Manama, Kingdom of Bahrain - 06 March, 2007: Kuwait Finance House - Bahrain (KFH-Bahrain), a leading Islamic commercial and investment bank, today announced that it is to shortly introduce the first Islamic EMV compliant chip based card in the region conforming to VISA standards with the support of Arab Financial Services, the region's leading provider of electronic-payments and consumer finance outsourcing services. EMV is the name given to the specifications developed by the main card companies; it describes how smart cards must behave when used at Point of Sale (POS) terminals and Automated Teller Machines (ATM).

KFH-Bahrain's consumer banking and finance services combine a broad range of innovative products and services with exceptional customer care. The Bank's products and financing facilities are developed with the aim of providing for the long-term needs of customers and those of the local market, which continue to increase. Thinking innovatively and ultimately seeking to deliver superior products is at the core of the Bank's strategy.  "Whilst many banks in the region have launched EMV compliant card products, KFH-Bahrain will be the first to launch an EMV chip based card structured through Islamically acceptable instruments. Once again we are raising the bar on customer service by launching the most secure Islamic card product available in region today," said Khalid Rafee, Consumer Finance Manager at KFH-Bahrain.

"The AFS team has enjoyed an excellent relationship with KFH-Bahrain and we are delighted to join in this announcement of the first Islamic EMV chip card in the region. Supporting our customers in the introduction of pioneering technology is of great importance to us at AFS as this initiative demonstrates." said Mr. Rasool Hujair, AFS CEO. 

As part of the contract, AFS provided KFH-Bahrain with a wide range of services including application setup, online testing, VISA certification, chip card vendor selection, technical support and consultancy services leading up to go live. - End -

-Ends-

About Kuwait Finance House, Bahrain
Kuwait Finance House, Bahrain is a leading provider of Islamic commercial and investment banking services. Established in 2002 as a wholly owned subsidiary of Kuwait Finance House (Kuwait) -- an industry leader for more than 25 years -- KFH-Bahrain specializes in developing and bringing to market the highest quality Islamically compliant banking and investment products, all of which are delivered by a staff of experienced and dedicated professionals with a deep understanding of the market and the customers they serve.

For more information please visit:  http://www.kfh.bh

Kuwait Finance House, Bahrain Media contact: Mr. F?r?q Colin Silveira Corporate Communications Tel: +973 17221599 Email: fsilveira@kfh.com.bh  

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 more information please visit www.afs.com.bh

AFS Media contact: Martin Williamson Head of Business Development & Marketing Tel: +973 17 299732 Email: martin.williamson@afs.com.bh

© Press Release 2007