After beginning his commercial career in 1952 with Eastern Bank – now known as Standard Chartered – as Qatar’s first banker, Hussain Alfardan gained valuable insights into many businesses and decided to apply his knowledge to Alfardan Exchange. Established in 1971, Alfardan Exchange aimed to meet the demands of a country witnessing the rapid influx of overseas labour. It introduced a wide range of financial services offering a faster and cheaper alternative to those offered by conventional banks.
A leader in technology investment, Alfardan Exchange was the first financial house in Qatar to adopt computerised transfers. It was also the first to fully prioritize customer care and service. The best rates, low margins and a personal touch made the business the number one exchange house in the country.
It is a people’s exchange in every sense, paying paramount attention to customer as practiced by every Alfardan business. The division has branches throughout Qatar, and associates and corresponding banks around the world, providing unrivalled financial services to its valued customers.
Managed by its president Fahad Alfardan, Alfardan Exchange was also a key source of financing for Alfardan business interests during the early days of the Group.