Residents of the UAE will soon enjoy easier access to salary advances, remittance options, and installment payments, thanks to a groundbreaking partnership between Al Ansari Financial Services, the parent company of Al Ansari Exchange, and the fintech firm Halan. According to the reports of Leaders team, this initiative targets underbanked and unbanked individuals, aiming to provide practical financial solutions and reduce dependency on high-interest credit.
Empowering Financial Independence
The service, known as “Send Now, Pay Later” (SNPL), allows customers to send larger sums of money instantly to family members and repay the amount in installments. This solution is designed to enhance financial accessibility and inclusivity for the UAE’s 3.7 million underbanked expatriates, many of whom struggle with traditional banking barriers.
Industry Leaders Speak
Mohammad Bitar, Deputy Group CEO of Al Ansari Financial Services, emphasized the ethical and inclusive nature of this service, saying:
“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, highlighted the broader impact, stating:
“This solution sets a new benchmark for financial accessibility and inclusion in the region.”
A Growing Trend in the UAE
While major UAE banks such as Abu Dhabi Islamic Bank, Emirates NBD, and others already offer salary advance facilities, this collaboration takes the concept further by addressing the needs of low- to mid-income individuals.
As per the sources of Leaders team, Halan’s salary advance solution, launched in December 2024, has already attracted over 40,000 customers since April 2024 and aims to reach 250,000 customers with loans totaling Dh350 million by the end of 2025.
