Manama, Kingdom of 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. As the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, AFS’s partnership with Al Wafa Bank will support the Bank’s digital transformation ambitions with AFS sponsoring a prepaid card program for Al Wafa Bank’s clients that will allow them to offer more services and explore more payment use cases for their ecosystem.
AFS is the leading enabler for digital transaction transformation, as it is supporting the regional payments landscape and serving the needs of a wide variety of banks and financial institutions with its digital platform.
On this occasion, Samer Soliman Arab Financial Services (AFS) CEO 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. Al Wafa Bank Chairman Mr. Ahmed Ashtewi Mohamed said: “By partnering with an innovative regional payment platform like AFS, we can help our customers and leverage AFS’s longstanding payments expertise to offer greater value to our customers and give them a flawless payments experience. We have chosen AFS despite the tough competition, as we were impressed with the experience and thought leadership in payments that was demonstrated by them through the selection process.”
Regulated by The Central Bank of Bahrain, and majority-owned by Bank ABC, AFS boasts numerous ground-breaking end-to-end digital payment services and solutions. These span debit, credit, and Islamic card processing, merchant acquiring, fintech, and a suite of state-of-the-art value-added services. Providing the highest quality payments solutions that are trusted by businesses, AFS has offices and data centers in Bahrain, the UAE, and Oman. Its dedication to innovation has positioned AFS as a driving market force delivering a rich portfolio of payment solutions including popular digital mobile wallets, market-leading merchant acquiring services, Bahrain’s leading digital payroll solution, global contact centers and more.
Arab Financial Services was formed in 1984 to provide payment products, services and expertise to banks and merchant groups and deliver customized payment solutions in an increasingly divergent, disruptive, and dynamic payment eco-system.
A key to the growing and continued success of the company was an executive team determined to invest in the most up-to-date, leading-edge technologies. AFS is owned by a total of 37 banks and financial institutions and serves over 60 clients in more than 20 countries across MEA.
Today, AFS is the region’s leading digital payment solutions provider and Fintech enabler, regulated by the Central Bank of Bahrain.
AFS’s innovative approach to the provision of financial services is evidenced by a series of pioneering payment services that covers card processing services, merchant acquiring, fintech solutions and an impressive array of value-added services.
The emphasis that AFS places on innovation has positioned the company as a driving market force, delivering a rich portfolio of payment solutions including digital mobile wallets, customer orientated Merchant Acquiring services; Bahrain’s leading digital payroll solution Al Rateb, global Contact Centers and much more.
Trusted by businesses across the region AFS has been recognized as the “Best New Payment Solutions Provider for MSME Business Bahrain 2022" by Global Business Magazine, the “Leading Payments Innovator Bahrain 2021” by World Business Outlook and the “Best Payment Solution Provider
Bahrain 2021” by Global Banking & Finance Review.