Aafaq Islamic Finance forges transformational partnership with The Social Loan Company to drive financial inclusion – MENAFN.COM

Aafaq Islamic Finance forges transformational partnership with The Social Loan Company to drive financial inclusion – MENAFN.COM

Dubai, UAE: The Social Loan Company (TSLC), a Singapore-based AI/ML-powered cutting-edge big data-driven credit enablement platform company, has forged a transformational partnership with Aafaq Islamic Finance to set up a trend-setting non-bank, mobile-first loan platform to deliver financial access to the underserved young digital natives in the MENA region. At a press conference at The Waldorf Astoria Dubai International Financial Centre, the two parties announced plans to launch the industry-leading platform across chosen markets in the region to deliver appropriate, affordable, accessible and differentiated financial solutions to drive the inclusion of credit-thin, new-to-credit and credit-invisible everyday consumers. Rashed Mahboob Al Qubaisi, CEO of Aafaq Islamic Finance said: ''We are pleased that Aafaq was selected by TSLC as a strategic partner in the MENA region. This partnership allows Aafaq to connect more deeply with its customers by providing differentiated Sharia-compliant financial transactions in an environment that is end-to-end digital, safe and secure.'' Al Qubaisi pointed out that ''what distinguishes this new partnership between Aafaq and TSLC is the new possibility of extending our client base to include the young and underserved digital natives in this region.'' "TSLC is looking to usher in a new era of Artificial Intelligence-based financial services in