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UAE Residents Can Now Send Money and Pay in Installments

Al Ansari and Halan partnership offers financial solutions for underbanked residents

  • Publish date: since 2 day
UAE Residents Can Now Send Money and Pay in Installments

UAE residents will soon have access to a new financial service that offers salary advances, money remittance options, and installment payments to address urgent financial needs. This initiative comes from a partnership between Al Ansari Financial Services, the parent company of Al Ansari Exchange, and fintech firm Halan.

The service is designed to support underbanked and unbanked individuals, particularly mid- and low-income earners, by reducing dependence on high-interest credit options.

UAE Residents Can Now Send Money and Pay in Installments

Expanding Salary Advance Options

While many UAE banks already provide salary advance facilities, such as Abu Dhabi Islamic Bank, Emirates NBD, and others, this new service aims to broaden access for those who struggle with traditional banking. Al Ansari’s "send now, pay later" (SNPL) feature allows customers to send larger remittance amounts instantly and repay in installments, easing financial pressures for expatriates supporting families abroad.

Addressing the Needs of Underbanked Expatriates

With over 3.7 million underbanked expatriates in the UAE, the demand for accessible financial services is significant. Halan, launched in December 2024, has already gained traction, attracting 40,000 customers since April 2024. The company aims to reach 250,000 users and disburse Dh350 million in loans by the end of 2025.

Boosting Remittance Potential

Remittances remain a crucial financial activity for UAE residents, with $38.5 billion sent abroad in 2023, making the UAE the second-highest remittance sender globally after the US. This new service is expected to enhance the financial capabilities of residents, providing a more flexible and user-friendly way to manage their finances.

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