Headline:
“Fils and Arab Financial Services Forge Strategic Partnership to Drive Sustainable Digital Transformation in MENA Region”
“Leading UAE-based Digital Infrastructure Provider Teams Up with MEA’s Premier Payment Solutions Provider to Integrate Sustainability into Financial Operations”
In a groundbreaking move towards fostering sustainability and climate action in the Middle East and Africa (MEA) region, Fils, an enterprise-grade digital infrastructure provider based in the UAE, has announced a significant partnership with Arab Financial Services (AFS), a leading digital payment solutions provider and fintech enabler.
This collaboration signifies a pivotal step in promoting sustainable practices across various industries in the region. By leveraging Fils‘ cutting-edge fintech technology alongside AFS’s expertise and regional leadership in digital payments, the partnership aims to seamlessly integrate sustainability into businesses’ operations, customer journeys, and financial transactions.
AFS, with its presence in Bahrain, Egypt, Oman, and the UAE, holds a prominent position in delivering digital payments solutions and fintech services, catering to over 60 clients across more than 20 countries in the MEA region. Through the partnership with Fils, AFS aims to assist banks, financial institutions, and organizations in the MEA region in tracking and mitigating their emissions, thereby contributing to the global shift towards a low-carbon economy.
Samer Soliman, CEO of AFS, expressed pride in the strategic collaboration, emphasizing its role in advancing sustainable solutions within the digital payments landscape. Soliman noted that the partnership aligns with AFS’s Environmental, Social, and Governance (ESG) strategic objectives, driving the implementation of sustainability initiatives not only within their organization but also empowering partners and clients to achieve their environmental ambitions.
Nameer Khan, CEO of Fils, echoed Soliman’s sentiments, stating excitement about the strategic partnership with Arab Financial Services. Khan highlighted the potential of combining Fils’ advanced digital infrastructure with AFS’s leadership in electronic payments outsourcing to catalyze positive change across industries in the MENA region. He emphasized their shared commitment to sustainability and climate action, aiming to redefine responsible finance practices in the region and beyond.
Key highlights of the partnership between Fils and AFS include:
1. Sustainable Digital Transformation: Fils’ digital infrastructure will enable AFS to seamlessly integrate sustainability and climate action into its payments ecosystem, fostering the development of innovative solutions aimed at reducing carbon footprints and environmental impact.
2. Green Financial Products: The collaboration will explore opportunities to introduce sustainable financial products, with a focus on Islamic Credit Cards, incorporating ESG principles to set new industry standards for responsible and ethical financial services.
3. Enhanced Customer Experiences: Fils and AFS will collaborate to enhance customer journeys by providing eco-friendly and sustainable options for electronic payments, including user-friendly interfaces promoting responsible consumer choices and a positive environmental impact.
4. Industry Leadership in Sustainability: As pioneers in their respective fields, Fils and AFS aim to lead the financial and digital industries in the MENA region towards a more sustainable future, inspiring businesses to prioritize sustainability in their strategies and take measurable action to combat climate change.
Fils’ partnership with AFS adds to an impressive series of collaborations this year, including alliances with e& Enterprise, Mashreq Bank, and Flowcarbon. These partnerships solidify Fils’ position as a global leader in sustainable financial infrastructure, ushering in a new era of corporate sustainability and enabling organizations to contribute to the transition to a net-zero economy.
