MUSANDAM EXCHANGE LLC is one of the oldest money exchange companies in Sulthante of Oman

About us

Who we are and what we do

MUSANDAM EXCHANGE was established with its Head Quarters at Ruwi, Sultanate of Oman during 1982. The Company is registered with the Ministry of Commerce and Industry as a sole proprietorship concern belonging to MR. MOHAMMED SULAIMAN AL THEHLI and has been licensed by CENTRAL BANK OF OMAN to conduct draft issuance and sale and purchase of foreign currencies.

Musandam Exchange is managed by SYNDICATE BANK, one of the leading Public Sector Banks in India, under Management Service Contract since 1984. Executives/ Managers from SYNDICATE BANK manages the Company on professional lines.

Musandam Exchange is one of the largest Exchange Cos. in the Sultanate of Oman with turnover of USD 750 Million and annual remittances of above 600000. Company has carved a niche in the market with a strong brand equity and reputation for excellence and professionalism in service with personal touch and care for the customer.

The company is engaged in outward remittances of funds of expatriates to various countries, VIZ. India, Pakistan, Bangladesh, Sri Lanka, Egypt, UK, etc. The company at present has 13 branches including their Head Office at Ruwi, Seeb, Sohar, Nizwa, Sur, Ibri, Sinaw, Bani Bu Hasan, Barka, Ghala , Haima, Dhuqum and Behla.


Bank Transfer
Syndicate Bank (India) DD and Electronic funds transfer.
Canara Bank (India) Electronic funds transfer.
Federal Bank (India) Electronic funds transfer.
South Indian Bank (India) Electronic funds transfer.
State Bank of Travancore (India) Electronic funds transfer.
IDBI Bank (India) Electronic funds transfer.
Islami Bank Bangladesh DD and Electronic funds transfer.
Uttara bank (Bangladesh) DD and Electronic funds transfer.
Pubali Bank (Bangladesh) DD and Electronic funds transfer.
Janata bank (Bangladesh) Electronic funds transfer.
Bank of Ceylon (Sri Lanka) DD and Electronic funds transfer.
National Bank for Development (Egypt) Demand Draft.
Syndicate Bank (UK) Demand Draft.
Xpress Money Money Transfer
Western Union Financial Services, Inc. Money Transfer
Wall Street Exchange Centre llc Export / Import of Foreign Currency


  • Central Bank of Oman conducts regular inspection of the Exchange Company.
  • Reserve Bank of India conducts regular Inspection on operations of the exchange through Syndicate Bank.
  • Regular Inspection and review by Syndicate Bank, India.
  • All Correspondent Banks conduct Concurrent Audit as per Reserve Bank of India guidelines on DDA arrangements.
  • Annual Audit on compliance of KYC and Anti money Laundering Law by the statutory auditors.

Compliance of Anti Money Laundering Law:

  • Exchange company is to comply with the Law of Combating Money Laundering and Terrorism Financing (Royal Decree 79/2010) of Sultanate of Oman.
  • Company has formulated its own policy on adherence of KYC norms and Anti Money Laundering and Terrorism Financing.