Latest news with #RashidAlQubaisi
Zawya
09-07-2025
- Business
- Zawya
Mawarid Finance and AFS launch Smart POS Terminals to power seamless digital payments in the UAE
Manama, Kingdom of Bahrain: Mawarid Finance has announced today the launch of smart Point-of-Sale (POS) terminals for digital payments, in collaboration with Arab Financial Services (AFS), the leading digital payments solutions provider and fintech enabler in the Middle East and Africa. These cutting-edge POS terminals will now be available across retail outlets, stores, malls, and service providers, enabling merchants to accept seamless digital payments using all major credit and debit cards, as well as various digital wallets—delivering a faster, safer, and more convenient checkout experience for customers. Mr. Rashid AlQubaisi, Chief Executive Officer of Mawarid Finance, stated: 'As the financial landscape continues to evolve, Mawarid Finance remains committed to staying ahead of market trends and customer expectations. Our strategic partnership with AFS reflects this commitment and enables us to introduce exclusive, innovative solutions to the market. The launch of smart POS devices is a key milestone, empowering merchants with smarter sales tools and giving customers a seamless, secure, and flexible payment experience locally.' Mr. Samer Soliman, Chief Executive Officer of AFS, added: 'We're proud to partner with Mawarid Finance to introduce co-branded POS devices to the UAE market—a move that reinforces our shared focus on innovation and merchant and customer-centric solutions. These smart POS terminals are designed to enhance merchant sales while offering a smooth and efficient checkout experience through broad acceptance of digital wallets and credit and debit cards.' This collaboration marks a significant step forward in advancing digital payment innovation in the UAE, reinforcing the shared vision of both AFS and Mawarid to deliver faster, smarter, and more inclusive payment solutions for the market. 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.
Biz Bahrain
01-07-2025
- Business
- Biz Bahrain
Mawarid Finance and AFS Launch UAE Fintech Enablement Hub
In a pioneering move set to reshape fintech innovation in the UAE, Mawarid Finance and Arab Financial Services (AFS) today signed a strategic agreement to launch an integrated Fintech Enablement Hub, a unified platform designed to empower fintechs with seamless access to regulated infrastructure and next-generation digital capabilities. This collaboration combines global technology leadership, BIN sponsorship, and advanced processing capabilities into one integrated framework. The initiative simplifies how fintechs bring card programs to market by merging scheme connectivity, issuing, processing, and enablement tools onto a single, frictionless platform. The partnership leverages Mastercard Product Express, a platform designed for fintechs, enabling the innovation necessary to meet their customer needs, and helping reduce their time to market by providing them with the tools, resources and partners required to launch and scale. The Product Express platform allows fintechs to easily select the product that best meets their needs, choose plan-certified partners ready to implement, e.g. with live BINs and pre-approved card designs, and the ability to track progress in full transparency across all steps to be completed by all parties. This allows them to drastically reduce the time to market with the platform providing a way for fintechs to launch card programs in as fast as 15 days. Rashid Al Qubaisi, Chief Executive Officer of Mawarid Finance, said, 'This collaboration places Mawarid Finance at the core of a best-in-class fintech enablement model in the UAE. As BIN sponsor, we are proud to provide the regulatory and operational foundation that allows fintechs to move from concept to card issuance with speed, security, and full compliance. This partnership reflects our commitment to supporting national innovation goals by empowering new business models and creating real pathways for growth, scale, and market impact.' Samer Soliman, Chief Executive Officer of AFS, remarked that: ''By leveraging our deep technological expertise, AFS delivers a unified, frictionless platform that dramatically accelerates time-to-market for card programs. This empowers the next wave of digital-first companies to build, launch, and scale their solutions with optimal agility and confidence'. This collaboration marks a major step toward advancing digital enablement in the UAE, offering fintechs a clear, streamlined path to build and scale card products all within a single, unified experience.
Bahrain This Week
30-06-2025
- Business
- Bahrain This Week
Mawarid Finance and AFS Launch UAE Fintech Enablement Hub
In a pioneering move set to reshape fintech innovation in the UAE, Mawarid Finance and Arab Financial Services (AFS) today signed a strategic agreement to launch an integrated Fintech Enablement Hub, a unified platform designed to empower fintechs with seamless access to regulated infrastructure and next-generation digital capabilities. This collaboration combines global technology leadership, BIN sponsorship, and advanced processing capabilities into one integrated framework. The initiative simplifies how fintechs bring card programs to market by merging scheme connectivity, issuing, processing, and enablement tools onto a single, frictionless platform. The partnership leverages Mastercard Product Express, a platform designed for fintechs, enabling the innovation necessary to meet their customer needs, and helping reduce their time to market by providing them with the tools, resources and partners required to launch and scale. The Product Express platform allows fintechs to easily select the product that best meets their needs, choose plan-certified partners ready to implement, e.g. with live BINs and pre-approved card designs, and the ability to track progress in full transparency across all steps to be completed by all parties. This allows them to drastically reduce the time to market with the platform providing a way for fintechs to launch card programs in as fast as 15 days. Rashid Al Qubaisi, Chief Executive Officer of Mawarid Finance, said, 'This collaboration places Mawarid Finance at the core of a best-in-class fintech enablement model in the UAE. As BIN sponsor, we are proud to provide the regulatory and operational foundation that allows fintechs to move from concept to card issuance with speed, security, and full compliance. This partnership reflects our commitment to supporting national innovation goals by empowering new business models and creating real pathways for growth, scale, and market impact.' Samer Soliman, Chief Executive Officer of AFS, remarked that: ''By leveraging our deep technological expertise, AFS delivers a unified, frictionless platform that dramatically accelerates time-to-market for card programs. This empowers the next wave of digital-first companies to build, launch, and scale their solutions with optimal agility and confidence'. This collaboration marks a major step toward advancing digital enablement in the UAE, offering fintechs a clear, streamlined path to build and scale card products all within a single, unified experience.
Daily Tribune
03-06-2025
- 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.
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
