MANAMA: Arab Monetary Providers (AFS), majority-owned by Bahrain-based Financial institution ABC, and Aafaq Islamic Finance have introduced a strategic partnership to help fintech startups in launching services within the UAE.
AFS, an end-to-end digital cost companies and options supplier, mentioned the partnership is integral to its regional associate programme whereby it offers a platform for fintech corporations to launch, develop and scale their merchandise throughout the area.
“Expertise and innovation have turn out to be an crucial in immediately’s fashionable funds system. AFS recognises the significance of new-age expertise and continues to create shared initiatives and platforms that help the event and development of the fintech ecosystem. On this collaboration, we’re combining experience and information that gives a framework of Financial institution Identification Quantity (BIN) sponsorship, expertise, operation and distribution to all fintechs and startups within the UAE,” mentioned AFS chief government Samer Soliman.
In accordance with Aafaq Islamic Finance chief government Rashid Al Qubaisi the settlement with AFS aligns with the Sharia-compliant agency’s dedication to supporting the UAE’s rising fintech ecosystem.
“Over the previous years, there was vital development in monetary expertise and digital companies. We purpose to succeed in a brand new section of consumers, with a purpose to maintain tempo with the quickly rising market. We’re excited to work with AFS – being one among our trusted companions, to carry modern merchandise to the market,” he added.
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