Alfardan Exchange Inaugurates The Comprehensive Digital Experience Across All Its Branches In Qatar

In a first-of-its-kind initiative in the Exchange Industry across Qatar and the Middle East, Alfardan Exchange inaugurated its Comprehensive Digital Experience at the City Centre Mall branch on Wednesday, February 26, 2025, which coincides with Qatar Environment Day.

This marks the beginning of an innovative digital transformation being implemented across all branches of Alfardan Exchange in Qatar. The event was attended by Mr. Fahad Hussein Alfardan, President of Alfardan Exchange, Mr. Bashar Al Waqfi, CEO of Alfardan Exchange, Dr. M’an Alhamawi, Chairman of the Sustainability Committee and CEO of Alfardan Automotive, Mr. Ahmad Nassar, Vice Chairman of the Sustainability Committee and CFO of Alfardan Group, as well as a representative from the Ministry of Environment and Climate Change.

Alfardan Exchange clients can now enjoy a comprehensive digital experience. This includes the ability to use digital signatures and receive receipts via WhatsApp or email across all branches. This new system provides a faster, more efficient, and eco-friendly alternative to traditional paper-based transactions.  

This strategic move is set to significantly reduce paper usage, eliminating 4 million paper forms and documents annually. This shift will save approximately 240 trees, preserve 214 thousand gallons of water, and reduce paper and plastic waste by 12 tonnes each year. Additionally, it will reduce carbon dioxide emissions by approximately 41 thousand cubic meters annually.  

Commenting on this initiative, Mr. Fahad Hussein Alfardan, President of Alfardan Exchange: "This initiative reflects our dedication to sustainability and the optimal use of natural resources. The Digital Experience marks a key step in our commitment to delivering more advanced financial services. I would like to sincerely thank Qatar Central Bank for their support in enhancing service quality and driving innovation within the exchange industry. I also extend my gratitude to the Ministry of Environment and Climate Change for their valuable support of this initiative.”

Mr. Bashar Al Waqfi, CEO of Alfardan Exchange, added, "We are proud of this pioneering step in our digital transformation journey. The digital experience is a perfect blend of improving client experience and supporting environmental sustainability. This move highlights our commitment to reducing waste and improving operational efficiency, placing us at the forefront of innovation in the exchange industry." 

This initiative was carried out in partnership with the Swiss company Euronovate Group, a global leader in digital transformation and digital identity management solutions. The project was also supported by Euronovate’s regional representative, Business Consult, which played a crucial role in its development and implementation. Euronovate Group is a trusted partner for companies worldwide, offering advanced solutions for digital signatures and secure document management, with a strong focus on improving operational efficiency and promoting environmental sustainability. The group is renowned for designing cutting-edge technologies and tablets in Switzerland, which are then manufactured in Italy.

Alfardan Exchange has received several prestigious awards, including recognition by Forbes Middle East as one of the Top Digital Exchange Companies in Qatar and the GCC. The company was also recently awarded the 2024 Arab Banking Excellence and Achievement Award from the World Union of Arab Bankers, named the Most Reliable Company Specialized in Money Transfer in Qatar.  

Read the article in Gulf Times Newspaper