Page 51 - AAE PR REPORT - December 2024

1/10/25, 10:41 AM New salary advance offering from Al Ansari for UAE workers
New salary advance offering from Al Ansari for UAE workers

The salary advance service enables users to access a portion of their earned wages before payday, reducing reliance on
high-interest credit options

BY GARETH VAN ZYL
DECEMBER 31, 2024

One of the UAE’s largest financial services players, Al Ansari, has unveiled new Salary Advance and Send Now, Pay
Later (SNPL) solutions aimed at the country’s underbanked and unbanked populations.

The salary advance service enables users to access a portion of their earned wages before payday, reducing
reliance on high-interest credit options. Meanwhile, the SNPL feature allows customers to remit larger sums instantly
to family members and repay in instalments, offering greater financial flexibility.

These new offerings have been introduced through a collaboration between Al Ansari Financial Services, the parent
company of Al Ansari Exchange, and fintech provider Halan.
“Al Ansari Financial Services has always been at the forefront of delivering solutions that empower individuals and
businesses,” said Mohammad Bitar, deputy group CEO of Al Ansari Financial Services.
“Our partnership with Halan reflects our shared vision of enabling financial independence and fostering greater
inclusivity. By pioneering Earned Wage Access services, we are providing a practical and ethical solution to support
the financial well-being of our customers, especially those who have limited access to traditional banking services.”

Omar Ramadan, managing director of Halan GCC, emphasised the partnership’s transformative potential.

“Together with Al Ansari Financial Services, we are enabling a groundbreaking service that empowers individuals to
make informed financial decisions. Our fintech expertise, combined with Al Ansari Financial Services’ legacy of trust
and service excellence, ensures that this solution not only meets the needs of the underbanked but also sets a new
benchmark for financial accessibility and inclusion in the region,” said Ramadan.

Halan, which entered the UAE market in 2024, specialises in salary advance solutions and operates in Egypt,
Pakistan, and Turkey. The company aims to reach 250,000 customers in the UAE by 2025.

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