Delmon Exchange is a leading Money Transfer & Foreign Exchange firm based in Bahrain. Founded in 1979 by Mr. Saeed Salman Al Sairafi, the company was established to facilitate the process of remittance and currency exchange catering to both the retail and corporate sectors.
The name Delmon Exchange represents the ancient Dilmun civilization in Bahrain.
Dilmun was an important trading hub, which controlled the Persian Gulf trading routes. With over four decades of service excellence in the industry,
The company has emerged to be one of the most trusted and regionally recognized
money exchange portals in Bahrain. Our professional and highly committed team strives
to offer maximum value to our customers through constant innovation and hard work.
Today, the company is spearheaded by two eminent personalities, Mr. Saeed Salman
Al Sairafi, Founder & Chairman and Mr. Mohamed Saeed Al Sairafi, Managing Director,
Delmon Exchange. With his far-sighted leadership skills, Mr. Mohamed Saeed Al Sairafi
envisions to expand the business and strengthen its presence in the global market.
Chairman's message
At Delmon Exchange, customers comes first.
We understand that customer needs, expectations and preferences are constantly evolving in light of changing market dynamics. That is why we continuously create and introduce innovative financial solutions that set new benchmarks in quality and excellence.
We have over 40 years of experience in excellent customer service and we strongly believe that we didn’t achieve that success purely by measuring profitability, rather by focusing on how those figures are achieved, hence our commitment to provide world-class products and services to our customers with maximum comfort and convenience, using the cutting-edge technology.
We also seek to provide value to our employees, business partners, and stakeholders alike by making a friendly, understanding and committed environment.
We create a space for everyone to grow!
Meet Our Team Members
Mr. Saeed Al Sairafi
Founder & Chairman
Mr. Mohamed Saeed Al Sairafi
Managing Director
Mr. Muhammed Naveed Qamar
Compliance Manager
AML Policy
We, Delmon Exchange Co WLL, are committed to preventing money
laundering and terrorist financing, in accordance with the Central Bank’s
regulations and the best international practices in AML-CTF. To this effect,
we are fully prepared to detect suspicious activities associated with money
laundering, including tax evasion, fraud and terrorism financing, and report
them to the Central Bank of Bahrain, as per regulations. We at Delmon
Exchange are attuned to conducting business with integrity, within the
scope of the law, with security and in compliance with all applicable laws
and regulations.
Delmon Exchange is fully committed to adhering to local laws and regulations which reflect the relevant recommendations issued by the
Financial Action Task Force (FATF) and the Basel Statement of Principles on preventing the utilization of the banking system for criminal purposes, issued by the Basel Committee.
Delmon Exchange is also determined to examine and uphold its AntiMoney Laundering procedures and control, on an ongoing basis, by
applying for befitting internal and external audit programs.
Delmon Exchange adheres to the four pillars of an effective AML program:
Development of Internal Policies, Procedures and Related Controls
Designation of a Compliance Officer
A Thorough and Ongoing Training Program
Independent Review for Compliance.
Delmon Exchange’s policies against Money Laundering and Terrorism Financing ensure the highest standards of due diligence in relation to
“Know Your Customer (KYC) principles” and follow a strong identity verification procedure for customers irrespective of the amount involved in
the transaction. We consistently update our policies and systems to comply with the regulatory framework and appropriate guidelines issued by
the regulator from time to time.
Robust KYC (Know Your Customer) and KYCC (Know Your Customer’s
Customer) policies adhere at all levels. Identifying and conducting
Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)
wherever required is a normal process at Delmon Exchange for identifying
any sign of money laundering.
Customer Due Diligence (CDD) is a process of obtaining relevant details of the customer to ensure that they conduct the transactions in line with their
personal profile/business activities; thus, ensuring source of fund and purpose is legitimate as well as ensure that the transaction is in any way
not related to Money Laundering and Terrorist Financing.
Enhanced Due Diligence is to perform additional measures, besides the usual Customer Due Diligence. To know more about a customer and his
source of funds and to confirm that the transactions are within their means. To verify that funds are legitimate and not related to any criminal proceeds
by obtaining authentic and genuine documents which must support both the underlying and stated purpose.
Risk-Based Approach (RBA) is the base at Delmon Exchange to identify and eliminate potential risks. Hence EDD is compulsorily performed on all high-risk accounts.
All our staff is trained and equipped to report unusual or potentially
suspicious transactions through well-developed internal channels to the
compliance officer. The compliance officer, who in turn conducts an indepth investigation and takes the appropriate action before reporting such
transactions to the Central Bank of Bahrain.
We, at Delmon Exchange, strongly believe in empowering our employees
at every level. Effective AML training helps the company develop good
AML-CTF governance at different levels within the Organization.
Employees are trained on Anti-Money Laundering procedures within 30 days of joining Delmon Exchange, with follow-up training every year. This
training covers all employees who are in contact with customers or those authorized to handle and complete cash and non-cash transactions also
the compliance officer gives training to the senior management including the owners every year
The HR department confirms and documents the reliability of employees
first when a person is employed and again within a period of twelve (12)
months thereafter. The staff on-boarding process has been made tighter
with multiple levels of scrutiny before hiring.
All records including the customer’s identification documents, related data,
transaction data and any other relevant documents are maintained and
retained for a minimum of ten years. This is in line with the regulations of
The Central bank of the Bahrain.
Delmon Exchange shall always maintain the confidentiality of the
information provided by its customers and their transaction records
The compliance & AML department is subject to independent reviews by
the internal audit team from the 3rd line of defense perspective, by the
Central Bank of the Bahrain examiners, as well as independent external
auditors. This ensures the compliance program is always up-to-date and fit
for the management of regulatory risk.
