Manama, Kingdom of Bahrain – Arab Financial Services ( AFS ), the leading provider of digital payment solutions and fintech enabler in the Middle East and Africa, announced a strategic partnership with the Libyan Islamic Bank ( LIB ) to accelerate the modernization of Libya’s payment system through advanced card issuance and processing solutions and the development of digital infrastructure.

Through this collaboration, the Libyan Islamic Bank will benefit from AFS 's advanced Visa card issuance and processing services, enabling a faster and smoother registration process and enhancing the customer experience. The partnership also includes the adoption of AFS 's advanced security framework, which incorporates tokenization and encryption technologies to ensure transaction security and protect customer data across all digital channels. Furthermore, AFS will support the Libyan Islamic Bank in building a scalable infrastructure designed to support innovation, resilience, and future growth, paving the way for the launch of next-generation payment solutions in the Libyan market.

Dr. Samer Suleiman, CEO of AFS Group, said: “Seeing this strategy move from plans to tangible reality is a proud moment for our partnership. By leveraging AFS ’s advanced digital framework, the Libyan Islamic Bank will enhance its operations to deliver fast and seamless experiences that meet its customers’ expectations. This achievement represents a significant step forward for the Libyan financial sector, and AFS is proud to support this journey.”

Mr. Adel Saleh Kashad, General Manager of the Libyan Islamic Bank, said: “As Libya strives towards a more interconnected and less cash-dependent economy, our partnership with AFS enables us to offer secure, efficient and innovative card services that comply with international standards. By upgrading our payment infrastructure and adopting advanced technologies, we provide our customers with faster, safer and more convenient ways to complete their banking transactions, while supporting the goals of digital transformation and economic development in the country.”

This partnership is part of AFS 's expanding presence in North Africa and aligns with its strategic efforts to enhance regional connectivity, drive innovation, and promote financial inclusion in emerging markets. It also supports AFS 's core mission of enabling institutions to adopt modern payment infrastructure and accelerate the transition to a cashless digital economy in the region .

About AFS :

Arab Financial Services (AFS) was established in 1984 to provide digital payment products, services and expertise to banks and commercial groups, in addition to providing specialized payment solutions, in response to the development and continuous growth of the digital transactions market .

AFS is owned by 36 banks and financial institutions and serves more than 60 clients in over 20 countries across the Middle East and Africa. Today, AFS is the region’s leading provider of digital payment solutions and a fintech enabler. It is regulated by the Central Bank of Bahrain and the Central Bank of Egypt and licensed by the Central Bank of the UAE. AFS ’s innovative approach to financial services is demonstrated through a suite of leading payment solutions, including card processing, merchant acquisition, fintech solutions, and a range of value-added services. AFS has offices and data centers in the Kingdom of Bahrain, the Arab Republic of Egypt, the Sultanate of Oman, and the United Arab Emirates.

For media inquiries, please contact:

Email: pr@afs.com.bh

About the Libyan Islamic Bank :

The Libyan Islamic Bank is a leading financial institution established in Libya in 2017 with an authorized capital of 250 million Libyan dinars, which quickly rose to 500 million Libyan dinars in recent years. The Libyan Islamic Bank is the first bank to specialize in providing a full range of banking services and solutions compliant with Islamic Sharia principles, thus marking the beginning of a new chapter in the Libyan financial system .

Thanks to its strategic vision and extensive experience, the bank has succeeded in developing a range of innovative Islamic banking products and services to meet the needs of its individual and corporate clients in the local and international market .

The bank has a network of branches spread across several major Libyan cities, enabling it to serve its customers throughout the country .

Thanks to its strategic vision and extensive experience, the bank has succeeded in developing a range of innovative Islamic banking products and services to meet the needs of its individual and corporate clients in the local and international market .

The bank is keen to translate its values into tangible achievements, having obtained its first credit rating from a specialized international agency in the third quarter of 2023. It also obtained ISO 9001:2015 certification in quality and ISO 27001 certification in information security management systems, reflecting its commitment to the highest international standards in service and digital security .

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