contact you as soon as possible to let you know and we will take steps to minimise the effect of the delay. Provided we do this we will not be liable for delays caused by the event but if there is a risk of substantial delay you may contact us to end your contract with us and receive a refund for any Services you have paid for but not received.
We may end your rights to use the App and the Services if you break these terms
We may end your rights to use the App and Services at any time by contacting you if you have broken these terms in a serious way. If what you have done can be put right we will give you a reasonable opportunity to do so.
If we end your rights to use the App and Services:
We may transfer this agreement to someone else
We may transfer our rights and obligations under these terms to another organisation. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under the contract.
You need our consent to transfer your rights to someone else
You may only transfer your rights or your obligations under these terms to another person if we agree in writing.
No rights for third parties
This agreement does not give rise to any rightsto enforce any term of this agreement.
If a court finds part of this contract illegal, the rest will continue in force
Each of the paragraphs of these terms operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.
Even if we delay in enforcing this contract, we can still enforce it later
Even if we delay in enforcing this agreement, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under these terms, or if we delay in taking steps against you in respect of your breaking this agreement, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date.
Which laws apply to this agreement and where you may bring legal proceedings
These terms are governed by the laws of the DIFC and you can bring legal proceedings in respect of the products in the DIFC courts.
Retention of Information
We are legally obliged to retain information about our customers and each Transaction that we process for up to 5 years after termination of our relationship with you or as may be required from time to time by applicable law or by any regulatory authorities.
All currency converted as part of the Service will be converted using our rate of exchange as communicated to you during the transaction and a FX Spread may apply. We reserve the right to make changes to our rate of exchange at any time without providing notice.
Some countries may impose minimum and maximum thresholds in relation to the amounts that can be sent through our Service.
You will be liable to us for all losses which we suffer or incur in relation to any fraud or fraudulent activity by you or any breach of the Terms and Conditions by you.
You must contact us as soon as possible if you believe or suspect that a Transaction was not executed properly or that the amount has not been received or was only partly received.
It is your responsibility to inform the Beneficiary of the information he/she will need to provide in order to collect the money you transfer through the Service (such as photographic identification, the exact amount of remittance and the Transaction Reference Number).
Fees and payment methods
The prices for the Service consist of FX Spread and the Fees.
Our Fees might vary from time to time, but changes in the Fees will not apply to any orders in respect for which we have already sent you the Confirmation.
You can pay through various options specified below:
Please note that additional charges might apply based on the type of payment method selected.
We are not liable for any additional fees that the banks (either on the sending or receiving side) may charge.
Promotional Discounts on our Fees may be available through promotions that we or our partners may offer from time to time. Promotions are subject to terms and conditions and will be honoured in accordance with their published terms.
Cancellations and refunds
You can request for cancellations and refunds by emailing us at customercare@alfardanexchange.com.
Please note that cancellations and refunds would be processed at the discretion of AFEX.
Cancellations or Refunds can take up to 14 business days to be processed where accepted and this solely depends on the counterparties which are beyond our control.
Additional charges might apply for cancellations and refund requests.
The channel of refunds would be decided by AFEX depending upon the payment method you have used during the original transaction.
Confidentiality/ Privacy
As a fully regulated institution under the Supervision of the Central Bank of the UAE and with a purpose of providing the Service we are bound by the legal requirements to obtain, verify and record information about our customers. Therefore, we may request from you or consult any legal sources to obtain your personal data and required KYC information when offering the Service to you.
Your personal information will be treated and processed securely and strictly in accordance with applicable data privacy and protection laws and regulations.
Customer information will be treated as confidential, unless where it is already public knowledge or where it becomes public knowledge through no fault of our own.
We may disclose customer information if we are required to do so by law, by our financial partners in order for them to fulfil their regulatory obligations, by court order, by any statutory, legal or regulatory requirement, by the police or any other competent authorities in connection with the prevention or detection of crime or to help combat fraud, money laundering and terrorism financing. We may also report suspicious activity to appropriate competent law enforcement or government authorities.
Please refer to our Privacy Policy document available on our website www.alfapay.com.
Complaints, Feedback or Suggestions
You can email us or contact us as below:
Email: customercare@alfardanexchange.com
Tel : +971 600 522 265
Please note that the updates to Transaction Complaints might take up to 15 business days depending upon the response time from counterparties.
Written communications
Applicable laws and regulations require that some of the information we send to you or communications between you and us should be in writing. You agree to receive such written communications electronically. You also agree that electronic means of communication shall be effective for the purpose of the Contract between you and us. The foregoing does not affect your statutory rights.
Warning
Additional fees may be levied by the correspondent bank/financial institution or entity providing financial services to the beneficiary of remittances.
Penalties and Fees may be applied if there is a customer error or omission in providing correct or incomplete information for remittances
This product/service may be affected by changes in foreign currency exchange rates.
The actual time to complete a transaction may differ from estimates due to increased scrutiny of transactions by the correspondent bank/financial institution or entity providing financial services to beneficiary of remittances.
Pricing
| AANI App Pricing | |||
| Payment Type | Transfer Limit | Outward (Charges in AED) |
Inward (Charges in AED) |
| P2P | AED 2,000 / day | 3.00 | 1.00 |
| P2B | AED 2,000 / day | s1.00 | 1.00 |
