Al Ansari Financial Services and Halan Partner to Pioneer Multiple Financing Services in the UAE

Empowering Customers with Enhanced Financial Freedom and Inclusion

Dubai, UAE – December 30, 2024 – Al Ansari Financial Services PJSC (DFM: ALANSARI), one of the leading integrated financial services groups in the UAE and the parent of Al Ansari Exchange L.L.C., and Halan, the leading regional fintech company, are pleased to announce that they have entered a strategic partnership aimed at empowering the underbanked and unbanked populations in the UAE through innovative financial solutions. This collaboration will introduce Salary Advance and Send Now, Pay Later (SNPL) services, providing Al Ansari Financial Services’ customers with greater financial flexibility and convenience.

Salary Advance is a transformative solution that allows individuals to instantly access a portion of their earned wages before their payday, fostering greater financial flexibility and reducing reliance on high-interest credit options. This partnership underscores the shared commitment of Al Ansari Financial Services and Halan to enhance financial inclusion while delivering cutting-edge solutions that prioritise customer empowerment.

Through this collaboration, Al Ansari Financial Services leverages its extensive network, trusted reputation, and deep-rooted expertise in financial services, while Halan contributes its innovative fintech platform, compliant solutions, and deep understanding of underbanked markets. Together, the partnership creates a seamless, secure, and accessible offerings tailored to meet the diverse needs of the UAE’s workforce.

“Al Ansari Financial Services has always been at the forefront of delivering solutions that empower individuals and businesses,” said Mohammad Bitar, Deputy Group CEO of Al Ansari Financial Services. “Our partnership with Halan reflects our shared vision of enabling financial independence and fostering greater inclusivity. 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 who have limited access to traditional banking services.”

In addition to Salary Advance, the SNPL service will offer customers the ability to send a larger amount of money instantly to family members and repay it on installments over time, further enhancing their financial capabilities.

This partnership follows Halan’s recent launch in the UAE as part of its regional expansion into the GCC. Within just a few months of entering the market in April 2024, the company has already served over 50,000 users and aims to reach 250,000 customers by 2025. By offering tailored solutions for the UAE’s underserved workforce, Halan provides instant, paperless access to financial services, empowering both individuals and businesses through innovative financial tools.

“Together with Al Ansari Financial Services, we are enabling a groundbreaking service that empowers individuals to make informed financial decisions,” said Omar Ramadan, Managing Director of Halan GCC. “Our fintech expertise, combined with Al Ansari Financial Services’ legacy of trust and service excellence, ensures that this solution not only meets the needs of the underbanked but also sets a new benchmark for financial accessibility and inclusion in the region.”

The introduction of Salary Advance and SNPL services is part of Al Ansari Financial Services’ continuous efforts to adapt to evolving market demands and leverage technology to provide meaningful solutions. As the UAE moves towards a more inclusive financial ecosystem, this partnership demonstrates how industry leaders can collaborate to create impactful, sustainable change.