The Central Bank of the UAE (CBUAE) has issued a no-objection to Mawarid Finance.

This allows the firm to provide financing to micro, small and medium-sized enterprises (MSMEs) together with Liabify.

As a result, both companies plan to offer payroll-linked financing and earned wage access (EWA) to employees in the UAE.

These services will run through LiaPay, which Liabify describes as an AI-powered financial wellness platform.

The companies said a CBUAE no-objection for prepaid cards allows participating employers to offer staff eligible financing and EWA.

Workers will then draw on these funds with prepaid Mastercard cards. Regulatory and eligibility rules will apply.

LiaPay aims to close the gap between when employees face expenses and when they are paid.

By linking financial services to payroll, the platform seeks to give workers more flexibility in accessing their funds.

For employers, the companies see the model as a way to support staff while keeping the liquidity needed for daily operations.

In addition, Liabify said its approach rests on using existing capital more efficiently. This approach is backed by responsible financing and risk management.

“Together with Mawarid Finance, we aim to help MSMEs support their employees through responsible access to liquidity,”

said Dr Allan Villegas, Co-founder and Chief Executive Officer at Liabify.

Under the deal, Mawarid Finance will provide the financing and prepaid cards in line with CBUAE rules.

Meanwhile, Liabify will supply the technology platform and lead employer engagement. Mastercard will provide its payment network.

Both companies said the initiative will focus on consumer protection, responsible financing and Sharia compliance. Rollout will follow the terms of the no-objection and other applicable rules.

Featured image: Edited by Fintech News UAE, based on image by Mawarid Finance via its Press Release.