The region’s first and most prominent provider of electronic–payment solutions extends its services beyond the Middle East and partners with one of Pakistan’s leading banks, Bank AL Habib Limited

Manama- Kingdom of Bahrain, February 26 , 2006

Arab Financial Service (AFS) the region’s first and most prominent provider of Electronic–payment and consumer finance outsourcing services have announced a new service agreement with Bank AL Habib Limited in Pakistan.

According to the signed agreement, AFS will provide Bank AL Habib with the technical expertise and resources to support the Bank’s MasterCard card issuing program. Services provided to Bank AL Habib will include card authorization, card issuance, card account management, transaction management, chargeback management and logistic Services.

“Enhancing Retail Banking offerings have been one of our key business objectives since the inception of Bank AL Habib. Bringing more product options to our clients is a priority and the new MasterCard program is a valuable addition to our portfolio.” Commented Mr. Akbar R.Khan, General Manager Consumer Banking, Bank AL Habib.

“AFS was naturally the ideal partner because of its extensive experience as a third party card processor utilizing latest card technologies as well as its dedicated account management team.” He added

Mr. Rasool Hujair, CEO, AFS commented, “This new agreement with Bank AL Habib is yet another milestone for AFS, having successfully acquired new business outside the Middle East where our core clientele base is. We are delighted at this new agreement and look forward to a continuous fruitful business relationship with Bank AL Habib.”