FINTECH-

Al Ansari + Halan to launch early salary access service: Homegrown Al Ansari Financial Services partnered with Egyptian fintech MNT-Halan to introduce an earned wage access solution, Salary Advance, as well as a Send Now, Pay Later (SNPL) service, targeting the UAE’s underbanked and unbanked populations, according to a joint statement. Salary Advance allows employees to access part of their earned salaries before payday, while SNPL enables individuals to send larger amounts of money to family members and repay in installments.

REMEMBER- This move builds on Halan’s recent entry into the UAE market with its early salary access service, Halan Advance, which it rolled out earlier this month, targeting the Emirates’ 3.7 mn underbanked expatriates community. MNT Halan aims to grow its customer base in the country to 250k by the end of next year.

REAL ESTATE-

Al Ahli Bank of Kuwait obtained approval from Dubai’s Real Estate Regulatory Agency to offer real estate escrow account services in the UAE, according to a press release. The service allows developers to securely collect payments from off-plan property buyers via third-party regulated escrow accounts.

SUSTAINABILITY-

Nabat to deploy AI, robotics solutions for mangrove restoration in Abu Dhabi: Climate tech startup Nabat and the Abu Dhabi Environment Agency will use AI and autonomous robotics solutions to ramp up mangrove restoration efforts, aiming to make them more data-driven and efficient, according to an Abu Dhabi Media Office statement. The Environment Agency will provide guidance to ensure that the rehabilitation efforts align with Abu Dhabi’s ecological requirements.

About Nabat: Nabat was launched by the Advanced Technology Research Council’s VentureOne at the International Mangrove Conservation and Restoration Conference in Abu Dhabi earlier this month. The venture aims to use advanced technology, such as drones, AI-powered software, and flexible seeding mechanisms to conserve and restore mangroves and other ecosystems nationwide.

BANKING-

Dubai Islamic Bank (DIB) partnered with crypto exchange Crypto.com to expand the presence of the digital currency platform in the UAE, according to a press release. The agreement outlines several collaboration areas, including promoting Crypto.com’s mobile application and card through DIB’s channels with reward campaigns, enabling cryptocurrency payments via DIB’s systems, and facilitating fiat currency funding on the Crypto.com app.

The partnership will also explore the tokenization of real-world assets, including Islamic Sukuk and real estate portfolios, utilizing Crypto.com’s Cronos chain, and integrate Crypto.com’s custody service, OTC trade execution, and crypto trading tech solutions for DIB’s retail clients.

AVIATION-

#1- UAE airlines can now track their emissions progress using a new digital platform launched by the General Civil Aviation Authority, Wam reports. The new platform aims to support the global Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).

What’s new: The platform automates carbon offset and reduction tracking for UAE carriers, doing away with manual processes. It also doubles as a digital archive, storing aviation emissions data and supporting the development of future carbon reduction applications.

About CORSIA: Adopted by the International Civil Aviation Organisation in 2016, CORSIA allows carriers to offset unavoidable carbon emissions through the carbon market. The initiative aims to help minimize the global aviation sector’s environmental impact.

#2- Sharjah-based budget airline Air Arabia launched a new route connecting Ras Al Khaimah with Tashkent, Uzbekistan, the carrier said in a statement. Starting this Friday, the budget carrier will operate a direct weekly flight between Ras Al Khaimah International Airport and Tashkent’s Islam Karimov International Airport. This marks Air Arabia’s third route to the Uzbek capital, joining Sharjah and Abu Dhabi.

ICYMI- Air Arabia launched several new routes this month, including non-stop flights from Ras Al Khaimah to Moscow, Abu Dhabi to Yekaterinburg, Sharjah to Warsaw and Vienna. The carrier also plans to resume Abu Dhabi-Beirut flights on 9 January, 2025.

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