ila Bank & Arab Financial Services partner for prepaid card offering

By Delisha Fernandes

Arab Financial Services announced that it has powered the newly launched prepaid cards offering from ila Bank, Bahrain’s digital, mobile-only bank.

Ila’s prepaid cards are features-led, giving users ATM cash flexibility, convenience, and security. AFS has partnered with ila Bank since its establishment in Bahrain in 2019, supporting it with payments technology co-innovation to boost digital banking penetration in the Kingdom.

Mohamed Al Maraj, ila Bank CEO, said, “As the region’s fast-growing digital, mobile-only bank, we are committed to offering innovative digital banking products that cater to different market segments and drive financial inclusion in the country. Not only is this part of our support of Bahrain’s vision for a cashless society but also key to our technology-led approach to payments. We work with like-minded partners such as Arab Financial Services to deliver a diverse range of versatile, convenient, and secure payment products that address the varying banking needs of our customer community.”

These seamless and secure cards offer customers complete control of their transactions through the ila app, including setting a limit for retail transactions, whether POS or e-Commerce, ATM cash withdrawals, and the number of transactions each day.

Samer Soliman, Chief Executive Officer AFS, said, “AFS is proud of the successful rollout and exceptional performance of ila Bank’s prepaid card solution. To date, AFS has successfully rolled out ila Bank’s ATM enabling, debit and credit card processing and mobile application integration and services. This list has been expanded to include ila’s prepaid card solution, which underscores AFS’s position as the preferred payments partner for banks, FinTechs, and financial institutions across the region.”