Waafi SAS
At Waafi SAS, we want you to make the most of your time,
simplifying your daily needs with our groundbreaking All-In-One lifestyle e-wallet app.
Waafi is a global lifestyle e-wallet app, created with the idea to be more than a regular mobile
payment app, we designed it to become your daily companion, at the tip of your fingers with 24/7
support and access to our services such as; Mobile Money, Communication, Entertainment and
Payments.
Want to book a flight or pay your bills on the go? Making payments through the Waafi app is a few
clicks away – as easy as one, two, three!
We want you to be part of our growing community, join Waafi today.
Our Mission
Our mission at Waafi is to provide everybody a secure and reliable cashless mobile payment platform
with outstanding user experience that acts like a companion that simplifies your life.
Our Vision
To become the consumer’s first choice as a service that can withstand their daily online payment
needs – a true companion. To make the Waafi brand a household name, synonymous with reliability,
efficiency and security
Our Values
From the very start, we shaped our organization around the same values and culture Waafi was
founded on. We believe, creating an environment for openness and cooperation for our employees
within the company leads to more innovation and growth which in turn produces a better service for
our customers
Corporate Governance
WAAFI recognizes that good corporate governance is essential to achieving and maintaining the confidence and trust of its
stakeholders
The Board and Senior Management of WAAFI are responsible and have obligations to all our stakeholders, including shareholders,
regulators, clients and suppliers, as well as to the environment and the communities where we operate
Senior Management is responsible for overseeing the day-to-day management of WAAFI
Compliance with all applicable legislation, regulations and standards is an essential characteristic of WAAFI’s culture. The Board
monitors compliance with these by means of management reports.
The Board sets our strategic direction, approve policies, the internal control framework and the overall business strategy of
WAAFI, and ensure implementation and monitoring compliance to achieve our strategic aspirations
The Boards oversee the establishment of independent and adequately resourced Audit and Risk & Compliance functions
BOD Committees
WAAFI has the following committee:
- Audit Committee
- Risk & Compliance Committee
- Digital and Information Technology Committee
The committees support the Board in discharge of its functions
All members of the Committee are independent non-executive Directors
The Digital and Information Technology Committee, Audit Committee, Risk & Compliance Committee coordinate their activities and
work together regularly to ensure the necessary exchange of information to capture and assess all relevant risks for the
performance of their tasks
Audit Committee
Chief: Osman ijaz
The Audit Committee assists the Board in its oversight of management’s responsibilities to assure that there is an effective
system of controls reasonably designed to safeguard the assets and income of the company, assure the integrity of WAAFI’s
financial statements
The Audit Committee is responsible for overseeing the internal audit function
The Audit Committee monitor and review the effectiveness of WAAFI’s AML Compliance function
Risk & Compliance Committee
The Audit Committee assists the Board in its oversight of the effectiveness of WAAFI’s risk Management framework and reviewing
compliance with policies and procedures, all applicable legislation, regulations and standards
Compliance officer: Mahdi Ogas
All members of the Committee are independent non-executive Directors
The Committee’s key responsibilities include:
- Approval of risk policy and strategy
- Approve the annual Compliance Monitoring Plan and Compliance Policy & Procedures
- Review WAAFI’s risk profile against its risk appetite and strategy
- Review the Risk Registers
- Advise the Board on the current risk exposures and future risk strategy
Digital and Information Technology Committee
Chief: Ahmed Ali Hussein
The Committee supports the Board in fulfilling its oversight responsibilities relating to WAAFI’s digital and Information
technology environment. It assists the Board in its oversight of the end-to-end digital delivery of the WAAFI’s products and
services
The Committee’s key responsibilities include:
- Approve and Review Digital and Information Technology policies and strategies
- Assists the Board in its oversight of IT strategy and policy
- Overseeing the overall Information and Cyber Security strategies
- Overseeing the effectiveness of WAAFI’s Business Continuity and IT Disaster Recovery Plans and Business Continuity
- Identifying and monitoring key risks arising from technology and digital areas and referring them to the Board Risk &
Compliance Committee
- Overseeing strategies for WAAFI’s outsourcing and selection of third party and external technology suppliers and review
the performance of and risks associated with them
