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Mashreq & Cashew partner to expand credit offering in UAE

By Delisha Fernandes

December 15, 2023

  • Central Bank of the UAE
  • email address
  • Fintech news

Mashreq, Nymbl, Instant Payment, merchants, Central Bank of the UAE, QR-based payments, email address, Instant Real Time Payments, SMEs, Fintech news, Fintech UAEMashreq, one of the leading financial institutions in the MENA region, has teamed up with cashew, a front-runner among MENA FinTechs, to revolutionize the UAE’s credit offering.

This strategic partnership introduces a pioneering financial solution, offering instant, high-value loans, while redefining consumer lending in the region.

This bold initiative by cashew and Mashreq marks a significant paradigm shift in the realm of personal lending. It promises to empower consumers with immediate financing options at the point of sale for more substantial and meaningful expenditures.

Kartik Taneja, Head of Payments, at Mashreq said, “We are thrilled to join forces with cashew to unveil a groundbreaking solution that swiftly provides customers access to funding. 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.”

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. This is not just a step forward; it’s a leap for consumer financial empowerment in the UAE, potentially reshaping how credit is perceived and utilized for major life decisions.

Ammar Afif, CEO and Co-Founder, cashew, 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.”

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