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Building trust and driving value

At AFS we believe in transparency, accountability, and open communications with our shareholders and diverse stakeholders.

Our story

At AFS we empower the region’s business and banking communities, end-users and consumers with customized payments technologies and solutions.

Regulated by the Central Bank of Bahrain and the Central Bank of Egypt, AFS is owned by a total of 37 banks and financial institutions and serves over 60 bank clients in more than 20 countries across the Middle East and Africa region.

The company provides numerous ground-breaking end-to-end digital payment products, services and solutions to banks and businesses. These include card processing services, merchant acquiring, fintech solutions and value-added services.

Our dedication to payments innovation and delivering cutting-edge payments technology has propelled AFS to become a market leader.

We are committed to being the leading enabler for digital transaction transformation and we offer unique, future-driven payments experiences.

We fast-track payments innovation and make superior digital payments experiences a more accessible, secure, convenient, and seamless reality, regionally.

Our board of directors

Guiding our vision and strategy.

Mr. Sael Al Waary

Chairman

Dr. Tarik Yousef

Deputy Chairman

Mr. Maher Kaddoura

Director

Mr. Musab M. Msallem

Director

Mr. Suresh Padmanabhan

Director

Mr. Siegfried Heimgaertner

Director

Dr. Yousif Almas

Director

Resources

Ensuring transparency with unrestricted access to key documents and statements.

Shareholders’ rights to participate and vote

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Shareholder list

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Latest news & announcements

Partnership

Nov 25, 2024

2 min read

AFS and PayTic Forge Strategic Partnership to Enhance Card Program Management

Arab Financial Services (AFS), the Middle East and Africa region’s leading digital payment solutions provider and fintech enabler, announced a strategic partnership with PayTic, a Software-as-a-Service company specializing in end-to-end automation of process-heavy card program operations. Their modules include chargeback management, scheme and custom data reconciliation, scheme fee optimization, and regulatory reporting, all working in tandem to streamline operations for greater efficiency and scalability.PayTic will support AFS's internal operations and offer their suite of back-office automation modules to AFS's existing clients and regional banks, streamlining the end-to-end daily operations, increasing productivity, mitigating risks, and adding greater value.The agreement was signed between Mr. Samer Soliman, AFS Chief Executive Officer, and RHF Secretary General, His Excellency Shaikh Ali bin Khalifa Al Khalifa, marking the long-standing relationship that AFS holds with RHF, which reflects AFS’s commitment to Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) objectives.Mr. Ghassan Mardini, AFS COO, said: “Partnering with PayTic marks a significant step forward for us at AFS. This collaboration will streamline our operations and enhance efficiency in card program management. This will provide our clients with advanced tools and solutions, empowering them to navigate today's complex financial landscape more effectively and securely. This partnership aims to set new standards in the paytech sector across the Middle East and Africa.”Mr. Imad Boumahdi, PayTic Founder & CEO, said: “AFS is a pioneer in the paytech sector, and we look forward to this partnership with them, which will allow us to extend our proven track record of innovative solutions to a broader audience, benefiting banks and financial institutions across the region. Together, we aim to enhance operational efficiency and effectiveness in managing card programs, supporting our shared commitment to advancing financial technology and delivering exceptional value to our clients.”This partnership underscores AFS's dedication to innovation and delivering advanced paytech solutions. By integrating PayTic's modules, AFS will continue to support banks and financial institutes to achieve their financial goals.

Partnership

Nov 13, 2024

2 min read

Contribute to Positive Change with Every Transaction on AFS Terminals, A Collaborative Initiative by AFS and RHF to Empower Bahraini Communities

Arab Financial Services (AFS), the Middle East and Africa region’s leading digital payment solutions provider and fintech enabler, announced a partnership with the Royal Humanitarian Foundation (RHF), a charitable organization based in the Kingdom of Bahrain, launching “A Fils Changes Lives” initiative aimed to support RHF’s dedicated efforts in empowering individuals and less fortunate families across Bahrain.As part of AFS’s ongoing efforts to contribute to the sustainable development of the Kingdom by integrating social responsibility into its core business operations, this initiative aims at giving back to the Bahraini community, where every transaction made on AFS Point-of-Sale (POS) terminals will see a portion—equivalent to one Fils— to be donated to RHF. The total donation amount will be accumulated throughout the year and transferred annually into RHF’s accounts to support their vital community programs.The agreement was signed between Mr. Samer Soliman, AFS Chief Executive Officer, and RHF Secretary General, His Excellency Shaikh Ali bin Khalifa Al Khalifa, marking the long-standing relationship that AFS holds with RHF, which reflects AFS’s commitment to Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) objectives.His Excellency Shaikh Ali bin Khalifa Al Khalifa expressed his gratitude for the partnership, stating, “The support from AFS through this initiative will significantly bolster our ongoing efforts to uplift the community. We value this collaboration and look forward to seeing the positive impact it will have on the lives of those we aim to support.”Commenting on the occasion, Mr. Samer Soliman said, “We are proud to partner with the Royal Humanitarian Foundation on this meaningful initiative. At AFS, our dedication to the community is at the heart of our operations across all geographical locations. This agreement ensures that every transaction on our POS terminals contributes directly to the welfare of Bahraini society.”AFS’s support for the initiatives undertaken by the Royal Humanitarian Foundation has been unwavering over the years, where the AFS team has collaborated closely with RHF on various occasions, working together to support and uplift the community.

Announcement

Oct 22, 2024

2 min read

Arab Financial Services (AFS) Secures $50 Million Capital Injection

Arab Financial Services (AFS), a pioneering digital payments solutions provider and fintech enabler in the Middle East and Africa, has raised $50 million in capital. This strategic investment, approved by AFS shareholders at an Extraordinary General Meeting earlier this year, will significantly enhance the company's financial position and catalyze its ambitious growth plans.The additional capital will enable AFS to expand its operations, enhance its product offerings, and drive innovation in the digital payments landscape. AFS Chairman, Sael Al Waary, expressed his confidence in the company's future, stating, 'This investment is a testament to our shareholders' belief in AFS's vision, potential and our ability to deliver sustained growth and value.'In 2023, AFS achieved notable progress in executing its strategic initiatives. Key accomplishments include successful bank migrations, the acquisition of new clients, and the launch of innovative products such as 'Wallets as Service'. The company has also made substantial strides in its acquiring business, particularly in Bahrain, Oman, and Egypt. AFS's commitment to innovation is evident in its development of advanced digital solutions, such as AFS Pay and AFS One, which caters to a diverse range of merchant segments. Moreover, the newly launched AFS Open Banking hub is driving financial inclusion and innovation in the region.With this fresh capital injection, AFS is poised to further accelerate its growth trajectory. The company plans to expand into new markets, scale up its operations in existing ones, and leverage its Payment Services Provider license in Egypt to broaden its scope of activities in the acquiring market. In the UAE, AFS is making progress towards launching merchant acquiring services. Furthermore, the company is targeting African markets for growth in its processing business.This strategic investment will empower AFS to innovate, expand, and elevate our market position,' stated Samer Soliman, AFS Chief Executive Officer. 'By leveraging technology and AI, we are committed to delivering exceptional value to our shareholders and customers through enhanced products and services.AFS is regulated by the Central Bank of Bahrain and the Central Bank of Egypt offering a comprehensive range of digital payment solutions, including debit, credit, and Islamic card processing, merchant acquiring, fintech, and value-added services. With offices and data centers in Bahrain, Egypt, Oman, and the UAE.

Partnership

Oct 10, 2024

2 min read

AFS Partners with Zand Bank to Empower FinTech Innovation

Arab Financial Services (AFS), the Middle East and Africa region’s leading digital payment solutions provider and fintech enabler, has signed a strategic agreement with Zand, the UAE’s first fully licensed all-digital bank. This collaboration aims to provide Fintechs and emerging players with AFS's cutting-edge processing services and Zand Bank’s BIN Sponsorship and banking facilities, enabling them to issue prepaid cards and other banking solutions at pace and with ease.Fintechs looking for BIN sponsorship will be able to access AFS’s latest card processing capabilities through Zand’s BIN with AFS, facilitating quicker market entry and supporting the rapid development of innovative financial products in the region. AFS CEO Mr. Samer Soliman said, “Our partnership with Zand represents a significant milestone in our mission to empower Fintechs with the tools and infrastructure they need to innovate and grow. We are committed to nurturing a dynamic, efficient, and powerful ecosystem that will drive the next wave of digital transformation in the financial services sector.”Zand CEO Mr. Michael Chan added, “Our collaboration with AFS enables Fintechs to focus on what they do best—innovation and customer acquisition. By providing the necessary infrastructure and compliance framework, we are lowering the barriers to entry for new financial players, thereby driving greater innovation and inclusivity in the financial services industry.”The partnership underscores Zand and AFS's commitment to advancing the digital economy and reinforces the company's position as a key enabler of innovation in the region's financial services landscape.By providing seamless access to essential payment infrastructure, Zand and AFS empower Fintechs to accelerate their growth and deliver cutting-edge solutions, ultimately driving greater financial inclusion and fostering a more competitive market.

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