Arab Financial Services (AFS), a subsidiary of Bank ABC, has appointed Samer Soliman as the new CEO effective January 2, 2021. The current CEO, B Chandrasekhar, will be stepping down after retirement on December 31, 2020.

Chandrasekhar has served in this role since 2011, and during his tenure has been responsible for significant developments in the AFS business, encompassing major diversification of its business model including, most recently, the establishment of the widely recognised AFS FinTech and Acquiring divisions.

Commenting on this development, AFS Chairman, Sael Al Waary said: “On behalf of the AFS Board of Directors I extend our sincere thanks to B Chandrasekar for his dedication, contributions and multiple achievements for the business of AFS over the last nine years – we wish him every success in his future endeavours.”

Soliman is a strategic leader with over 20 years of international experience across the banking and payments sector, bringing a unique blend of payments, technical, and regional expertise to the role. He has previously served as Network International’s Managing Director for the Group’s Middle East operations, where he was responsible for the regional acquiring and issuing business activities, and for implementing a comprehensive growth strategy across the Middle East.

Soliman is also Board Member of Diners Club Egypt and Levant and Board Member of AUB Acquiring. He sits on the Advisory Board of UnionPay International, representing the Middle East region, and is Board Advisor to Sarwa Digital Wealth Limited and Board Member of SP Jain Global School of Management.

Going forward, he will be responsible for driving forward AFS’ growth strategy whilst ensuring new and existing clients across the Middle East and Africa continue to receive best-in-class, innovative and market-leading digital payments and FinTech solutions from the region’s most trusted payments partner.

Welcoming him, Al Waary said: “The AFS Board of Directors is delighted to welcome Samer as the new AFS CEO. We are confident in his ability to lead AFS and take the company to new heights. Given his proven track record and expertise, partners and the industry will undoubtedly support AFS’ growth ambitions. We look forward to his pivotal role in implementing the Company’s transformational strategy and setting it firmly on the path to innovation, growth and sustainability for the future. I wish him every success in the role.”

On his party, Soliman said: “I am excited to join AFS and look forward to building on its longstanding reputation of empowering businesses and consumers by exploring, innovating, and investing in superior technologies that help shape the future of financial experiences. In today’s rapidly shifting financial services landscape, AFS is geared to take a leading stand in the transformation of payments experiences and services globally.

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