The region's first and most prominent provider of electronic-payment solutions extends its services beyond the Middle East and partners with one of Pakistan's leading banks, Bank AL Habib Limited
Manama- Kingdom of Bahrain, February 26, 2006. Arab Financial Service (AFS) the region's first and most prominent provider of Electronic-payment and consumer finance outsourcing services have announced a new service agreement with Bank AL Habib Limited in Pakistan.
According to the signed agreement, AFS will provide Bank AL Habib with the technical expertise and resources to support the Bank's MasterCard card issuing program. Services provided to Bank AL Habib will include card authorization, card issuance, card account management, transaction management, chargeback management and logistic Services.
"Enhancing Retail Banking offerings have been one of our key business objectives since the inception of Bank AL Habib. Bringing more product options to our clients is a priority and the new MasterCard program is a valuable addition to our portfolio." Commented Mr. Akbar R.Khan, General Manager Consumer Banking, Bank AL Habib.
"AFS was naturally the ideal partner because of its extensive experience as a third party card processor utilizing latest card technologies as well as its dedicated account management team." He added
Mr. Rasool Hujair, CEO, AFS commented, "This new agreement with Bank AL Habib is yet another milestone for AFS, having successfully acquired new business outside the Middle East where our core clientele base is. We are delighted at this new agreement and look forward to a continuous fruitful business relationship with Bank AL Habib."
-Ends-
About AFS:
Founded in 1984, AFS is the region's leading provider of electronic -payments and consumer finance outsourcing services. Created by the financial industry to service and support financial institutions in the region and beyond. AFS is owned by 45 of the region's leading banks and currently provides outsourcing services to over 50 banks and financial institutions.
Through leveraging best-in-class technology and know-how, AFS provides clients with reliable, efficient and easy-to-use systems, supported by processing services for their card issuing, merchant acquiring and consumer finance. The comprehensive range of services offered by the company include application and transaction processing, authorizations, customer service, card issuance, fraud detection and reporting, statement issuing and dispatching, dispute and chargeback processing, reporting, settlement, reconciliation and loyalty programs.
About Bank AL Habib
Established in 1991, Bank AL Habib Limited is sponsored by the Dawood Habib Group, who have very long track record of banking in the Sub-continent which dates back to 1920s and who were among the founders of Habib Bank Limited, established in Bombay in 1941..
Bank AL Habib is one of the leading providers of Corporate, trade finance and Retail banking services in Pakistan and has over 100 branches all over Pakistan with plans to open an OBU in Bahrain later in this quarter.
AFS Contacts
Latifa Isa
Business Development & Marketing Division
Arab Financial Services Co.
Tele: +973 17 299726/ 290333
Media Contacts
Radwa Allabban
PR Senior Account Manager
Memac Ogilvy Public Relations
Tel: +973 17578726
Email: radwa.allabban@ogilvy.com
© Press Release 2006
