Page 66 - AAE PR REPORT - December 2024

1/2/25, 1:32 PM DFM-listed Al Ansari to offer salary advance option through Halan
DFM-listed Al Ansari to offer salary advance option through Halan
UAE's Al Ansari to offer salary advances - and even 'send now pay later' option
Last updated: December 30, 2024 | 10:23
Manoj Nair, Business Editor
2 MIN READ

Salary advances have been hugely popular in the US, and are now gaining traction in the UAE.
Gulf News Archive

Dubai: The remittance and financial services group Al Ansari will extend salary advance options to clients through a venture

with the fintech Halan. This allows for timely advances for the UAE's underbanked and unbanked residents.

The collaboration will also offer 'send now, pay later' services to clients.
A handful of UAE's leading financial institutions have either entered the salary advance space or are on the verge of doing so.

This offers customers access to a certain percentage of their salary as a short-term advance that needs to be paid off within
that set time.
The concept is extremely popular in the US and Western economies but has not had much of a scale in the UAE. That clearly

is changing.
A salary advance fosters 'greater financial flexibility and reducing reliance on high-interest credit options'.
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The partnership with Halan 'creates a seamless, secure, and accessible offerings tailored to meet the diverse needs of the
UAE’s workforce'.

"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 with limited access to traditional banking services," said Mohammad Bitar,
Deputy Group CEO of Al Ansari Financial Services.

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