- On 19/05/2016
Mr. Ahmed Alrefaei , COO Al Masraf; Mr. Faisal Galadari , CEO Al Masraf; Mr. Sael Alwaary, Chairman AFS; Mr. B Chandrasekhar, CEO AFS; Mr. Neil Pavis, Dy CEO AFS
Abu Dhabi / Manama, 19th May 2016 – Arab Financial Services (AFS), a leading payment processing company in the region has recently partnered with Al Masraf, a leading Bank in the UAE, to enable Al-Masraf to have access to a state-of-the-art payment processing platform. This partnership provides Al Masraf the credit and debit card processing capabilities along with the latest suite of value added services including rewards, online loyalty redemption, card analytics, instant card issuance, and mobile based installment plans.
On the occasion, Mr. Faisal Galadari, CEO of Al Masraf, UAE said, “Our vision is to become an innovative and preferred financial partner for all the banking services. We want to provide the best customer service experience and we are pleased to partner with AFS who is a leading player in the region. The migration has been completed successfully and we will be introducing new value added services soon.”
Chairman of AFS, Mr. Sael Alwaary said, “AFS is committed to increasing its presence in the UAE and we are proud of the partnership with Al Masraf. We are confident this partnership will reach greater heights in the future.”
Mr. B Chandrasekhar, CEO of AFS added “While AFS has already many customers in UAE for credit card processing services, Al Masraf is our first client in UAE to have the full suite of debit and credit card processing services and the first client using our UAE debit processing platform. We thank the CEO and the Management of Al Masraf for the support provided during the migration.”
About Al Masraf:
Arab Bank for Investment & Foreign Trade (Al Masraf), UAE was established in November 1975 and started its banking operations according to the Federal Decree no. 50 issued and signed by His Highness Sheikh Zayed Bin Sultan Al Nahyan in 1976. Al Masraf is owned by the Federal Government of the United Arab Emirates (42.28%), the Libyan Foreign Bank, Libya (42.28%) and La Banque Exterieure d’Algerie, Algeria (15.44%). The Bank offers a full range of financial services including Consumer Banking, Corporate Banking, Islamic Banking and Treasury and Investment services.
About Arab Financial Services
AFS is the region’s leading provider of electronic-payments and consumer-finance outsourcing services. Created by the financial industry in 1984 to service and support financial institutions in the region and beyond, AFS is owned by 40 of the region’s leading banks and currently provides outsourcing services to over 65 banks and financial institutions.