Arab Financial Services To Raise Us$ 98 Million To Support Growth Strategy

The shareholders of Arab Financial Services Company B.S.C.(c) ("AFS"), a leading digital payment solutions provider and fintech enabler in the Middle East and Africa, decided to increase the company's authorised share capital to US$ 150 million and its issued and paid-up share capital to US$ 98 million. The decision was taken at an extraordinary general meeting of shareholders held on 5 December 2021, subject to Central Bank of Bahrain approval. The capital increase aims to propel AFS's revenue growth and strategic expansion.