Ahli United Bank introduces new features to improve merchant profitability from Point of Sale Terminals

Press release

Published May 20th, 2013 - 11:55 GMT

Ahli United Bank

Ahli United Bank is rapidly expanding Point of Sale (POS) Acquiring in Bahrain with state of the art systems and terminals and innovative features to meet the growing needs and expectations of retail chains, hospitality, travel, telecom, utility services, commercial establishments and other sectors.

Speaking at the launch of new POS features, Abdulla Al Raeesi, Deputy Group CEO – Retail Banking, Ahli United Bank, said: “AUB’s POS solution is engineered to the highest global standards and offers improved features and efficiency in operations. The Bank will soon be launching its Dynamic Currency Converter (DCC) which will enable merchants to earn foreign exchange income on overseas card transactions in Bahrain. This feature is ideal for hotels, travel, tourism and high end fashion chains where use of international credit and debit cards are significant. New features already launched such as the multi-lane solution for hypermarkets and the fully integrated 3C solution for the hotel sector have received a very encouraging response”.

Ahli United Bank provides clients with state of the art GPRS terminals which offer faster response times and are convenient for use in restaurants and other outlets with high traffic flows for improved turnaround time and efficiency. AUB is the only Bank in Bahrain which currently offers Sharia-compliant banking services to its POS clients, where required.

“These many unique features have been enabled through a strategic tie up with Network International which holds a commanding position in the merchant acquiring space in the United Arab Emirates, a result of their superior technology, committed service delivery and improved turnaround times, all of which are critical requirements for a robust and growth-oriented Point of Sale service”, added Mr. Al Raeesi.

The AUB Point of Sale platform is supported by dedicated sales and support management teams, a 24 x 7 help desk and systems to provide real time fraud monitoring and control, enabling Ahli United Bank to meet its objectives of providing enhanced merchant solutions in Bahrain at the best possible service standards.

Background Information

Ahli United Bank

Ahli United Bank BSC (AUB) is a full fledged commercial and investment banking group providing wealth management, retail, corporate, treasury, offshore and private banking services.

The Group's businesses consist of the operations in Bahrain, a wholly owned subsidiary in the UK and associates in Kuwait, Qatar, Oman, Egypt and Iraq. In Kuwait, AUB has an effective holding of 75% in the Bank of Kuwait and The Middle East while in Qatar, AUB has a 40% stake in Ahli Bank QSC. In Oman, AUB has a 35% stake in Ahli Bank SAOG while in Iraq AUB has a 49% stake in the Commercial Bank of Iraq. In Egypt, AUB, its associate banks and other Gulf financial institutions together hold an 89.3% stake in Ahli United Bank SAE. Apart from these banks, AUB has a nominal stake of 75% in KMEFIC, a brokerage, asset management and corporate finance company based in Kuwait with operations around the Arabian Gulf.

Overall, the AUB Group, through its subsidiaries and associates, operates through a network of 93 branch offices and employs over 3,000 people.

AUB’s stated mission is to create an unrivalled ability to meet customer needs, provide fulfillment and development for staff and to deliver outstanding shareholder value. AUB’s strategy is to expand through both organic growth and acquisition in order to act as a ‘multifaceted financial bridge’ between the international financial markets and its Gulf clients. It has sought to establish an operating presence in each of the Pan-GCC countries with a targeted 10% - 20% market share. To this end, AUB continues to develop and invest to increase its ability to acquire new businesses and rapidly integrate them with the bank’s systems. This development has helped accelerate progress in the delivery of financial services and penetration into targeted geographical markets.