Mashreq, one of the leading financial institutions in the MENA region, has teamed up with cashew, a front-runner among MENA fintechs, in order 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 Mashreq Bank
“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. We are excited to be part of this transformative journey that redefines how credit is accessed and utilized in our region,” Mr. Taneja added.
According to the statement, the service positions cashew as a vanguard in the industry, broadening its reach beyond that of its regional fintech counterparts. During its pilot phase, cashew is engaging with key healthcare and telecom providers to refine and perfect this innovative financing solution.
Mr. Ammar Afif, cashew’s CEO and Co-Founder, said that, “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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