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The region’s leading digital payment solutions provider and fintech enabler

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 banks 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 commitment

We are committed to fast-tracking payments innovation and making superior digital payments experiences more accessible, secure, convenient, and seamless.

Our vision

To be the leading enabler for digital transaction transformation.

Our mission

Offer better, faster, and more secure products and services that support our customers’ growth.

Our values

A client centric, collaborative and consistent entity, committed to delivering superior experiences.

Our history

At AFS we take immense pride in our rich history and the milestones that have shaped us into the company we are today.

2024

Inaugurated a data center in Egypt.

2023

Launched the AFS Open Banking Hub.

2022

Commenced merchant acquiring business in Egypt.

2019

Launched Bahrain's first digital payroll solution.

2018

Launched Bahrain's first digital mobile wallet.

2018

Commenced merchant acquiring business in Bahrain.

2017

Commenced merchant acquiring business in Oman.

2011

Inaugurated a data center in the UAE.

2005

Began debit card processing services.

2003

Significant technology upgrade to Vision Plus card management system.

1999

Launched a card personalization center.

1991

Traveller's cheques sales surpassed $1 Billion.

1987

Began third party credit card processing.

1984

AFS is established. Travelers Cheques issuance commences.

Our team

Our seasoned team leads with vision and expertise, guiding our company towards a successful future.

Samer Soliman

Chief Executive Officer

Ghassan Mardini

Chief Operating Officer

Abdelmaguid Afifi

Chief Financial Officer

Charles Gill

Chief Transformation and Commercial Officer

Rizwan Khan

Managing Director, UAE & Oman

Tawfik Mahmoud

Managing Director, Egypt

Amira Ismail

Country Manager & Head of Acquiring - Bahrain

Ajmal Basheer

Head of Processing

Kavita Nair

Head of Legal

Khadija Ebrahim

Head of Human Resources

Ebrahim Jassim

Advisor to the CEO

Adel Al Mahmood

Head of Compliance & MLRO

Ganesh Patil

Head of Risk Management

Asif Meghani

Head of Internal Audit

Interested in a career at AFS?

Build the future of digital payments with us! Join our dynamic team and be part of a collaborative work culture that encourages professional growth, innovation, and creativity.

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Company announcements

Feb 4, 2025

2 min read

AFS and Nsano Partner to Transform Card Payments in Africa

Arab Financial Services (AFS), the Middle East and Africa region’s leading digital payment solutions provider and fintech enabler, signed a strategic partnership with Nsano, a leading pan-African payment processor and mobile money aggregator headquartered in Accra. This collaboration aims to expand digital payment options across Sub-Saharan Africa by leveraging the combined expertise of both companies.The partnership will enable Nsano to expand its offerings by integrating AFS’s state-of-the-art card processing services into its existing mobile money infrastructure. Through this agreement, Nsano will provide Visa and Mastercard processing including both issuing and acquiring services to financial institutions and merchants across the region. This collaboration is set to transform the payment ecosystem by connecting mobile money and card payments through the combined technology and expertise of AFS and Nsano.Mr. Samer Soliman AFS CEO commented: “This collaboration further expands our footprint into Africa, a region with immense potential for growth and innovation in digital payments. By combining our cutting-edge card processing capabilities with Nsano’s expertise in mobile money, we aim to deliver impactful solutions that enhance financial access and convenience for millions of users.”Nsano CEO Priscila Hazel emphasized the transformative potential of the partnership: “The decision to join forces with AFS was a no-brainer because we are both organizations with a customer-first approach. We are committed to expanding the scope of financial inclusion on the continent by providing solutions that solve customer pain points seamlessly. Partnering with AFS will enable us to extend the reach of digital financial services, empowering financial institutions and merchants to offer robust card and mobile payment options to their customers. Together, we will continue to revolutionize how payments are made and received across Sub-Saharan Africa.”Nsano’s deep knowledge of the African payment landscape, combined with AFS’s proven track record in card processing and payment solutions, will create an integrated system that nurtures innovation, accessibility, and efficiency for Nsano’s partners across the continent. The partnership will be a game-changer for electronic payment-enabled businesses across key markets in Sub-Saharan Africa.

Jan 27, 2024

2 min read

Arab Financial Services Expands into UAE to Advance Digital Payments Ecosystem

Arab Financial Services (AFS), a leading provider of digital payment solutions and a prominent fintech enabler across the Middle East and Africa, announced its strategic expansion into the United Arab Emirates (UAE). This move follows the successful acquisition of a Retail Payment Services License – Category II from the Central Bank of the UAE by Arab Financial Services L.L.C, allowing AFS to introduce a comprehensive suite of innovative and secure payment solutions tailored to the country's dynamic financial landscape."This license acquisition marks a pivotal juncture in our regional expansion strategy," said Samer Soliman, CEO of AFS. "We are excited to launch our innovative payment solutions in the UAE, a nation renowned for its progressive vision for digital transformation. Our advanced suite of services will empower consumers and businesses alike with enhanced convenience, security, and financial freedom.""Expanding into the UAE is a tremendous opportunity for us to bring our market-leading payment and fintech capabilities to a country that values innovation and security in digital financial services," said Rizwan Khan, Managing Director for AFS UAE and Oman. "We are delighted to partner with local businesses and regulatory bodies to help nurture an inclusive digital ecosystem that meets the fast-evolving needs of the UAE and contribute to strengthening the country’s standing as a global fintech hub."Backed by a substantial US$150 million in funding, AFS's entry into the UAE market highlights its steadfast commitment to revolutionizing the financial services sector. This strategic initiative aligns seamlessly with the country's ambition to solidify its position as a global financial leader. By leveraging its deep expertise and advanced technology, AFS is set to empower businesses and consumers with secure, user-centric payment solutions that enhance financial accessibility and significantly contribute to the UAE's economic growth.To mark the occasion, AFS hosted a high-profile launch event in the UAE. Distinguished guests included AFS Chairman Sael Al Waary and Board of Directors, as well as government officials, VIPs, partners, merchants, and industry leaders. The event celebrated the company's remarkable achievements and underscored its immense potential to advance the country's digital payments ecosystem.As AFS embarks on this new chapter, it remains dedicated to shaping the future of digital payments, empowering communities, and enabling financial inclusion in the UAE and beyond.

Dec 01, 2024

1 min read

AFS Celebrates Bahraini Women’s Day with a Commitment to Empowerment and Entrepreneurship

Arab Financial Services (AFS), the Middle East and Africa region’s leading digital payment solutions provider and fintech enabler, celebrated Bahraini Women’s Day on 1st December with a heartfelt initiative aimed at empowering women entrepreneurs.In collaboration with the Royal Humanitarian Foundation (RHF), AFS extended its support to the Netaj initiative, a program dedicated to equipping women with the skills and mentorship needed to turn their crafts into established businesses. As part of the event, AFS welcomed the RHF team and three inspiring women from the Netaj initiative to its headquarters. The women shared their success stories, highlighting how the program has helped them support their families and build sustainable livelihoods after losing their partners.Mrs. Amira Ismail, AFS Country Manager – Bahrain, said: 'At AFS, we are committed to fostering a culture of empowerment and inclusivity. Partnering with RHF on the Netaj initiative aligns with our values and vision to support women in realizing their entrepreneurial potential. The inspiring stories shared today reflect the resilience and determination of these remarkable women, and we are honored to play a role in their journey to success.'The collaboration underscores AFS’s dedication to community development and gender equality, particularly through initiatives that enable women to achieve financial independence and contribute meaningfully to society.

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.

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