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Aafaq Islamic Finance & Network International partners to accelerate digital transformation

By Delisha Fernandes

July 12, 2023

  • Digital Payments
  • Fraud Prevention
  • Islamic Finance
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NetworkAafaq Islamic Finance, a provider of Shariah-compliant financial products and services, has selected Network International, a digital commerce provider, to accelerate its digital transformation journey.

Network will provide end-to-end card processing solutions to facilitate Aafaq’s transition to a digital-first approach, making financing fast and convenient for its customers.

Hisham Hammoud, CEO of Aafaq Islamic Finance, said, “We are pleased to announce our partnership with Network International as our payments partner for our digital transformation journey. This collaboration aligns with our vision to provide our customers with innovative and convenient financial solutions.”

“By leveraging Network’s expertise in digital commerce and their robust card processing solutions, we aim to enhance our digital capabilities and deliver an exceptional customer experience. This partnership is a significant step towards solidifying Aafaq Islamic Finance’s position as a leading digital player in the Islamic financing market,” added Hammoud.

Network International will support Aafaq’s vision to become a digital player in the Islamic financing market through this partnership. It will leverage Aafaq’s digital-ready Shariah-compliant system to strengthen card processing solutions and unlock new revenue generation opportunities through value-added services such as Easy Payment Plans (EPP), cardholder self-service and control applications, and loyalty services. The Network will also offer virtual cards, tokenisation, and fraud prevention solutions.

Nandan Mer, Chief Executive Officer at Network International, said, “The UAE is among the fastest-growing digital payments markets in the world, and as a leading digital payments company with roots in the region, we are delighted to join forces with Aafaq and are confident that this partnership will propel their growth in the Islamic finance sector. We are committed to supporting Aafaq with our innovative payments solutions and contributing to the growth of the UAE economy.”

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