The Central Bank of the UAE (CBUAE) has issued a no-objection allowing Mawarid Finance to provide financing to micro, small and medium-sized enterprises (MSMEs) with Liabify.
The companies plan to offer payroll-linked financing and earned wage access (EWA) to employees in the UAE through LiaPay, which Liabify describes as an AI-powered financial wellness platform.
Under the arrangement, eligible employees will access financing and EWA through prepaid Mastercard cards, subject to regulatory and eligibility requirements. The model is designed to help workers manage expenses before payday while giving employers a way to support staff without affecting day-to-day liquidity, according to the announcement.
Mawarid Finance will provide the financing and prepaid cards in line with CBUAE rules. Liabify will supply the technology platform and manage employer engagement, while Mastercard will provide the payment network.
The companies said the initiative will focus on consumer protection, responsible financing and Sharia compliance. Rollout will follow the terms of the CBUAE’s no-objection and other applicable regulations.
“Together with Mawarid Finance, we aim to help MSMEs support their employees through responsible access to liquidity,” said Dr Allan Villegas, co-founder and CEO of Liabify.
Source: Fintech News UAE
