Page 84 - AAE PR REPORT - December 2024

1/2/25, 1:34 PM Al Ansari Launches Salary Advance Service with Fintech Halan in UAE – JobX News
services more accessible to UAE residents, particularly focusing on
underbanked and unbanked populations.
Revolutionary Financial Access

The new service enables eligible customers to access a portion of
their earned wages before their regular payday. This initiative

represents a significant shift from traditional banking models,
offering a practical alternative to conventional credit options.

Mohammad Bitar, Deputy Group CEO of Al Ansari Financial
Services
Mohammad Bitar, Deputy Group CEO of Al Ansari Financial

Services, emphasises the strategic importance of this development:
“By introducing earned wage access services, we’re implementing a
practical and ethical solution that strengthens our customers’

financial position, especially those who might face barriers with
traditional banking services.”
Market Impact and Growth Potential

As the leading remittance provider in the UAE, Al Ansari’s
expansion into salary advance services signals a strategic
diversification of their service portfolio. Financial analysts predict

this move will create additional revenue streams for the company,
particularly beneficial in the medium term.

The timing appears optimal, as salary advance services have already
demonstrated substantial success in American and European
markets. The UAE market shows promising signs for similar

adoption patterns, with several financial institutions preparing to
launch comparable services in 2025.

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