Cairo, Egypt – Arab Financial Services (AFS), the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, has announced plans to expand its payments footprint into Egypt, with the establishment of its Egypt hub. AFS (Egypt) will deliver the latest payments solutions and innovations to the country’s businesses and financial institutions.

Chief Executive Officer of AFS, Samer Soliman, said: “The unprecedented growth in the Egyptian market over the past few years has yielded opportunities for all stakeholders in the payments ecosystem to expand regionally. Moving into new markets is just the first step of our ambitious growth strategy. However, it’s not just about expansion for us, it’s just as much about us being there to serve our customers on a local basis, or regionally for those of our customers with a wider geographic spread, with a real focus on providing service quality and making it easier for our customers to transact.”

He added “Entering the Egyptian market reflects its importance and potential. It also aligns with AFS’s vision to become the leading enabler for digital transaction transformation across the Middle East and Africa region.”

In this context he announced that: “The AFS Board has appointed Tawfik Mahmoud, an experienced payments expert with a proven track record, to take on the challenge of leading the AFS team in Egypt.”

Commenting on his new appointment Tawfik said: “It is a real privilege for me to take on this role for, what I consider to be the leading provider of payment solutions across the region with a culture of innovation, thought leadership and real customer orientation. It’s my intention to deliver both mass market and tailored payment solutions to reflect the many different types of businesses that operate in Egypt and to leverage the wealth and breadth of products and services AFS has brought and is bringing to the payments market.”

Based in Cairo, Tawfik Mahmoud will be responsible for leading the company’s strategy in Egypt, growing the team across the country, supporting its growth and scaling Egypt’s merchant clients across all sectors and industries.

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About AFS:

As the brainchild of the MENA region’s banking sector, Arab Financial Services (AFS) exists to empower businesses and consumers by exploring, innovating, and investing in superior technologies that help shape the future of financial experiences. A subsidiary of Bank ABC, AFS is owned by 37 banks and financial institutions, and serves over 60 clients in more than 20 countries. Today, we are the region’s leading digital payment solutions provider and Fintech enabler. Regulated by the Central Bank of Bahrain, our ground-breaking, end-to-end payment services and solutions span card processing, Merchant Acquiring, Fintech and a state-of-the-art, value-added services suite. Our dedication to innovation has positioned us 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 Al Rateb; global Contact Centers and more. Providing the highest quality payments solutions that are trusted by businesses, we have been recognized as the “Best New Payment Solutions for MSME Business Bahrain 2022" by Global Business Magazine, “Leading Payments Innovator Bahrain 2021” by World Business Outlook and “Best Payment Solution Provider Bahrain 2021” by Global Banking & Finance Review.

Visit www.afs.com.bh for more information and join the conversation on LinkedIn