FAQ
Built and demo-ready, pre-launch.
The entry model does not depend on Saleem holding the corridor licence. Sending runs through a licensed partner in the UAE. Cash-out runs through licensed local partners. Saleem's own FSRA Category 3C application is in preparation and has not been submitted. If a specific partner does not progress, the model substitutes the partner. The Pakistan payout business runs separately on partner rails under its own defined licensing route.
By design, from day one. The wallet serves phones that cannot store keys or run signing software, so custody sits with Saleem: a lost handset never means lost money, and compliance screening completes before any funds release. Custody is non-yield-bearing by default. Client assets are held with professional wallet infrastructure, and the providers are named on the compliance page where contracts permit.
Nothing of value lives on the device. The account is the phone number, protected by a PIN, with the balance held in custody. A replacement SIM on the same number restores access after identity re-verification. On a shared phone, the balance stays invisible and immovable without the PIN.
Every account is screened at onboarding and every transaction is screened again before funds release, through multiple independent screening providers, so a single provider outage never skips a check. A transaction that fails screening does not settle. The screening record travels with the account, so a recipient's compliance history compounds instead of resetting with each payment.
All six surfaces are built and demo-ready against mocked services. The platform is pre-launch. The production backend build has started, with completion, the third-party security audit, and the penetration test funded by this round. No customer funds move on the platform today.
Very little. The operator routes short-code sessions to Saleem's handler over a secure connection and, where SIM Toolkit is used, provisions the applet over the air to SIMs already in the field. Saleem runs the wallet core, the compliance pipeline, and settlement. No core network changes are required.
Through the desktop console: disbursement, approvals, reconciliation, and reporting in one role-scoped surface. Settlement moves through accounts the bank already operates with licensed partners. Statement exports in standard treasury formats are within the production scope of the current round.
The primary channel needs a GSM signal only, with no data connection. Where coverage gaps persist, the SMS path is store-and-forward and completes when the signal returns. SIM Toolkit menus render from the SIM itself, so the network is needed only at the moment a transaction executes, and the merchant terminal queues transactions offline and settles once coverage returns.
No Saleem fee to sender or recipient; FX conversion applies. Cash-out through a sarraf carries a conversion cost, with a total customer cost design target of 2.5 to 3.0 percent all-in.
No one yet. The platform is pre-launch. The first pilot, an anchor town in the Syria corridor with a licensed cash-out partner and a licensed sending partner, is the milestone this round funds. Results will be published with the denominators printed.