cashew, a front-runner among Mena fintechs, has teamed up with Mashreq, a leading financial institution, in a ground-breaking alliance to revolutionise the UAE’s credit offering. This partnership introduces a pioneering financial solution, offering instant, high-value loans, while redefining consumer lending in the region.

 

In a pioneering move that sets a new standard for the Middle Eastern fintech landscape, cashew is redefining 'honest and inclusive credit.' Moving beyond the typical boundaries of Buy Now, Pay Later (BNPL), which predominantly caters to discretionary purchases with 3 to 4 month tenures, cashew is ambitiously expanding its horizon. 

 

The company is now targeting significant life events, offering extended loan tenures that resonate more profoundly with consumer needs in essential sectors such as healthcare, education, and home improvement.

 

Combination of flexibility and competitive rates

What sets this initiative apart is the unique combination of flexibility and competitive rates it brings to the table – absent in the personal lending space in the region until now. 

 

cashew's CEO and Co-Founder, Ammar Afif, said: “Our collaboration with Mashreq over the past two years has positioned us to launch a financial product that grants consumers unprecedented power to fund their ambitions in education, healthcare, and beyond. We're forging a path to a future where financial barriers are diminished, and aspirations are within reach.”

 

Kartik Taneja, Head of Payments, at Mashreq, said: “Elevating customer experience is a big part of our strategy, as we continuously strive to create faster, secure and convenient offerings. By combining our expertise and resources, we are reshaping the landscape of consumer lending, focusing on providing accessible and innovative credit options. This strategic partnership aligns with Mashreq's vision to empower individuals, allowing them to navigate life's significant milestones without financial constraints. We are excited to be part of this transformative journey that redefines how credit is accessed and utilised in our region.”--TradeArabia News Service