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 UAE.
The move follows the successful acquisition of a retail payment services license – category II from the Central Bank of the UAE.
The license enables AFS to introduce a comprehensive suite of innovative and secure payment solutions tailored to the country’s dynamic financial landscape, the company said.
“This license acquisition marks a pivotal juncture in our regional expansion strategy,” said Sam Soliman, CEO of AFS.
“Our advanced suite of services will empower consumers and businesses alike with enhanced convenience, security, and financial freedom,” he said.
Rizwan Khan, Managing Director for AFS UAE and Oman, said the company will 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 $150 million in funding, AFS’s entry into the Emirates market highlights its steadfast commitment to revolutionising the financial services sector.
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