AFS signs credit bureau agreement with NCB
Bahrain based Arab Financial Services has signed a credit card bureau processing agreement with Saudi Arabia's National Commercial Bank
Arab Financial Services (AFS), which is owned by 55 major Arab and International Banks from 20 countries and provides products and services to the Arab banking community, has signed a major card bureau agreement with Saudi Arabia’s National Commercial Bank (NCB).
The agreement, will enable AFS to process over 55,000 credit cards and support financial institutions; offering a wide range of services to more than 300 merchants in Saudi Arabia. The company, which is involved in bureau processing and software services for back office accounting, has a diverse payment system of products and services.
“This agreement is a great achievement for AFS as we have worked vigorously over the last few years to enhance our IT systems,” said Mahmood Al Koofi, general manager of AFS. “NCB evaluated more than one option for this purpose and has selected AFS. We are extremely glad we were selected and are committed more than ever to providing our support to the regions banks in all areas relating to credit card outsourcing,” he added.