Manama, Kingdom of Bahrain: Arab Financial Services (AFS), the Middle East and Africa’s leading digital payments and fintech enabler, has announced a strategic partnership with Libyan Islamic Bank (LIB) to accelerate the modernization of Libya’s payment landscape through advanced card issuance, processing, and digital infrastructure solutions.

Through this collaboration, Libyan Islamic Bank will leverage AFS’s advanced Visa card issuance and processing capabilities to deliver faster, more seamless onboarding and improved customer experiences. The partnership also incorporates AFS’s enhanced security framework, featuring tokenization and encryption technologies to safeguard transactions and customer data across all digital channels. In addition, AFS will support Libyan Islamic Bank in building a scalable infrastructure designed for agility, innovation, and future growth, paving the way for the rapid introduction of next-generation payment solutions in the Libyan market.

“Seeing this strategy move from a blueprint into reality is a proud moment for our partnership. By leveraging AFS’s digital framework, Libyan Islamic Bank is optimizing its operations to deliver the fast, intuitive experiences its customers expect. This is a milestone for the future of Libyan finance, and AFS is honored to support it.” said AFS Group CEO Dr. Samer Soliman.

“As Libya advances toward a more connected and cashless economy, our partnership with AFS enables us to deliver secure, efficient, and innovative card services that meet international standards,” said Libyan Islamic Bank General Manager Adel Kshad. “By modernizing our payment infrastructure and embracing new technologies, we are equipping our customers with faster, safer, and more convenient ways to bank, while supporting the nation’s broader digital transformation and economic development goals.”

This partnership builds upon AFS’s expanding presence in North Africa and aligns with the company’s strategic efforts to strengthen regional connectivity, promote innovation, and foster financial inclusion across emerging markets. It also complements AFS’s broader mission to empower institutions with modern payment infrastructure and accelerate the region’s transition toward a cashless, digital economy.

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.

About Libyan Islamic Bank:

The Libyan Islamic Bank is a leading financial institution established in Libya in 2017, with an authorized capital of 250 million Libyan dinars, which quickly increased to 500 million Libyan dinars in recent years. The Libyan Islamic Bank is considered the first bank specializing in providing a full range of banking services and solutions compliant with Islamic Sharia, marking the beginning of a new chapter in the Libyan financial system.

Thanks to its strategic vision and extensive expertise, the bank has successfully developed a range of innovative Islamic banking products and services to meet the needs of its individual and corporate clients in both local and international markets.

The bank has a network of branches spread across several major Libyan cities, enabling it to serve its customers throughout the country.

With its strategic vision and broad experience, the bank has also succeeded in developing a suite of innovative Islamic banking products and services that cater to the needs of both individual and corporate clients in local and international markets.

The bank is committed to translating its values into tangible achievements. It received its first credit rating from an international specialized agency in the third quarter of 2023. It has also obtained ISO 9001:2015 certification for quality and ISO 27001 certification for information security management, reflecting its commitment to the highest global standards in service excellence and digital security.