The sign of change and growth at AFS: a new logo and corporate identity.

Manama, Kingdom of Bahrain-  April 2, 2006

AFS unveiled its new brand corporate identity to its staff at an evening programme held at the Ritz Carlton on Tuesday, March 28, 2006.

The Chairman of AFS, Mr. Ghazi Mahmood Abdul Jawad said "We initiated a strategic change in the way we do business in 2005 with fruitful results. This change was built around our commitment and dedication to provide the most effective business solutions for our clients, so they can benefit by gaining competitive advantage in their markets. As our employees are the pillars of this commitment and dedication, our new business approach is led by them. They are our core strength, and their experience and expertise that enable us to transform our state-of-the-art technology into cost effective and quick to market implementation of our clients' projects. I am proud to therefore present our new corporate identity and logo that encapsulates our customer focused business drive led by our people."

At the same occasion, Rasool Hujair, the CEO commented "The initials of ?AFS have been transformed into a monogram, and the letter spacing closed to create a pictogram. This speaks of our solid infrastructure and our confidence. The concept was born out of our core values of innovative, skillful, enabling and transparent that translates to our core customer promise of our passion enabling their success. The royal blue reflect not only our pioneering heritage and leadership, it represents skill and enablement. The lighter blue connotes the organization that is built on innovation and transparency. The logo is therefore a perfect balance of an organizations values and their commercial implementation.

He concluded by saying," Today's launch is not just about changing our visual identity, but also about changing the way we meet and service our customers and meet their requirement.  A new logo and graphical design by itself will not determine our reputation, but I strongly believe that our new brand will inspire us in our ongoing efforts to deliver even better services to our customers, and it helps our customers and potential customers experience to create the best possible solutions."

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About Arab Financial Services (AFS):
AFS is the leading Arab company for electronic banking, personal payment instruments and related services. Established in 1984, AFS is in a strong financial position with backing from leading international financial institutions in the Arab World.

The company pioneered the concept of outsourcing card processing in the region and was the first company to set-up an end-to-end state-of-the-art card-outsourcing environment in Bahrain. AFS is the largest payment card processor in the Middle East and North African regions. AFS is Principal Member of Visa and MasterCard Payment Associations and an authorized third party processor centre.

Over 50 Banks in the region are connected to AFS's online card management integrated solutions. AFS offers diverse services ranging from 'get-started' to fully-fledged on-going card processing & related services, assisting banks to issue Visa and MasterCard to their customers through sponsorship card programs. AFS offers flexible and customized solutions to suit the specific requirements of financial institutions in the region, including full Arabic language functionality.

For further information on AFS, please contact:      
Rabih Dib
PR Account Executive
Memac Ogilvy Bahrain
Tel: (+973) 17 57 87 24    
Fax :17223266
Mobile: (+973) 39 46 23 38
Email: Rabih.Dib@ogilvy.com

© Press Release 2006