Al Ansari Exchange, the UAE’s leading remittance and foreign exchange company, has introduced a new cash payout service for Involuntary Loss of Employment (ILOE) insurance claims in partnership with the ILOE’s Insurance Pool PSC. The service is now available across more than 270 Al Ansari Exchange branches nationwide.
This initiative aligns with Al Ansari Exchange’s strategy to expand its portfolio of accessible and inclusive financial services, aiming to provide integrated solutions for insured individuals under the ILOE scheme supervised by the Ministry of Human Resources and Emiratisation, which offers eligible insured individuals cash compensation for a limited period in the event of unemployment.
“Providing accessible financial solutions to individuals across all segments of society is at the heart of our mission,” said Ali Al Najjar, Chief Operating Officer of Al Ansari Exchange. “This new cash payout service for ILOE claims ensures that beneficiaries receive timely support when they need it most, with the added convenience of our nationwide network.”
As one of the channels for premium collections under the ILOE scheme managed by ILOE Insurance Pool, Al Ansari Exchange now extends its services to allow customers to conveniently collect their claims payout in cash at any of its branches across the UAE.
“This service will provide an important additional channel for paying ILOE’s claims, thus facilitating access to compensation for subscribers,” said Abdellatif Abuqurah, Chairman of ILOE’s Insurance Pool. “This reflects the ILOE’s Insurance Pool commitment to providing the highest quality standards for services in line with the government’s directives.”
The insured individuals must submit their claims within 30 days from the date of unemployment through the ILOE Scheme website, the ILOE mobile application. Customers can also check the status of their claims through these channels to complete the process of receiving their compensation upon approval.
This new service underscores Al Ansari Exchange’s role in supporting the financial well-being of the workforce in the UAE, reinforcing its mission to deliver customer-centric solutions that respond to evolving community needs.
