UAE’s leading financial services group Al Ansari Financial Services has entered into a strategic partnership with Abhi Middle East Limited, a rapidly growing fintech platform.
The collaboration aims to broaden consumer access to innovative financial services such as Earned Wage Access (EWA) and Send Now, Pay Later (SNPL), benefiting both unbanked and underbanked communities across the region.
Mohammad Bitar, Group Deputy CEO of Al Ansari Financial Services, emphasized the significance of the partnership, saying, “By collaborating with Abhi, we’re expanding our service ecosystem to offer more choices to our customers. This partnership aligns with our ongoing mission to enhance financial accessibility and provide flexible solutions that cater to diverse financial needs.”
The partnership, scheduled for rollout in Q2 2025, subject to regulatory approvals, will integrate Abhi’s technology platform with Al Ansari Financial Services’ wide-reaching financial ecosystem. The initiative will enable customers to access their earned wages prior to their scheduled payroll dates, providing a level of financial flexibility that was previously unavailable to many. Additionally, it will introduce the Send Now, Pay Later service, which allows users to remit funds internationally instantly while deferring payment.
This collaboration builds upon Al Ansari Financial Services’ commitment to continuously expand its portfolio of financial products and services. The UAE-based financial group has been actively partnering with various platforms to provide scalable solutions that address the diverse needs of its customers.
“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,” said Omair Ansari, Co-Founder and CEO of Abhi Middle East Limited.
“By combining Abhi’s technology with Al Ansari Financial Service’s deep market expertise, we are committed to driving financial inclusion and helping underserved communities gain more flexibility and convenience in managing their financial needs.”
Abhi, a Pakistani fintech company founded in 2021, has rapidly gained traction in the region, growing its valuation to $90 million within just two years. The company has forged partnerships with over 550 businesses in Pakistan, the UAE, and Bangladesh, offering innovative credit-bridging products and financial solutions. In 2023, Abhi was recognized by the World Economic Forum as a Technology Pioneer, marking it as the first fintech in the Middle East, Africa and Pakistan (MENAP) region to receive the prestigious accolade.
Abhi’s services, including Earned Wage Access, aim to empower workers, especially in lower-income segments, to access their earned income in real-time, without having to wait for their monthly paychecks. The company’s product suite also includes tools for sending remittances and deferred payments, addressing a wide range of financial needs for people across the region.
Al Ansari Financial Services, which has been a cornerstone of the UAE’s financial services ecosystem for nearly 60 years, continues to build on its mission of enhancing global money mobility, providing seamless currency exchange, payment services, and money transfers. By integrating these innovative services, Al Ansari aims to provide customers with even more flexibility, reinforcing its position as a leader in the financial sector.
As the partnership progresses, Al Ansari and Abhi are poised to offer game-changing solutions for the UAE’s unbanked and underbanked populations, ensuring a more inclusive financial environment for all.