Huru, the homegrown fintech platform licensed by the UAE Central Bank, has announced the launch of Quick Cash, an instant microfinance solution aimed at boosting financial inclusion. Developed in partnership with Mawarid Finance, the new feature is designed to provide safe and affordable liquidity to the UAE’s unbanked and underbanked residents.
Addressing a Critical Gap
Since its inception, Huru has focused on building a financial ecosystem for communities that have historically faced barriers to mainstream banking services. Its offerings include instant zero-balance IBAN accounts, Visa ATM cards, bill payments, and in-app remittances. The introduction of Quick Cash marks a significant milestone in its mission, extending essential credit facilities to its user base.
The launch is timely, aligning with the UAE Central Bank’s updated framework that broadens eligibility for personal lending. This regulatory shift allows solutions like Quick Cash to play a key role in advancing the nation’s financial inclusion objectives.
A Data-Driven Approach to Lending
Quick Cash provides users with immediate access to up to AED 10,000, disbursed instantly with repayment structured through transparent monthly installments. The solution is powered by Huru’s proprietary data-driven eligibility model, which analyzes self-declared information, salary inflows, spending patterns, and other alternative data points.
These insights are processed by Huru’s machine-learning underwriting engine, enabling the platform to make accurate and responsible microfinance decisions that prioritize the long-term financial well-being of its users.
“At a time when the United Arab Emirates is expanding pathways to financial access, Quick Cash offers a practical and reliable solution for individuals who have long faced barriers to credit solutions,” said Abhimanyu Girotra, Chief Executive Officer of Huru. “Our aim is to provide transparent and empowering financial tools that strengthen resilience and create opportunity for individuals who contribute meaningfully to the country’s progress.”
Strategic Partnership and Regulatory Alignment
The solution is delivered in full regulatory alignment through a strategic partnership with Mawarid Finance, a leading provider of Sharia-compliant financial services. This collaboration ensures that Quick Cash adheres to strong ethical finance standards.
“At Mawarid Finance, we are committed to offering fair and accessible financial solutions,” commented Rashid Al Qubaisi, Chief Executive Officer of Mawarid Finance. “Collaborating with Huru allows us to combine innovation with financial integrity and introduce a responsible microfinance model that reflects the vision of the United Arab Emirates for a more inclusive financial environment.”
Empowering Employees and Employers
Beyond supporting individuals, Quick Cash provides significant benefits for employers. By offering a reliable alternative to salary advances, the solution helps reduce administrative burdens on companies. Simultaneously, it enhances employee financial security, morale, and retention, contributing to greater organizational stability.
Repayments are automatically deducted from users’ Huru salary accounts, promoting responsible borrowing habits and simplifying the process for both employees and employers.
About Huru
Huru is a homegrown UAE fintech company licensed by the Central Bank of the UAE. Founded in 2022, Huru serves as a one-stop money management app for the country’s unbanked and underbanked communities. The platform provides innovative features such as instant zero-balance IBAN accounts, a free digital and physical Visa ATM card, in-app remittances, bill payments, and saving tools that enable users to retain and grow more of their earnings. Now expanding into tailored credit products, Huru is committed to building transparent, accessible, and impactful financial solutions for those who form the backbone of the UAE’s workforce.
Source: Zawya
