Mawarid Finance has launched a financial management platform called Lynq, entering the UAE corporate spend market through a partnership with payment processor NymCard.

The Islamic finance group designed the system to consolidate corporate cards, spend management, and global supplier payments for small and medium businesses.

Users receive a dedicated virtual IBAN to fund their accounts and manage company spending from a single dashboard.

By integrating NymCard’s processing engine, Mawarid Finance can issue both physical and virtual Mastercard products.

The platform also includes tools for finance teams to set spending limits and monitor transactions in real time, alongside cross-border payment rails for paying international vendors.

“Lynq is our answer to a gap we consistently saw, where businesses were managing fragmented systems instead of focusing on growth,”

said Rashid AlQubaisi, CEO of Mawarid Finance.

“NymCard exists to give financial institutions the infrastructure they need to build and launch modern card and payment products, without compromise on compliance, speed, or scale.”

said Shiraz Ali, Chief Business Officer at NymCard.

The platform is currently available to all registered businesses in the UAE.

Companies can complete the onboarding and compliance review process digitally to activate their accounts.

Featured image credit: Edited by Fintech News UAE, based on image by Mawarid Finance