Investor relations | Arab Financial Services

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 licensed by the Central Bank of Egypt and the Central Bank of UAE, 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

Latest news & announcements

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Partnership

Jul 9, 2025

2 min read

Mawarid Finance and AFS Launch Smart POS Terminals to Power Seamless Digital Payments in the UAE

Mawarid Finance has announced today the launch of smart Point-of-Sale (POS) terminals for digital payments, in collaboration with Arab Financial Services (AFS), the leading digital payments solutions provider and fintech enabler in the Middle East and Africa. These cutting-edge POS terminals will now be available across retail outlets, stores, malls, and service providers, enabling merchants to accept seamless digital payments using all major credit and debit cards, as well as various digital wallets—delivering a faster, safer, and more convenient checkout experience for customers.Mr. Rashid AlQubaisi, Chief Executive Officer of Mawarid Finance, stated: “As the financial landscape continues to evolve, Mawarid Finance remains committed to staying ahead of market trends and customer expectations. Our strategic partnership with AFS reflects this commitment and enables us to introduce exclusive, innovative solutions to the market. The launch of smart POS devices is a key milestone, empowering merchants with smarter sales tools and giving customers a seamless, secure, and flexible payment experience locally.”Mr. Samer Soliman, Chief Executive Officer of AFS, added: “We’re proud to partner with Mawarid Finance to introduce co-branded POS devices to the UAE market—a move that reinforces our shared focus on innovation and merchant and customer-centric solutions. These smart POS terminals are designed to enhance merchant sales while offering a smooth and efficient checkout experience through broad acceptance of digital wallets and credit and debit cards.”This collaboration marks a significant step forward in advancing digital payment innovation in the UAE, reinforcing the shared vision of both AFS and Mawarid to deliver faster, smarter, and more inclusive payment solutions for the market.

Partnership

Jun 30, 2025

2 min read

AFS and Mawarid Finance Launch UAE Fintech Enablement Hub

In a pioneering move set to reshape fintech innovation in the UAE, Mawarid Finance and Arab Financial Services (AFS) today signed a strategic agreement to launch an integrated Fintech Enablement Hub, a unified platform designed to empower fintechs with seamless access to regulated infrastructure and next-generation digital capabilities.This collaboration combines global technology leadership, BIN sponsorship, and advanced processing capabilities into one integrated framework. The initiative simplifies how fintechs bring card programs to market by merging scheme connectivity, issuing, processing, and enablement tools onto a single, frictionless platform.The partnership leverages Mastercard Product Express, a platform designed for fintechs, enabling the innovation necessary to meet their customer needs, and helping reduce their time to market by providing them with the tools, resources and partners required to launch and scale. The Product Express platform allows fintechs to easily select the product that best meets their needs, choose plan-certified partners ready to implement, e.g. with live BINs and pre-approved card designs, and the ability to track progress in full transparency across all steps to be completed by all parties. This allows them to drastically reduce the time to market with the platform providing a way for fintechs to launch card programs in as fast as 15 days.Rashid Al Qubaisi, Chief Executive Officer of Mawarid Finance, said, “This collaboration places Mawarid Finance at the core of a best-in-class fintech enablement model in the UAE. As BIN sponsor, we are proud to provide the regulatory and operational foundation that allows fintechs to move from concept to card issuance with speed, security, and full compliance. This partnership reflects our commitment to supporting national innovation goals by empowering new business models and creating real pathways for growth, scale, and market impact.”Samer Soliman, Chief Executive Officer of AFS, remarked that: “'By leveraging our deep technological expertise, AFS delivers a unified, frictionless platform that dramatically accelerates time-to-market for card programs. This empowers the next wave of digital-first companies to build, launch, and scale their solutions with optimal agility and confidence”.This collaboration marks a major step toward advancing digital enablement in the UAE, offering fintechs a clear, streamlined path to build and scale card products all within a single, unified experience.

Announcement

Jun 23, 2025

2 min read

AFS Achieves Perfect Record in Fraud Loss Prevention for Bank Clients

Arab Financial Services (AFS), the leading digital payments solutions provider and fintech enabler in the Middle East and Africa, today announced that its bank clients across the region experienced zero fraud losses over the past 12 months. This significant achievement is attributed to AFS’s advanced risk and fraud prevention tools, real-time monitoring systems, and dedicated team.AFS provides its clients with comprehensive fraud protection by leveraging AI-powered analytics, real-time transaction monitoring, on-behalf fraud services, and advanced authentication tools. This robust framework not only safeguards customer data and secures financial transactions but also improves operational efficiency and builds long-term customer trust.“This is a major achievement—not just for AFS, but for every banking partner we serve,” said Ajmal Basheer, AFS Head of Processing. “Our fraud management framework has proven its strength, protecting our clients and their customers. We remain committed to staying ahead of fraud through constant innovation, vigilance, and collaboration.”Basheer further emphasized, “As the volume and complexity of digital transactions continue to grow, AFS is focused on empowering financial institutions to operate with absolute confidence and maximum efficiency, underpinned by our best-in-class fraud prevention capabilities.”Beyond proactive defence, AFS’s sophisticated risk and fraud management solution delivers critical insights into emerging risk patterns and evolving fraud trends. This enables banks to make informed, strategic decisions that effectively neutralize future threats. AFS continues to make substantial investments in enhancing its fraud detection capabilities, ensuring they are faster, more accurate, and more intelligent to guarantee seamless and supremely secure digital payments across the entire region.

Partnership

Jun 2, 2025

2 min read

AFS and Mawarid Finance Spearhead Digital Transformation in Credit Card Services

In a significant leap forward for digital finance, Mawarid Finance, in strategic collaboration with Arab Financial Services (AFS), the leading digital payments solutions provider and fintech enabler across the Middle East and Africa, has officially launched a comprehensive digital application poised to redefine credit card issuance and management. This pioneering initiative underscores a shared commitment to accelerating digital transformation and elevating the customer experience within the financial services landscape.The newly introduced application represents a robust smart solution, offering a fully digitized journey from initial application submission and approval to card issuance and direct, real-time management via a smartphone. This seamless process effectively eliminates the conventional necessity for branch visits or physical signatures, translating directly into considerable time savings and enhanced convenience for customers.This pivotal launch is the direct outcome of a strategic agreement between Mawarid Finance and AFS, meticulously crafted to deliver advanced digital financial solutions. These solutions not only cater to the evolving needs of the local market but also align with prevailing global trends in financial technology. The application empowers users to instantly and securely issue credit cards, seamlessly track transactions, and manage their accounts in real-time, all fortified by state-of-the-art data protection and privacy technologies.The official signing ceremony, marking this collaborative milestone, was attended by key leadership, including Mr. Samer Soliman, CEO of AFS, and Mr. Rashid Al Qubaisi, CEO of Mawarid Finance. Both executives emphasized the profound significance of this partnership in stimulating innovation and expanding the breadth of digital services accessible within the vibrant UAE financial market.Commenting on this transformative development, Mr. Rashid Al Qubaisi stated: "At Mawarid Finance, our core commitment revolves around delivering digital solutions that not only meet but exceed our customers’ expectations. This innovative platform is a testament to our relentless pursuit of empowering customers with secure, efficient, and exceptionally easy access to our comprehensive suite of products."Echoing this sentiment, Mr. Samer Soliman added: "This collaboration exemplifies a highly successful model of integration between established financial institutions and agile fintech companies. Together, we are meticulously crafting and delivering innovative digital experiences that not only adhere to rigorous global standards but also provide users with an intuitively seamless and highly secure financial journey."This strategic launch is an integral component of Mawarid Finance’s broader vision to expand its customer base and introduce agile, digital-first products designed to support the diverse needs of both individual consumers and corporate entities, thereby significantly accelerating access to modern, secure, and user-centric financial services across the region.

Building trust and driving value

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

Guiding our vision and strategy.

Mr. Sael Al Waary

Dr. Tarik Yousef

Mr. Maher Kaddoura

Mr. Musab M. Msallem

Mr. Suresh Padmanabhan

Mr. Siegfried Heimgaertner

Dr. Yousif Almas

Ensuring transparency with unrestricted access to key documents and statements.

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Latest news & announcements

Mawarid Finance and AFS Launch Smart POS Terminals to Power Seamless Digital Payments in the UAE

AFS and Mawarid Finance Launch UAE Fintech Enablement Hub

AFS Achieves Perfect Record in Fraud Loss Prevention for Bank Clients

AFS and Mawarid Finance Spearhead Digital Transformation in Credit Card Services

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