Pakistan-founded fintech ABHI has secured Shariah approval in Saudi Arabia for its Early Wage Access product, strengthening its push into the Kingdom’s financial services market.
The Shariah Committee of Saudi-based Badiha Company approved the product, ABHI announced on Tuesday. The company said the approval confirms that the structure of its Early Wage Access, or EWA, solution aligns with Shariah principles.
The milestone comes as ABHI expands its employee financial wellness services across Saudi Arabia.
ABHI’s EWA product allows employees to access part of the salary they have already earned before their regular payday. The service aims to provide workers with more control over their cash flow without requiring them to wait for the monthly salary cycle.
The company said the Shariah approval strengthens its focus on combining technology, financial accessibility and responsible financial practices.
Shariah Approval Strengthens ABHI’s Saudi Push
ABHI has been building its presence in Saudi Arabia through partnerships with local businesses and employers.
Its Saudi platform describes Early Wage Access as a service that gives eligible employees access to unpaid earned wages through an employer-linked system. Transactions on the platform take place in Saudi riyals.
ABHI says the service can help employees handle unexpected expenses and manage household cash flow more effectively.
Unlike a traditional salary advance based on future earnings, EWA gives workers access to income they have already earned.
The company formally expanded its early salary access offering in Saudi Arabia earlier this year. In May, it announced a partnership with local firm QBS to introduce the service in the Kingdom.
ABHI has since announced several Saudi partnerships.
In June, it partnered with Saudi digital car marketplace Syarah to provide EWA to employees. It also signed agreements with Squadio and TAM Aerospace.
Last week, ABHI announced a partnership with NOX Group. The agreement gives eligible NOX employees access to part of their earned salaries before payday.
The latest Shariah approval could support ABHI as it seeks wider adoption among Saudi employers and workers who prefer Shariah-compliant financial products.
Financial Wellbeing Gains Attention Under Vision 2030
The development comes as Saudi Arabia continues to expand its fintech industry under Vision 2030.
The Kingdom’s Financial Sector Development Program aims to establish Saudi Arabia as a leading global fintech market.
Its long-term strategy targets 525 fintech companies operating in the Kingdom by 2030. It also aims to create around 18,000 fintech jobs and raise the sector’s GDP contribution to SAR13 billion.
Saudi authorities have also promoted digital payments, open banking and partnerships between established financial institutions and fintech companies.
ABHI said financial wellbeing is becoming an increasingly important part of employee benefits.
Employers are looking beyond traditional salaries and benefits as they compete for talent. Technology-based solutions can give employees greater flexibility over when they access earned income.
ABHI said its Shariah-approved EWA product fits into that shift by complementing traditional payroll systems.
ABHI Now Serves More Than 1 Million Users
Founded in 2021, ABHI has expanded beyond Pakistan into the UAE, Saudi Arabia and Oman.
The company says it now serves more than one million users and works with over 7,000 businesses across the region.
Its product portfolio includes Earned Wage Access, payroll processing, payroll financing and SME financing.
ABHI positions these services as part of a broader effort to improve financial access for employees and businesses in emerging markets.
The company has also received international recognition. It became the first fintech from the MENAP region to receive the World Economic Forum’s Technology Pioneer recognition in 2023, according to ABHI.
The Saudi approval now adds a Shariah-compliance milestone to that expansion.
For ABHI, the next challenge will be increasing adoption among employers while building its position in Saudi Arabia’s rapidly developing fintech market.
The company said the Badiha Committee approval supports its goal of offering financial products that combine flexibility with Shariah-compliant structures.
