India has become one of the world’s most sought-after destinations for Global Capability Centres, and financial services groups have been among the most active in setting up shop here. AAFS India — Al Ansari Financial Services Solutions Private Limited — is one of the more recent and notable entrants into this space, established in 2024 as the India arm of Al Ansari Financial Services PJSC, the Dubai Financial Market-listed group and the largest non-banking financial services provider in the GCC.
Why a UAE-Listed Group Chose India
Al Ansari Financial Services didn’t need to build an India presence to survive — it already commands a dominant position in the GCC financial services market, home to Al Ansari Exchange and, more recently, the acquired BFC Group. So why invest in AAFS India at all?
The answer lies in what India offers that few other markets can: a deep, continuously renewing pool of technology and finance talent, combined with a cost base that allows global companies to build sophisticated capabilities at scale. AAFS India was set up specifically to give the Group a base from which it could develop technology platforms, run shared services, and support innovation — functions that are far more valuable when delivered by skilled, in-house teams than when outsourced piecemeal.
What AAFS India Is Responsible For
Based in Hyderabad, AAFS India operates as a Global Capability Centre with a mandate that spans several functions critical to the Group’s operations:
• Technology development — an IT Excellence Centre building software solutions, automation, and digital platforms for the wider Group
• Shared services — centralising finance, HR, compliance, and operational functions to create more consistent service delivery
• Innovation and product development — working alongside global teams to build new offerings and improve customer experience
• Operational scalability — using India’s talent ecosystem to grow capacity cost-effectively
• Planned expansion — moving into Business Process Outsourcing and Global Business Services as the centre matures
This is a broader mandate than many India-based GCCs receive in their early years, and it reflects the level of trust the parent Group has placed in the India centre from the outset.
The Bigger Picture: India’s GCC Boom
AAFS India’s establishment fits into a much larger trend. Over the past decade, India has moved from being seen primarily as an outsourcing destination to becoming a genuine innovation base for global companies, particularly in banking, insurance, and financial services. Cities like Hyderabad, Bengaluru, and Pune now host capability centres for some of the world’s largest financial institutions, many of which run core technology and product functions out of India rather than just back-office administration.
AAFS India is a clear example of this shift. Rather than treating the India centre as a cost-cutting exercise, Al Ansari Financial Services has positioned it as a strategic extension of its UAE headquarters — one where decisions about technology and operations are made with the same seriousness as they would be in Dubai.
Leadership Connecting India to the UAE
AAFS India operates under the group-level leadership of Rashed Ali Al Ansari, Group Chief Executive Officer, and Mohammad Bitar, Deputy Group Chief Executive Officer, with Gunjan Pandey serving as Country Head for India. This structure keeps the India centre closely tied to the Group’s global direction, while giving local leadership the authority to run day-to-day operations.
Talent as the Foundation
None of AAFS India’s mandate would be possible without India’s talent base, and that’s really the core reason the centre exists in Hyderabad rather than elsewhere. The city continues to produce engineering, finance, and operations professionals at a scale that supports specialised, high-responsibility teams — not just entry-level support roles. That distinction matters when a Group is trying to build technology platforms and shared services functions that need to meet the same standards as its UAE headquarters, rather than simply processing transactions at volume.
What’s Next for AAFS India
Given that Al Ansari Financial Services recently reported strong FY25 results, with double-digit growth in both operating income and EBITDA, alongside its acquisition of BFC Group, the Group is clearly in an expansion phase. AAFS India is positioned to play a growing role in supporting that expansion, particularly as the centre moves toward offering Business Process Outsourcing and Global Business Services.
For India’s Global Capability Centre ecosystem, AAFS India represents the continued diversification of the sector beyond the US and European multinationals that have traditionally dominated it. A GCC-headquartered financial group choosing to build serious capability in India is a signal of how central the country has become to global financial services strategy — not just as a delivery location, but as a genuine partner in growth.
About AAFS India
AAFS India (Al Ansari Financial Services Solutions Private Limited) is the Global Capability Centre of Al Ansari Financial Services PJSC in India, established in 2024 and based in Hyderabad. It supports the Group’s technology, shared services, innovation, and business transformation functions.
Address: 10th Floor, Western Dallas Center, Survey No. 83/1, Raidurg Village, Serlingampally Mandal, Ranga Reddy District, Hyderabad, Telangana 500032 Website: aafssolutions.in
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