Arab Financial Services (AFS), the Middle East and Africa region’s leading digital payment solutions provider and fintech enabler, has expanded the scope of its decade-long partnership with Mawarid Finance, a UAE-based innovator in the Islamic finance space.
Through this partnership, AFS is empowering the relaunch of Mawarid Finance’s credit portfolio by introducing advanced digital capabilities. This includes the development of a cutting-edge mobile application and a fully digital onboarding experience for cardholders, replacing traditional models.
Mawarid Finance also leverages its principal membership with Mastercard alongside AFS’s robust processing capabilities to offer BIN sponsorship services. This collaboration opens the door for fintechs to access reliable sponsorship and processing solutions, fostering innovation and supporting the growth of emerging talent in the financial sector.
“This partnership demonstrates our commitment to innovation and collaboration with Mawarid Finance. We share a vision to drive significant advancements in the financial landscape by fostering the widespread adoption of innovative technologies across the region. Through this collaboration, we will empower fintechs to bring their advanced solutions to market, leveraging the combined expertise, robust infrastructure, and market reach of both AFS and Mawarid Finance.”
Mawarid Finance’s CEO Mr. Rashid Al Qubaisi, commented that, “This collaboration is an exciting step forward in our journey toward digital excellence. AFS’s expertise in digital payments and processing ensures we can deliver exceptional solutions to our customers and provide valuable opportunities for fintechs to thrive.”
By providing seamless access to essential payment infrastructure, AFS empowers Fintechs to accelerate their growth and deliver cutting-edge solutions, ultimately driving greater financial inclusion and fostering a more competitive market.
