Al Ansari Exchange Launches Cash Payout Service for ILOE Claims in Collaboration with Insurance Pool
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. The service, developed in collaboration with the ILOE Insurance Pool PSC, is now available across more than 270 Al Ansari Exchange branches nationwide.
The initiative is part of Al Ansari Exchange’s commitment to broadening access to financial services and offering integrated support to policyholders enrolled in the ILOE scheme. Supervised by the UAE Ministry of Human Resources and Emiratisation, the ILOE program provides eligible insured individuals with temporary financial assistance during periods 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 ensures that ILOE beneficiaries receive timely financial support with the added convenience of our wide branch network.”
Previously known for facilitating premium collection under the ILOE scheme, Al Ansari Exchange now offers direct cash disbursement of approved claims, providing an additional convenient option for beneficiaries to access their compensation quickly and securely.
Abdellatif Abuqurah, Chairman of the ILOE Insurance Pool, highlighted the significance of the new service, stating, “This service provides an important additional channel for paying ILOE claims, facilitating quicker access to compensation for subscribers. It also reflects our commitment to delivering high-quality service in line with government directives.”
To claim compensation, insured individuals must submit their application within 30 days of job loss via the official ILOE website, mobile application, or by contacting the ILOE call centre at 600599555. Once approved, they can receive their compensation in cash from any Al Ansari Exchange branch across the UAE.
This partnership and service expansion reflect Al Ansari Exchange’s ongoing efforts to support the financial resilience of the UAE’s workforce by offering inclusive, customer-focused solutions that meet the dynamic needs of the community.
