Kuwait based Al Mulla Exchange found its way to Forbes’ latest list of ‘Top 5 GCC Exchange Houses Going Digital’.

The list shines the spotlight on remittance companies in the GCC region that have been aggressively pushing for digitization of their services, in line with the efforts of their respective nations.

In a major acknowledgment of the UAE’s robust cross-border payments sector, digital transformation drive and world-class regulations, two of its leading exchange houses – LuLu Exchange and Al Ansari Exchange, are in the list followed by one each from Kuwait, Qatar and Oman.

Qatar based Alfardan Exchange, and Oman based Purshottam Kanji Exchange are the other companies in this list.

All five companies in the list are legacy institutions, having provided high quality services to both retail consumers and businesses over several years. They have been in news recently for their aggressive digital push and digital infrastructure investments. The companies were evaluated by Forbes on the number of app downloads, number of users and annual volume of digitally conducted transactions.