Mawarid Finance, an Islamic finance and investment group licensed by the UAE Central Bank, has officially launched Lynq, a financial operating system designed to consolidate corporate spending tools for the nation’s small and medium-sized businesses. The platform enters the B2B fintech market through a key technology partnership with payment infrastructure company NymCard.
Quick Facts
- Combines corporate cards, spend management, and supplier payments.
- Powered by payment processor NymCard.
- Targets UAE-based SMEs and startups.
- Offers virtual and physical Mastercard products.
Tackling Fragmented Financial Tools
Lynq aims to replace the disparate financial software that many UAE businesses rely on by integrating essential functions into a single dashboard. The platform provides companies with both virtual and physical corporate Mastercards that can be issued to employees for operational expenses like travel, subscriptions, and advertising.
For finance teams, the system offers centralized control, allowing them to set spending limits, manage card permissions, and monitor all transactions in real time. Lynq also features a global supplier payment function, enabling businesses to pay international vendors and freelancers directly from the platform. Each account is equipped with a dedicated virtual IBAN, simplifying the process of funding the account and managing company-wide spending from one place.
The platform is open to all UAE-registered businesses, which can self-onboard through a digital compliance and review process.
A Regulated Partnership
To build Lynq, Mawarid Finance partnered with NymCard, which provides the core card processing and program management engine. The collaboration brings together a CBUAE-licensed financial institution with a regulated fintech infrastructure provider to deliver the product.
“The UAE has world-class businesses that deserve world-class financial tools. Lynq is our answer to a gap we consistently saw — businesses managing fragmented systems instead of focusing on growth,” stated Rashid AlQubaisi, CEO of Mawarid Finance. “As a licensed institution, Mawarid Finance is building products and platforms that UAE businesses can trust.”
Shiraz Ali, Chief Business Officer at NymCard, added, “NymCard exists to give financial institutions the infrastructure they need to build and launch modern card and payment products — without compromise on compliance, speed, or scale. Lynq represents what becomes possible when a trusted institution has the right technology behind it.”
About Mawarid Finance
Mawarid Finance PJSC is an Islamic finance and investments group licensed by the UAE Central Bank. Founded in 2006 in Dubai, Mawarid Finance focuses on developing innovative Shariah-compliant products for individual and corporate customers. The group has historically focused on supporting the national economy by providing Islamic financial services for SMEs.
About NymCard
NymCard is a payments infrastructure company operating across the CEMEA region. It enables financial institutions and enterprises to launch modern financial products, including card issuing, embedded lending, and cross-border payments. NymCard is a principal member of Visa and Mastercard and is regulated by the Central Bank of the UAE.
Source: Zawya
