Salary Advance and SNPL for Greater Inclusivity
Al Ansari Financial Services has partnered with regional fintech company Halan to introduce innovative financial solutions tailored to underserved segments of the UAE workforce. This collaboration reflects a shared commitment to enhancing financial accessibility and inclusion.
Key Offerings: Salary Advance and SNPL
- Salary Advance:
- Allows individuals to access a portion of their earned wages before payday.
- Reduces reliance on high-interest credit options.
- Promotes financial flexibility and well-being.
- Send Now, Pay Later (SNPL):
- Enables customers to send larger sums of money instantly to family members.
- Provides repayment in instalments, enhancing financial capabilities.
Strategic Vision
The partnership aims to empower underbanked and unbanked populations by combining:
- Al Ansari Financial Services’ extensive network and legacy of trust.
- Halan’s fintech expertise, offering instant, paperless access to services.
Mohammad Bitar, Deputy Group CEO of Al Ansari Financial Services, stated:
“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.”
Omar Ramadan, Managing Director of Halan GCC, added:
“This partnership empowers individuals to make informed financial decisions and sets a new benchmark for financial accessibility in the region.”
Halan’s Expansion in the UAE
- Entered the UAE market in April 2024.
- Already served over 50,000 users.
- Aims to reach 250,000 customers by 2025.
Halan focuses on serving underserved workforce segments through seamless, secure financial solutions.
The Al Ansari Financial Services-Halan partnership marks a significant step toward financial inclusion in the UAE. By introducing practical services like Salary Advance and Send Now, Pay Later, the collaboration supports financial independence while setting a new standard for accessibility in the region.
