Moamalat Financial Services and AFS partner to develop Libya’s payment ecosystem

By Leandra Monteiro

Arab Financial Services (AFS) and Moamalat Financial Services Co. have announced the signing of an MoU to enter a strategic partnership for the development of Libya’s electronic payment ecosystem.

AFS will use its expertise and experience in digital payments to advance the existing systems and provide consultancy, training, and knowledge transfer.

Through this MoU, AFS is committed to building the capacity of the payments sector in Libya in collaboration with Moamalat, with the objective of enhancing and empowering the Libyan payments ecosystem.

Samer Soliman, Chief Executive Officer at AFS said, “We are delighted to partner with Moamalat to extend our experience and payments expertise to the Libyan market. Through this Memorandum of Understanding (MoU), we will collaborate to promote knowledge transfer and technological enablement, and to explore future opportunities for cooperation. We believe that this partnership will accelerate the development of digital payments products, services, and solutions in Libya, and we look forward to working with Moamalat to achieve our shared objectives.

Alsanousi Abukhezaim, Chief Executive Officer of Moamalat said, “AFS as an international strategic partner will help Moamalat advance its offering to the Libyan market through knowledge transfer, expert consultancy and strategic planning.”

Moamalat Financial Services Co., is one of the leading companies in Electronic Payment Services in the Libyan market, managing the Libyan National Switch and providing diversified payments products to the Libyan banking industry.