Bahrain: AFS and Al Wafa Bank sign major accord

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Bahrain - Arab Financial Services (AFS) has signed an agreement with Al Wafa Bank, Libya to provide prepaid card processing services and a range of digital payments value-added services to the bank.

AFS, a Bahrain-based digital payment solutions provider and fintech enabler, said it will support Al Wafa Bank’s digital transformation ambitions and sponsor a prepaid card programme for the bank’s clients that will allow them to offer more services and explore more payment use cases for their ecosystem.

AFS chief executive Samer Soliman said: “This is a great partnership as it marks our entry into the Libyan market. Al Wafa Bank’s ambitions are to drive and expand the provision of banking services, keeping pace with latest digital payments advances. AFS is the first choice when it comes to executing on and growing together with its clients across different segments.”

“Established in 2004, Al Wafa Bank is committed to enhancing its digital payments offering across the board,” said Al Wafa Bank chairman Ahmed Ashtewi, who signed the agreement with Mr Soliman.