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Arab Financial Services expands, boosting UAE’s FinTech scene

By Gloria Methri

January 31, 2025

  • Afs
  • Arab Financial Services
  • Central Bank of the UAE
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AFS, Arab Financial Services, UAEArab Financial Services (AFS) has announced its strategic expansion into the United Arab Emirates after securing a Retail Payment Services License – Category II from the Central Bank of the UAE. The license allows AFS to introduce a comprehensive suite of innovative and secure payment solutions tailored to the country’s dynamic financial landscape.

Samer Soliman, CEO of AFS, said, “We are excited to launch our innovative payment solutions in the UAE, a nation renowned for its progressive vision for digital transformation. Our advanced suite of services will empower consumers and businesses alike with enhanced convenience, security, and financial freedom.”

“Expanding into the UAE is a tremendous opportunity for us to bring our market-leading payment and FinTech capabilities to a country that values innovation and security in digital financial services,” said Rizwan Khan, Managing Director for AFS UAE and Oman. “We are delighted to partner with local businesses and regulatory bodies to help nurture an inclusive digital ecosystem that meets the fast-evolving needs of the UAE and contributes to strengthening the country’s standing as a global FinTech hub.”

Backed by $150 million in funding, AFS’s entry into the UAE market bolsters its commitment to revolutionising the financial services sector. By leveraging its expertise and advanced technology, AFS aims to empower businesses and consumers with secure, user-centric payment solutions that enhance financial accessibility and contribute to economic growth.

To mark the occasion, Arab Financial Services hosted a high-profile launch event in the UAE. Distinguished guests included AFS Chairman Sael Al Waary and the Board of Directors, as well as government officials, VIPs, partners, merchants, and industry leaders. The event celebrated the company’s achievements and underscored its potential to advance the country’s digital payments ecosystem.

As Arab Financial Services embarks on this new chapter, the company reaffirms its dedication to shaping the future of digital payments, empowering communities, and enabling financial inclusion in the UAE and beyond.

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