An agreement that allows “early salary” and “later payment” for transferring funds

Al Ansari Financial Services Group, listed on the Dubai Financial Market, announced the signing of a strategic partnership agreement with “Hala”, a company specialized in the field of financial technology in the region, with the aim of providing innovative financial solutions compatible with Islamic Sharia for groups not covered by traditional banking services in the UAE, by providing… The “Salary Advance” service and the “Send Now, Pay Later” (SNPL) service provide the group’s customers with greater flexibility and ease in their financial transactions.

Yesterday’s statement stated that this partnership embodies the commitment of both parties to establishing a comprehensive financial system in the country by enhancing financial inclusion and providing advanced services focused on empowering customers, as providing the early salary service is a pioneering solution that allows individuals to immediately obtain a portion of their earned wages before the day of their salaries. This contributes to encouraging financial flexibility and reduces reliance on high-interest credit options, while the “Send Now, Pay Later” service provides customers with the ability to send money to their families and pay it back later on. payments, to enhance their financial capabilities.

Executive Vice President of Al Ansari Financial Services Group, Mohammed Bitar, said: “Our cooperation with Halan reflects our shared vision to enhance inclusion and financial independence. By providing pioneering services regarding access to earned wages, we seek to provide a practical and ethical solution to support the financial well-being of customers, especially those who have limited access to traditional banking services.”

For his part, Omar Ramadan, Managing Director of “Halan” in the Gulf Cooperation Council countries, said: “In cooperation with (Al Ansari Financial Services), we seek to provide pioneering financial services that enable individuals to make informed financial decisions, and there is no doubt that the combination of our long experience in the field of technology Al Ansari Financial Services and the legacy that Al Ansari Financial Services enjoys in providing distinguished and reliable financial services will ensure that these solutions meet the needs of groups that do not have access to traditional financial services, and set a new standard for financial inclusion and access in the region.”

It is noteworthy that the partnership comes a few months after the company “Halan” entered the UAE market as part of its regional expansion plan in the Gulf Cooperation Council countries. Since launching its services in April 2024, “Halan” has been able to attract more than 50 thousand users in the Emirati market, and it aspires to reach… To 250 thousand customers by 2025.