Manama, Kingdom of Bahrain – Ajman Bank has signed a Memorandum of Understanding (MoU) with Arab Financial Services (AFS), the Middle East and Africa’s leading digital payments solutions provider and fintech enabler, to collaborate across merchant acquiring, payment issuing, processing services, and corporate banking solutions.

The collaboration reflects a shared commitment to supporting the continued evolution of the payments landscape through secure, scalable, and integrated financial services. By bringing together banking and payments expertise, both organizations will work together to evaluate opportunities that enhance merchant services, strengthen payment capabilities, and support businesses operating in an increasingly digital economy.

Mustafa Al Khalfawi, CEO of Ajman Bank, said: “As digital commerce continues to evolve, strengthening the infrastructure that supports payments and business transactions remains a strategic priority. Through this collaboration, we aim to explore opportunities that enhance merchant services, expand payment capabilities, and support businesses with solutions that are aligned with their evolving needs. Partnerships of this nature play an important role in building a more connected and resilient financial ecosystem”.

The MoU establishes a framework for both organizations to collaborate across merchant acquiring services, payment issuing and processing opportunities, and corporate banking solutions. It also provides a platform for ongoing discussions around commercial, operational, and technology initiatives that support long-term growth and innovation.

Dr. Samer Soliman, Group Chief Executive Officer of Arab Financial Services (AFS) Said: “Our collaboration with Ajman Bank is a commitment to deliver a platform that makes payments completely straightforward and deeply integrated. We are putting a highly intuitive solution directly into the hands of business owners so they can focus on growth”.

The collaboration supports the shared ambition of both organizations to advance payment capabilities, strengthen merchant enablement, and contribute to the continued growth of digital commerce across the UAE and the wider region.

AFS Media Relations
Email: pr@afs.com.bh

About AFS:

Arab Financial Services (AFS) 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 ecosystem.

AFS is owned by 36 banks and financial institutions and serves over 60 clients in more than 20 countries across the Middle East and Africa. Today, AFS is the region’s leading digital payment solutions provider and fintech enabler. Regulated by the Central Bank of Bahrain and the Central Bank of Egypt and licensed by the Central Bank of UAE, its dedication to innovation has made AFS a driving force in the market offering a rich portfolio of payment solutions including Open Banking Hub, popular digital wallets, market-leading merchant acquisition services, digital payroll solutions and more. Providing the highest quality payments solutions that are trusted by businesses, AFS has offices and data centers in the Kingdom of Bahrain, Arab Republic of Egypt, Sultanate of Oman, and the United Arab Emirates.