UAE’s Al Ansari Financial Services has announced a transformative strategic partnership with Abhi Middle East Limited. This collaboration aims to broaden the financial services landscape in the UAE, enhancing access to innovative tools that address the needs of both the unbanked and underbanked populations.
The partnership, slated for launch in Q2 2025 (pending regulatory approvals), will introduce a range of services that will revolutionize how consumers manage their finances, making everyday transactions more seamless and accessible.
By joining forces with Abhi, Al Ansari is expanding its service offering to include Earned Wage Access (EWA) and Send Now, Pay Later (SNPL). This will complement the existing portfolio of financial products already available, pushing forward Al Ansari’s mission to cater to the evolving needs of a diverse customer base.
“By collaborating with Abhi, we’re expanding our service ecosystem to offer more choices to our customers,” said Mohammad Bitar, Group Deputy CEO of Al Ansari Financial Services. “This partnership aligns with our ongoing mission to enhance financial accessibility and provide flexible solutions that cater to diverse financial needs.”
Al Ansari has been a cornerstone of the region’s financial services ecosystem for nearly 60 years. The company has long enabled seamless money transfer, exchange, and payment services, catering to tourists, residents, and businesses both locally and globally.
Since its founding in 2021, Pakistani fintech company Abhi has experienced remarkable growth, achieving a $90 million valuation within just two years. The company has forged partnerships with over 550 businesses across Pakistan, the UAE, and Bangladesh, expanding its footprint and introducing innovative credit-bridging products. Abhi Middle East Limited is the region’s largest embedded finance platform backed by Hub71 and Abu Dhabi Investment Office (ADIO).
Omair Ansari, Co-Founder & CEO of Abhi Middle East Limited, highlighted the significance of this partnership: “Partnering with Al Ansari Financial Services is a significant step in providing unbanked individuals with accessible and flexible financial solutions. Through the introduction of Earned Wage Access and Send Now, Pay Later in the UAE, we aim to address real-world financial challenges, offering tools that empower individuals to take control of their finances.”
Key Highlights
- The collaboration will allow customers to access earned wages ahead of the scheduled payday and remit funds internationally with flexible repayment options.
- The partnership seeks to enhance financial inclusion for underserved communities, bringing flexible financial solutions to those who need them most.
- The solution will be introduced across multiple platforms to ensure a smooth user experience and easy accessibility for consumers.
- Abhi’s technology will power these services, helping bridge gaps in financial accessibility and empowering individuals with greater control over their finances.
The new offering reflects an ongoing trend in fintech aimed at increasing financial inclusion. Through Earned Wage Access (EWA), employees can access wages as soon as they are earned, avoiding the need for payday loans or overdraft fees. Meanwhile, Send Now, Pay Later (SNPL) allows users to send money abroad instantly, with the option to defer payment. These services will be available to eligible customers, with Al Ansari leveraging its existing customer base and strong market presence to ensure efficient service delivery.
