Sustainable Growth and Islamic Principles: The Ajman Bank Story

The Ajman Bank was established in consonance with the overall vision of the Emirate of Ajman in diversifying its economy and stimulation for sustainable growth. It was established in the year 2007, and with the launch, it was the first Islamic bank in the Emirate of Ajman. This bank would cater to the needs of individuals as well as corporations, all while strictly adhering to the principles as advocated by the various schools of thought of Islam. The bank started formal operations during the year 2009. It launched two branches in Ajman with a plan to immediately proliferate all over the UAE.

Ajman Bank, needless to say, were a success because they had a clear focused mission – responsible and value-driven financial services in line with Shari’ah principles. The government of Ajman has been supportive of the bank since the first day as it played its role as a central pillar within the emirate’s financial development. Today, with branches and ATMs all over the UAE, access is conveniently available to Ajman Bank across a broad customer base.

Ajman Bank is one institution that takes the issue of providing financial services in accordance with Shari’ah – or Islamic law. In theory, this basically refers to the determination to avoid riba, commonly called interest, so that all banking activities as well as investments make ethical sense under the Islamic principles. Its services include personal banking, corporate banking, investment banking, and treasury services. It has ensured the delivery of ethical, responsible, and customer-centric banking, winning the confidence of individuals, businesses as well as government entities. The advantages of Ajman Bank are placed on growth fostered through services that make contributions to the socio-economic development of the region. By offering customized Islamic banking solutions, Ajman Bank is playing an important role in helping the bank’s customers-these could be private or business customers-to prosper according to their values.

Profitability is not all what Ajman Bank has ambitions over. The bank strives to become a truly sustainable institution: that is to say, it focuses its attention on both community care and profit growth. These initiatives are rooted in corporate social responsibility (CSR) programs that enhance conditions for communities, the environment, and the economy. From economic development at the local level to environmental sustainability, Ajman Bank ensures active contributions toward a brighter future for the UAE. This extends into its internal culture, in which the bank nurtures an inclusive environment that supports the growth and development of employees, especially UAE nationals.

Ajman Bank has been a key proponent of Emiratisation, a strategy focused on increasing the number of UAE nationals in employment. Incorporation of the Emiratisation initiative has been there since its establishment with Ajman Bank ensuring that UAE nationals are considered first for positions and developmental opportunities. As part of commitment towards national talent, Ajman Bank has won the UAE Emiratisation Award from the Ministry of Human Resources and Emiratisation. In return, the bank will be contributing to the overall vision and transformation of the UAE by transforming it into a knowledge-based economy. The deployment and opportunities given to Emiratis in general will allow them to grow and excel within the bank. Emphasis on Emiratisation is also aligned with the long-term objective of enabling the growth of this country by developing the future generation of banking professionals.

Ajman Bank maintains its drive toward becoming a true sustainable, innovative, and customer-centric institution. Strong strategy and vision, dedicated staff, and latest banking solutions have now positioned Ajman Bank toward continuing to push economic progress in the UAE. Its commitment toward Shari’ah compliant practices, with pioneering efforts at Emiratization and concentration on sustainability mark it uniquely as one of the top Islamic banking institutions and a cornerstone of the UAE’s financial sector.

Ajman Bank continues to expand and invest in services with a commitment to building strong, long-term partnerships with its customers as well as contributing to growth and prosperity in the UAE.