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Aafaq Islamic Finance (Aafaq), an award-winning UAE-based company providing innovative Islamic financial products and services, has selected Mastercard as the exclusive strategic partner for its credit, prepaid and commercial SME products. The agreement was formalized at a signing ceremony attended by senior executives from both entities.
As part of the partnership, Mastercard will use its advanced technology to strengthen Aafaq’s digital capabilities and unlock new opportunities for its individual and SME customers as it supports Aafaq’s vision to become the UAE’s most popular destination for digital Islamic financing.
“Working with our extensive partner network, Mastercard is developing locally relevant solutions that help build a robust and inclusive payments ecosystem. Our partnership with Aafaq will roll out to people and businesses in the UAE A full suite of innovative products tailored to their needs and lifestyles,” said Olivia Bellingham, Mastercard EEMEA Senior Vice President and Head of Mastercard Direct Services.
seamless and efficient
“At Aafaq, we are focused on delivering a seamless and efficient customer experience in the Islamic finance space. We believe our partnership with Mastercard will support our growth and innovation strategy and allow us to expand our digital proposition, To meet the changing needs of customers,” said Hisham Hammoud, Group Chief Executive Officer, Aafaq Islamic Finance.
“For 35 years, Mastercard has been supporting the UAE’s digital transformation journey. We are delighted to join forces with Aafaq as we empower people and businesses with the latest payment innovations in our efforts to create an inclusive and sustainable digital economy part of this,” said Gina Petersen-Skyrme, Vice President and Head of Country Business Development, UAE Oman, Mastercard.
Established in 2006, Aafaq specializes in providing government-related financial services and Shariah-compliant solutions in the UAE and wider region. Full autonomy makes it unique among domestic financial companies. — trade arab news agency
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