Ahmed Al Rashid
Chief Executive Officer
Fifteen years in regional banking and structured finance, with prior leadership roles at two UAE-licensed financial institutions. Leads strategy and banking relationships.
About
Built for the gaps in B2B settlement
We exist because the infrastructure for holding and settling large B2B obligations — particularly across international telecom and marketplace networks — was not fit for purpose.
Who we are
Ikrik Exchange was founded by a team with backgrounds in banking operations, international telecom, and financial regulation. We observed a persistent problem: carriers and platform operators were managing bilateral settlement obligations through informal credit lines, delayed payments, and complex correspondent banking chains that added cost, risk, and opacity to what should have been straightforward financial flows.
We established Ikrik Exchange in Dubai to provide a regulated, neutral intermediary for these flows. Our model is simple: clients deposit to their segregated account, we hold the funds with full accountability, and we disburse on agreed terms. We do not lend, invest, or co-mingle funds. We earn a fee for providing a compliant, operationally rigorous holding and settlement infrastructure — and we take that responsibility seriously.
Dubai, UAE
Headquartered in the FTC Building, Mina Bazar
Dubai provides the regulatory environment, banking infrastructure, and geographic position that our clients — primarily carriers and platforms operating across MENA, Africa, and Asia — require from a settlement hub.
Regulated & Oversight
Operating under UAE financial services framework
Our operations are conducted in compliance with UAE financial services regulations, including AML/CFT requirements aligned with FATF recommendations and the UAE's national framework.
Compliance & oversight
Ikrik Exchange operates a compliance framework designed to meet the expectations of regulated counterparties, institutional auditors, and UAE regulatory oversight. Our policies and controls are reviewed annually and updated to reflect changes in the regulatory environment.
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KYC / KYB onboardingAll clients and beneficial owners are verified against government-issued documentation and screened against global sanction and PEP lists before account activation.
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AML transaction monitoringOngoing transaction monitoring is applied at the account level with rule-based and behavioural screening. Suspicious activity is escalated to our MLRO and reported in accordance with UAE obligations.
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Daily reconciliationEvery client account balance is reconciled against the bank's records each business day. Any discrepancy is investigated and resolved before close of business.
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Segregated client fundsClient funds are held in accounts that are ledger-segregated from operating capital. No client balance can be applied to Ikrik Exchange's own obligations.
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Audit-ready recordsAll transaction records, reconciliation reports, release instructions, and KYB documentation are retained for the period required under UAE regulations and available for regulatory or client audit at any time.
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Dubai regulatory frameworkIkrik Exchange operates under the UAE's financial services regulatory framework, including CBUAE guidance, the Federal AML law, and the executive regulations applicable to payment service providers and financial intermediaries.
Compliance summary
Jurisdiction
Dubai, UAE
Regulatory framework
CBUAE / UAE Federal
AML standard
FATF-aligned
Reconciliation frequency
Daily
Record retention
Per UAE regulation
Client fund segregation
Confirmed
Leadership
Our team brings together expertise from banking operations, international telecommunications, and financial compliance.
Sarah Thornton
Chief Compliance Officer
Former MLRO at a global money service business. Designed the AML/CFT framework and oversees all KYB, transaction monitoring, and regulatory reporting functions.
David Mensah
Head of Operations
Ten years in international telecom settlement and intercarrier billing. Manages daily reconciliation, client onboarding, and settlement cycle execution.
Our office
Postal Address
Office Number 15, Mezzanine FloorFTC Building, Mina Bazar
Dubai, United Arab Emirates
Business Hours
Sunday to Thursday
09:00 – 18:00 GST (UTC+4)
09:00 – 18:00 GST (UTC+4)
Ready to move money with certainty?
Speak with our compliance team to understand what onboarding looks like for your business.