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e& has received regulatory approval from the Central Bank of the United Arab Emirates to launch a personal financial lending platform, marking a significant expansion of its digital financial services. Khalifa Al Shamsi, CEO of e& life and e& international, subsidiaries of the e& Group, announced that the company will roll out multiple services under its new personal finance license in the coming weeks and months, according to statements made at the World Government Summit.
The announcement came as the summit concluded discussions on financial inclusion in the region. Al Shamsi confirmed that the platform will initially launch microlending services, offering small personal loans to subscribers ranging from AED 500 to AED 5,000, depending on individual creditworthiness and wallet usage patterns.
Digital Lending Platform to Offer Multiple Services
The new personal finance platform will provide a range of services beyond traditional microlending. According to Al Shamsi, the company plans to introduce buy now, pay later functionality as part of the initial rollout. Additionally, credit card issuance will be among the new services offered through the platform, expanding e&’s presence in the consumer credit market.
The executive emphasized that the platform builds on the company’s existing payment infrastructure. In recent years, e& has successfully launched various payment-dependent services including local and international payment solutions, as well as cross-border money transfer capabilities.
e& money Platform Reaches Two Million Users
The digital lending initiative comes as e&’s existing financial platform continues to gain traction in the Emirates. The e& money platform, which launched in 2022, has surpassed two million subscribers, according to company figures. Al Shamsi described it as the most widely used platform in the UAE when measured by active subscribers who utilize the card on a daily and monthly basis.
However, the addition of lending services represents a strategic shift for the telecommunications group. Moving into personal finance and credit provision positions e& to compete more directly with traditional banks and emerging fintech companies in the region’s competitive digital banking landscape.
Regulatory Approval Enables Financial Inclusion Goals
The Central Bank of the UAE’s approval reflects the regulator’s ongoing efforts to expand financial inclusion while maintaining oversight of digital lending platforms. Meanwhile, the timing aligns with broader discussions at the World Government Summit, which specifically addressed financial inclusion as a key development priority.
The microlending approach targets underserved market segments that may have limited access to traditional banking products. Small-value loans of AED 500 to AED 5,000 can address short-term financial needs for individuals who might not qualify for conventional bank credit or prefer more flexible digital solutions.
In contrast to traditional lending institutions, e&’s platform will leverage existing customer data from wallet usage and payment patterns to assess creditworthiness. This data-driven approach to credit assessment could streamline approval processes and expand access to personal finance options.
Telecommunications Groups Expand Into Finance
The move follows a regional trend of telecommunications companies diversifying into financial services. Telecom operators possess large customer bases, established digital infrastructure, and transaction data that provide advantages when entering the fintech sector. Additionally, regulatory frameworks across Gulf countries have evolved to accommodate licensed digital financial services from non-banking entities.
Al Shamsi noted that the company’s success with payment services in recent years laid the groundwork for this expansion. The established user base and proven digital wallet infrastructure provide a foundation for introducing lending and credit products to existing customers.
The company has not specified exact launch dates for individual services, stating only that rollouts will occur over the coming weeks and months. Further details regarding interest rates, eligibility criteria, and specific terms for the microlending, buy now pay later, and credit card services are expected to be announced as each product launches.
