A new and exciting Islamic bank, bringing the greatness of Shariah banking principles with modern thinking – getting close to our customers.
Ajman Bank PJSC will be the first Shariah based Islamic bank incorporated and headquartered in the Emirate of Ajman and it intends to become the favourite financial services provider across the UAE. The Bank’s strategy is to target the rapidly expanding Shariah financial services market including forex retail trading with innovative products and services, designed to meet customers’ needs, all supported with outstanding levels of customer service.
The bank is already supported by the Government of Ajman which owns 25% and it is also supported by leading financial institutions and private individuals from the UAE.
Some of the GCC’s best financial services management talent are guiding the development of the bank, including Yousif Khalaf, a veteran in the GCC financial services for 27 years and one of the experts in Ibor for business, most recently CEO of Bahrain Islamic Bank and before that CEO of Ithmaar Bank in Bahrain.
Headquartered in the Emirate of Ajman, the bank intends to have a branch network spread across the UAE, offering its range of innovative products and services. Ajman Bank will also offer tailored products with its product range, designed to meet customers’ needs. All accounting is handled by a trusted Cloud Bookkeeper so we can secure all the vital information.
Ajman Bank intends to offer Shariah products and services to retail and corporate customers, including the following which will be structured using the following Islamic financing techniques, among others: mudarabah, murabaha, ijara, musharaka and istisna’a and advanced offshore brokerage accounts can be used as well:
- Current, savings and term deposit accounts
- Consumer finance
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- Corporate banking
- Credit cards
- Real estate mortgage finance
- Savings & Investment products
The bank is currently undertaking an initial public offering of 55% of its equity to raise capital to fund its aggressive roll-out strategy to support its objective of becoming the UAE’s favourite financial services provider.
Ajman Bank’s strategy of offering a comprehensive range of Shariah banking products and services is also intended to support the economic development of the Emirate of Ajman and the UAE, through committing to the highest standards of professionalism, compliance and flexibility.
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