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AFS and Fils Highlight Importance of Sustainable Finance and Driving Climate Change

Sustainable practices and driving climate change are emerging as key trends that businesses want to implement in their infrastructures. Making this process simpler, Fils, the UAE-based enterprise-grade digital infrastructure provider enabling companies to embed sustainability and climate action into their business models, is partnering with Arab Financial Services (AFS), the digital payment solutions provider and fintech enabler.

Leveraging Fils’s fintech technology and AFS’s expertise in digital payments, the partnership will be key to helping integrate sustainability seamlessly into businesses’ operations. It will also improve customer journeys, and financial transactions.

This partnership with AFS is hot on the heels of an impressive roster of collaborations so far this year. e& Enterprise, Mashreq Bank and Flowcarbon have all agreed to work with Fils’ cementing its place as a reputable player in sustainable finance.

AFS, which has offices in Bahrain, Egypt, Oman, and the UAE, serves over 60 clients across more than 20 countries in the Middle East and Africa region. Fils’ partnership with AFS enables a significant proportion of banks, financial institutions, and organisations in the MEA to track and mitigate their emissions. As a result, they will be able to aid the global transition to a low-carbon economy.

Samer Soliman, CEO of AFS commented: “We are proud to join forces with Fils in a strategic partnership to drive sustainable solutions within the digital payments landscape. This collaboration directly supports our ESG strategic goals by accelerating their implementation. As a leading digital payments provider, we embrace the responsibility to drive sustainability not only for ourselves but also empower our partners and clients to achieve their own environmental ambitions.”

Nameer Khan, chairman MENA Fintech Association and founder of FILS
Nameer Khan, CEO of Fils

Nameer Khan, CEO of Fils, said: “We are thrilled to embark on this strategic partnership with Arab Financial Services. By combining our advanced digital infrastructure with AFS’s leadership in electronic payments outsourcing, we have a unique opportunity to drive positive change across industries in the MENA region. Our shared commitment to sustainability and climate action will not only transform business operations but also redefine the landscape of responsible finance in the region and beyond.”

Setting a new standard going forward

The partnership will enable Fils’ digital infrastructure to empower AFS. Consequently, the digital payments solution provider will seamlessly integrate sustainability and climate action into its payments ecosystem. This includes developing innovative solutions that contribute to reduced carbon footprints and environmental impact.

Additionally, both firms seek to inspire businesses to prioritise sustainability in their business strategies and take measurable action to tackle climate change.

The collaboration will also explore opportunities to introduce sustainable financial products, with a specific focus on Islamic Credit Cards. By incorporating environmental, social, and governance (ESG) principles, both organisations aim to set new industry standards for responsible and ethical financial services.

Fils and AFS will work together to enhance customer journeys by providing eco-friendly and sustainable options for electronic payments. This includes the development of user-friendly interfaces that promote responsible consumer choices and a positive environmental impact.

 

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