Latest news with #MawaridFinance
Daily Tribune
2 days ago
- Business
- Daily Tribune
Bahrain firm powers UAE launch
TDT| Manama Bahrain's fintech leadership is driving digital change in the UAE, with Bahrain-based Arab Financial Services (AFS) powering the launch of a fully app-based credit card solution in collaboration with Mawarid Finance. The new platform lets customers apply, receive, and manage credit cards instantly, without visiting a branch or signing a single form. Bahrain-built, region-ready The end-to-end solution, developed and enabled by AFS, marks a major milestone in the GCC's shift toward mobile-first financial services. Regulated by the Central Bank of Bahrain, AFS is playing a growing regional role in delivering seamless digital finance tools across borders. The app allows users to complete the full credit card journey - from application to approval to daily account management - directly from their smartphones. It eliminates the need for physical paperwork or in-person appointments and offers real-time access to spending data and account controls. Shariah-compliant and secure Mawarid Finance, the UAEbased Islamic finance group, partnered with AFS to design the solution to be both fully Shariah-compliant and aligned with modern security standards. Executives from both companies signed the agreement at a recent ceremony, underscoring their shared commitment to digital innovation. 'This platform reflects our commitment to making secure, efficient, and simple financial access a reality for our customers,' said Rashid Al Qubaisi, CEO of Mawarid Finance. AFS CEO Samer Soliman noted: 'Our partnership with Mawarid proves the strength of Bahrain's fintech sector in enabling advanced digital services across the region. It's a model of how traditional institutions and fintech can work together to deliver scalable, intuitive solutions.' Founded in Bahrain in 1984, AFS has become the region's leading digital payment solutions provider, with operations in Bahrain, Egypt, Oman, and the UAE. The launch with Mawarid adds to a growing list of projects where Bahrain-grown fintech tools are transforming user experience far beyond its borders.
Zawya
2 days ago
- Business
- Zawya
AFS and Mawarid Finance spearhead digital transformation in credit card services
Manama, Kingdom of Bahrain: In a significant leap forward for digital finance, Mawarid Finance, in strategic collaboration with Arab Financial Services (AFS), the leading digital payments solutions provider and fintech enabler across the Middle East and Africa, has officially launched a comprehensive digital application poised to redefine credit card issuance and management. This pioneering initiative underscores a shared commitment to accelerating digital transformation and elevating the customer experience within the financial services landscape. The newly introduced application represents a robust smart solution, offering a fully digitized journey from initial application submission and approval to card issuance and direct, real-time management via a smartphone. This seamless process effectively eliminates the conventional necessity for branch visits or physical signatures, translating directly into considerable time savings and enhanced convenience for customers. This pivotal launch is the direct outcome of a strategic agreement between Mawarid Finance and AFS, meticulously crafted to deliver advanced digital financial solutions. These solutions not only cater to the evolving needs of the local market but also align with prevailing global trends in financial technology. The application empowers users to instantly and securely issue credit cards, seamlessly track transactions, and manage their accounts in real-time, all fortified by state-of-the-art data protection and privacy technologies. The official signing ceremony, marking this collaborative milestone, was attended by key leadership, including Mr. Samer Soliman, CEO of AFS, and Mr. Rashid Al Qubaisi, CEO of Mawarid Finance. Both executives emphasized the profound significance of this partnership in stimulating innovation and expanding the breadth of digital services accessible within the vibrant UAE financial market. Commenting on this transformative development, Mr. Rashid Al Qubaisi stated: "At Mawarid Finance, our core commitment revolves around delivering digital solutions that not only meet but exceed our customers' expectations. This innovative platform is a testament to our relentless pursuit of empowering customers with secure, efficient, and exceptionally easy access to our comprehensive suite of products." Echoing this sentiment, Mr. Samer Soliman added: "This collaboration exemplifies a highly successful model of integration between established financial institutions and agile fintech companies. Together, we are meticulously crafting and delivering innovative digital experiences that not only adhere to rigorous global standards but also provide users with an intuitively seamless and highly secure financial journey." This strategic launch is an integral component of Mawarid Finance's broader vision to expand its customer base and introduce agile, digital-first products designed to support the diverse needs of both individual consumers and corporate entities, thereby significantly accelerating access to modern, secure, and user-centric financial services across the region. AFS Media Relations Email: pr@ About AFS: Arab Financial Services (AFS) was formed in 1984 to provide payment products, services and expertise to banks and merchant groups and deliver customized payment solutions in an increasingly divergent, disruptive, and dynamic payment ecosystem. AFS is owned by 37 banks and financial institutions and serves over 60 clients in more than 20 countries across the Middle East and Africa. Today, AFS is the region's leading digital payment solutions provider and fintech enabler. Regulated by the Central Bank of Bahrain and the Central Bank of Egypt and licensed by the Central Bank of UAE, its dedication to innovation has made AFS a driving force in the market offering a rich portfolio of payment solutions including Open Banking Hub, popular digital wallets, market-leading merchant acquisition services, digital payroll solutions and more. Providing the highest quality payments solutions that are trusted by businesses, AFS has offices and data centers in the Kingdom of Bahrain, Arab Republic of Egypt, Sultanate of Oman, and the United Arab Emirates. About Mawarid: Mawarid Finance PJSC is an Islamic finance and investments group licensed by the UAE Central Bank. Mawarid Finance was formed in 2006 in Dubai, United Arab Emirates, with a paid-up capital of AED 1 billion to launch a new vision in Islamic Finance by adding more value to the industry through developing innovative Shariah compliant products for both individual and corporate customers Mawarid was founded upon and continues to believe in Innovation. We aim to be different, unique and 'special' in everything we do. Mawarid's focus has also been on supporting and developing the national economy through the provision of Islamic financial products and services for small & medium enterprises, enabling them to grow and in turn fostering the growth of the economy. Over the years, Mawarid's strategic approach has been on emerging from an Islamic financial services company to a Conglomerate building synergy through the acquisition of complimentary and supplementary shariah compliant businesses. Today, Mawarid maintains a healthy and well diversified portfolio of investments across a wide spectrum of industry sectors and asset classes across the MENA region Mawarid Finance in its young history has collected several awards, locally and internationally, in business, gained ISO 9001:2008 certification, and is considered as a very successful brand in the UAE.
Gulf Today
22-05-2025
- Business
- Gulf Today
O Gold and Mawarid Finance announce strategic partnership to launch the region's first shariah-compliant gold-backed prepaid card
In a landmark move for ethical finance and fintech advancement, O Gold, the UAE's leading digital gold investment platform, has partnered with Mawarid Finance, a premier UAE-based Shariah-compliant financial institution established in 2006, to jointly develop and launch the region's first Shariah-compliant prepaid card backed by physical gold. Founded to democratize access to precious metals, O Gold offers users a seamless platform to buy, sell, lease, and redeem physical gold and silver—whether for investment or everyday use. With features like physical redemption and gold-backed savings tools, O Gold is redefining how individuals engage with real assets in a digital-first era. Backed by partnerships with globally recognized entities such as SAM Precious Metals and AKW Consultants, O Gold brings physical and digital gold to users' fingertips. Mawarid Finance, a premier UAE-based Shariah-compliant financial institution established in 2006, offers a comprehensive suite of ethical banking and finance solutions. With a mission to support ethical growth through innovative financial services, Mawarid serves individuals, SMEs, and corporate clients—championing transparency, social responsibility, and integrity in all its operations. This strategic collaboration aims to reshape how individuals interact with gold—transitioning it from a traditional store of value into a dynamic, ethical financial tool. Built on shared values of trust, transparency, and compliance with Islamic finance principles, the initiative reflects a growing demand for real asset-backed solutions in the digital age. 'Our objective is to offer customers ethical financial products that combine the timeless value of gold with practical modern use,' said Bandar Alothman, Founder of O Gold. 'This partnership with Mawarid Finance is a significant milestone in our mission to bring inclusive and Shariah-compliant innovation to the market.' 'Leveraging our deep expertise in Shariah-compliant finance, Mawarid Finance is excited to collaborate with O Gold on this groundbreaking initiative,' said Rashid Al Qubaisi, CEO of Mawarid Finance. 'This partnership allows us to extend the benefits of real asset-backed value to a wider audience through a convenient and ethically sound prepaid card.' The initiative is designed to serve a wide range of users seeking ethical, secure, and asset-backed financial alternatives—reinforcing both organizations' commitment to responsible innovation. For more information or to express interest, visit
Zawya
09-05-2025
- Business
- Zawya
O Gold and Mawarid Finance announce strategic partnership to launch the region's first Shariah-compliant gold-backed prepaid card
Dubai, United Arab Emirates – In a landmark move for ethical finance and fintech advancement, O Gold, the UAE's leading digital gold investment platform, has partnered with Mawarid Finance, a premier UAE-based Shariah-compliant financial institution established in 2006, to jointly develop and launch the region's first Shariah-compliant prepaid card backed by physical gold. Founded to democratize access to precious metals, O Gold offers users a seamless platform to buy, sell, lease, and redeem physical gold and silver—whether for investment or everyday use. With features like physical redemption and gold-backed savings tools, O Gold is redefining how individuals engage with real assets in a digital-first era. Backed by partnerships with globally recognized entities such as SAM Precious Metals and AKW Consultants, O Gold brings physical and digital gold to users' fingertips. Mawarid Finance, a premier UAE-based Shariah-compliant financial institution established in 2006, offers a comprehensive suite of ethical banking and finance solutions. With a mission to support ethical growth through innovative financial services, Mawarid serves individuals, SMEs, and corporate clients—championing transparency, social responsibility, and integrity in all its operations. This strategic collaboration aims to reshape how individuals interact with gold—transitioning it from a traditional store of value into a dynamic, ethical financial tool. Built on shared values of trust, transparency, and compliance with Islamic finance principles, the initiative reflects growing demand for real asset-backed solutions in the digital age. 'Our objective is to offer customers ethical financial products that combine timeless value of gold with practical modern use,' said Bandar Alothman, Founder of O Gold. 'This partnership with Mawarid Finance is a significant milestone in our mission to bring inclusive and Shariah-compliant innovation to the market.' 'Leveraging our deep expertise in Shariah-compliant finance, Mawarid Finance is excited to collaborate with O Gold on this groundbreaking initiative,' said Rashid Al Qubaisi, CEO of Mawarid Finance. 'This partnership allows us to extend the benefits of real asset-backed value to a wider audience through a convenient and ethically sound prepaid card.' The initiative is designed to serve a wide range of users seeking ethical, secure, and asset-backed financial alternatives—reinforcing both organizations' commitment to responsible innovation.
Zawya
27-04-2025
- Business
- Zawya
Mawarid Finance and its partners showcase innovative digital transformation and banking solutions
Dubai, United Arab Emirates: The Fintech and Innovation Summit, held recently organized by Mawarid Finance at the Palazzo Versace Hotel in Dubai under the theme "Empowering Innovation in Finance," spotlighted pioneering expertise in the digital transformation of financial services and innovations in core banking solutions. The summit also explored the promising future of Islamic fintech in the UAE. The event brought together over 300 senior executives and decision-makers from institutions operating in the technology and financial services sectors, specializing in advanced banking solutions and digital transformation, alongside representatives from Al Qasimia University in Sharjah. Leading organizations including Cedar Management Consulting, Mastercard, BML Technology, Arab Financial Services (AFS), and Al Qasimia University showcased their latest rapidly deployable trends and innovations designed to serve the UAE's banking sector. These initiatives are set to address the evolving needs of the rapidly expanding fintech industry, and are expected to drive a major leap forward in Islamic fintech. Ultimately, they aim to deliver innovative, high-quality services to Mawarid Finance's clients and to strengthen the UAE's position as a hub for modern banking solutions that support the digital economy. During the summit, His Excellency Rashid Al Qubaisi Chief Executive Officer of Mawarid Finance, announced a series of partnerships the organization has recently established with leading companies both domestically and internationally. He also hinted at upcoming agreements with major institutions, describing them as "partners of success." Al Qubaisi reaffirmed Mawarid Finance's commitment to providing customized, innovative solutions tailored to the unique needs of each partner, moving beyond a one-size-fits-all approach — all with the aim of serving and empowering its valued clients. His Excellency emphasized that Mawarid Finance, through its future-focused vision, is determined to serve as a true enabler for fintech companies, providing them with the tools they need to swiftly and efficiently launch digital financial services. He highlighted the company's commitment to fostering a fully integrated digital services environment, prioritizing transparency, leveraging data for informed investment decisions, and strategically planning every step to overcome challenges and achieve ambitious goals. At the conclusion of the summit, His Excellency honored the organization's success partners and event sponsors, whose contributions have been instrumental in Mawarid Finance's notable achievements. Among those recognized were BML Technology, Arab Financial Services (AFS), and Falcon Eye Technology.
