Egypt’s top fintech business and first unicorn announced its entry into the UAE market on Wednesday as a significant step toward regional expansion.
MNT-Halan will provide creative and easily accessible financial solutions to underprivileged communities and enterprises through its financial super app.
Halan Advance, the company’s quick, safe, and easy-to-use salary financing solution, is its first product in the United Arab Emirates, with other services from its ecosystem slated to follow.
Read also: Ariika expands global footprint with $3 million investment in MENA nations
MNT-Halan committed to change the financial ecosystem
MNT-Halan is committed to changing the financial landscape, as seen by its entry into the UAE. Modern technology, a thorough knowledge of underbanked markets, and adherence to Central Bank of UAE laws put MNT-Halan in a strong position to launch a variety of products aimed at boosting economic empowerment, cash flow management, and financial inclusion.
The UAE is the newest market to join the company’s ambitions for growth in the GCC and beyond, following prosperous operations in Egypt, Turkey, and Pakistan.
MNT-Halan has long considered the UAE a strategic priority because of its thriving finance industry and quick adoption of digital technologies.
More than 3.7 million foreigners in the UAE are now underbanked, and their combined monthly income exceeds AED 10 billion. Accessing traditional banking services is difficult for these people, which presents a significant opportunity to offer customised credit, payment, and investment solutions.
Services offered by MNT-Halan
Among the products offered by MNT-Halan is Halan Advance, which offers a simple salary financing solution that empowers both enterprises and individuals.
With a totally digital platform, it provides workers with quick, safe, and legal access to wage advances while giving employers a reliable financial tool for their staff.
The Abu Dhabi sovereign fund, Lunate, is one of the international investors supporting the group.
Halan UAE has forged alliances with top employers since beginning operations in the UAE in April 2024. The company has already accumulated over 40,000 clients, and by the end of 2025, it hopes to have 250,000.
Mounir Nakhla, Chairman and CEO of MNT-Halan, said: “The GCC is a powerful hub for financial innovation, and launching in the UAE marks a significant step in our regional expansion. With a GDP exceeding $500 billion and a diverse, fast-growing population, the UAE is a pivotal market to advance financial inclusion and transform lives.”
Omar Ramadan, Managing Director of Halan GCC, added: “Since we launched Halan Advance, we’ve been thrilled with the fast uptake and the positive feedback from businesses and employees alike. This is just the beginning of what we plan to deliver in the UAE—innovative, accessible solutions that empower individuals and businesses.”
Read also: OX Delivers expands electric fleet across East Africa with $163 million agreement
About MNT-Halan
MNT-Halan, the first fintech unicorn in Egypt and MENA, was established in 2018 with the goal of enhancing lives by utilising technology to transform financial services accessibility.
Through the Halan app and its physical locations across the country, MNT-Halan offers business and consumer loans, pre-paid cards, e-wallets, investments, and e-commerce services.
Since its founding, MNT-Halan has provided services to over 8 million clients worldwide and disbursed more than $10 billion in loans. Thanks to Halan’s innovative services and the Halan Card, the Halan app serves over 2.4 million clients in Egypt alone on a quarterly basis, almost tripling its user base each year.
Along with the first independent electronic wallet license from the Central Bank of Egypt to distribute, collect, and transfer funds digitally through mobile applications, MNT-Halan also possesses licenses for micro, SME, consumer, and nano finance, as well as a license for the Subscription and Redemption of Investment Certificates from the Egyptian Financial Regulatory Authority.
In addition to owning Halan Microfinance Bank, a licensed microfinance bank in Pakistan governed by the SBP, and recently acquiring Tam Finans, Turkey’s top commercial finance company with a factoring licence issued by the BRSA, MNT-Halan has begun operations in the United Arab Emirates with Halan Advance, a quick and safe salary financing solution that complies fully with CBUAE regulations.
The company has been recognised with numerous awards, such as Global Finance Magazine’s Most Innovative Fintech Company in the Middle East and Africa, Forbes Middle East’s The Middle East’s Fintech 50, and the Financial Times’ list of Africa’s Fastest Growing Companies for two years in a row. Additionally, 11:FS, the creator of the top fintech podcast, gave it the Business Gamechanger award.
Additionally, the MFR Global Rating Agency awarded the Egyptian subsidiary the Bronze “Client Protection” Certificate (under the Cerise + SPTF framework).
Leave a Reply