CHICAGO: The first of its type Indian-owned foreign exchange trading company, World Money Exchange Inc. celebrates 25 years of its existence.
Serving 200 plus currency exchanges in Illinois – and Chicagoland, and four times in a row recognition from Better Business Bureau under its belt, WME is owned and operated by Anil Shah, a professional turned businessman. The company with its annual turnover crossing $100 million mark by a big margin has steadily expanded its operational base with huge support from mainstream American customers
In a talk to this paper, Anil Shah said that it is not only the individual customers and scores of currency exchanges in Illinois who come to WME for buying and selling foreign exchange on a regular basis but even some of the banks also rely on his services. “With our customer friendly and expert staff, we can expand our activities still further manifold but our motto is to offer individual attention to our customers and win their confidence. Logistic consideration is the only inhibiting factor,” he said.
Anil Shah at one time was considering branching out to India after liberalization of its economy but has shelved the idea in the wake of allegations of widespread underhand dealings. The bulk of exchange transactions at WME downtown office centers around US and Canadian dollar, British pound sterling, Euros, Peso, Japanese Yen, Hong Kong , Australian dollar and many other world currencies Visit www.wmeinc.com for more details.
It was over two and half decades ago Anil Shah with a high level of education in accounting – Chartered Accountant – came to USA from a small town Sojitra in Gujarat and worked for a while in an American firm. He wanted to have his own business and as a first step he finished CPA here, and launched his practice as a tax consultant and accountant. Even today he has scores of individual and corporate accounts, and he continues rendering his services to them.
He felt during the course of his accounting practice that large number investors are constantly looking for safe investment outlets and their preference bogs down primarily to gold and silver with platinum following closely for relatively well-to-do class. He commenced dealing in precious metals and then added foreign exchange transactions to his portfolio. Dealing in precious metals- gold silver and platinum – has now been a major activity topped slightly by foreign exchange deals. Business in precious metals has great potential, especially with weak global economy and a penchant among investors for a safe haven for investing their hard earned money.
He feels that both silver and gold are poised for a rise in as much as the outlook for global economy is not very sanguine at least for the near future. Besides, political upheavals and unrest in Mid-east, some parts of Africa and Far East are dampening factors for weary investors.
Ramesh Soparawala
India Post News Service
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