Aswaaq Nad Al Hamar leased out

September 24 ^th 2008:
Dubai
aswaaq, a Public Joint Stock Company (under formation) has signed a partnership agreement with the Wall Street Exchange Company (WSEC), a subsidiary of Emirates Post Holding Group. The agreement stipulates leasing spaces to accommodate WSEC's outlets in aswaaq community centers all around Dubai.

As a first step two 115-sq ft and 504-sq ft Wall Street outlets will be opened respectively in aswaaq's Nad Al Hamar and Al Mazhar centers, which are due to opening in the coming months.

The agreement has been signed by Mr. Abdul Baset Al Janahi, aswaaq's CEO, and Abdul Basit Al Suwaidi, WSEC's CEO, in presence of a number of officials from both sides.

In his comment on this move, Al Janahi said: "In aswaaq we strive to partner with prestigious companies and firms and attract them to open their outlets in our community centers with the aim of providing shoppers with the best services that meet their needs. This is the drive for the agreement with Wall Street, the leading company in exchange services that has been offering unique and innovative financial services in the UAE for more than 25 years."

"Wall Street was chosen to be present in aswaaq's community centers due to its vast experience in offering high level services through numerous outlets in the UAE and abroad. It has established close ties with hundreds of global banks and financial businesses all over the world. In addition, it is also contributing effectively to the UAE community through many important initiatives that focus on employing UAE nationals, supporting the youth and offering them the opportunity to be trained in the financial services field." Al Janahi added.

Al Janahi further stressed aswaaq's effort to make accurate and diversified choices of companies and firms to be housed in its community centers. He pointed out that aswaaq studies the surrounding area needs before leasing any space in its centers.

On his part, Abdul Basit Al Suwaidi, CEO of Wall Street Exchange, expressed pleasure for signing this agreement which offers the chance for the presence of Wall Street outlets in aswaaq's centres to provide shoppers with financial services. He also noted that this step will extend the Wall Street Exchange presence in many populated areas of Dubai where aswaaq's community centers will be opened.

Al Suwaidi said: "Wall Street Exchange Company is well tied with hundreds of global banks and financial businesses all over the world. It also owns a circulation room specialized in selling and purchasing foreign currencies on the world markets and equipped with the latest and state-of-art systems. The company is also extremely committed to apply the Central Bank's rules and regulations concerning money laundering. It offers a variety of high standard services such as: Sale and purchase of currencies- wholesale and retail; Money transfer for individuals and businesses including: telegraphs, draft, Instant Cash, Western Union, bank account transfers, traveler's cheques; and the services of National Bonds, Postcard Millionaire and Credit Card Bills Collection."