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Ajman Islamic Bank (Ajman Bank)
Ajman Bank is an Islamic (Sharia compliant) bank based in Ajman, an emirate of the UAE. Originally Ajman Bank called themselves Ajman Islamic Bank but then dropped the Islamic association from their name although they are still an Islamic bank. Other banks in the UAE that are not obviously Islamic banks from the name include Dubai Bank (different from Dubai Islamic Bank), Hilal Bank, and Noor Bank. The Ajman Bank is publicly owned, and shares are listed on the the Dubai stock market.
List of Ajman Bank branches
Unless otherwise stated, bank branches are open Saturdays to Thursdays, and closed on Fridays and public holidays.
- Total number of branches is 11 in the UAE as of 11 Nov 2013.
| Branch Location | Emirate | Telephone | Manager | Hours | Open | Notes |
|---|---|---|---|---|---|---|
| Khalidiya | Abu Dhabi | 2010 | ||||
| Makeen Tower, near Al Salam St | Abu Dhabi | 13 Oct 2009 | ||||
| Mussafah / Musafah | Abu Dhabi | |||||
| A&F Tower, Al Khalifa St | Ajman | +971-6-7479999 | ||||
| Ajman Free Zone, Al Butain | Ajman | +971-6-7018511 | ||||
| Al Manama / Manamah | Ajman | 18 Jan 2011 | ATM only | |||
| China Mall Ajman | Ajman | 03 Jun 2012 | ||||
| Al Ain Mall | Al Ain | 13 Dec 2011 | ||||
| Salahuddin Rd, Deira | Dubai | 2010 | ||||
| Buhaira Corniche, Al Majaz 3 | Sharjah | +971-6-7018567 | 09 Jun 2009 | |||
| Industrial Area 3 | Sharjah | 2010 | Pay Office |
- 3 new Ajman Bank branches opened during 2010, in Khalidiya Abu Dhabi, Sharjah Industrial Area, Deira Dubai. Contact details, opening dates, locations not supplied (09 October 2010 press release).
List of Ajman Bank ATM locations
- Abu Dhabi - Al Raha Mall, Al Wahda Mall, Armed Forces Co-op in Officers City, Khalidiyah Branch, Khalidiya Mall, Madinat Zayed Shopping Centre, Mazyad Mall, Mussaffah Industrial Area, TCA Branch in Makeen Tower opposite Abu Dhabi Mall.
- Ajman - A&F Tower Khalifa Street, Ajman Corniche, Ajman Free Zone, Ajman Market & Cooperative Society, Ajman Municipality HQ, Ajman Municipality Al Hamidiyah Branch, Ajman Traffic Department, Al Manama Food Stuff in Manamah, Al Manama Hypermarket on Khalifa Street, China Mall in Al Jurf, Emarat Al Fahad Petrol Station on Khalifa St, Emarat petrol station opposite Ajman City Center Mall, Lulu Center, Ramada Hotel, Safeer Mall Khalifa St.
- Dubai - Al Quoz - Grand City Mall, Emirates Hills - ENOC Greens petrol station, Etihad Mall (Ittihad Mall), Grand Shopping Mall, Jebel Ali Industrial Area Grand Mini Mart, Khalid Bin Waleed metro station (Dubai Metro), Mirdif City Centre, Salahuddin Branch, Shindagha Carrefour opposite Al Ghubaiba bus station, Union Square metro station.
- Sharjah - Ansar Mall, Buhaira Branch, Rolla Square - UAE Exchange, Safeer Mall Al Wahda St, Sahara Center, Sharjah Industrial Area 3, Sharjah International Airport
Ajman Bank head office and contact details
- Ajman Bank, PO Box 7770, Ajman, UAE
- 13th floor, Block C, Al Mina Road, Ajman Free Zone
- Tel +971-6-7479999 (0800-1600 Sunday to Thursday)
- Fax +971-6-7479990
- Toll-free in the UAE 800-AB (800-22) available 24/7
- Email info@ajmanbank.ae
- Main branch opening date 21 December 2008. First account holder Sheikh Humaid Bin Rashid Al Nuami, the Ruler of Ajman. Official opening ceremony held 02 February 2009.
Ajman Bank Al Rifah Branch
- Location is Sheikh Khalifa Bin Zayed Street, in Al Rifaah area of Ajman
- PO Box 7770, Ajman, UAE
- Telephone +971-6-747 9999, fax +971-6-7467707
Ajman Free Zone Branch
- Block C1, Ground Floor, Ajman Free Zone
- PO Box 7770, Ajman, UAE
- Tel +971-6-7018511, fax +971-6-7479197
Abu Dhabi Branch of Ajman Bank
- Location is Makeen Tower, near Abu Dhabi Mall
- Official opening October 2009 (13 October 2009 press release)
Deira Dubai Branch of Ajman Bank
- Location on Salahuddin Road, near Fish Roundabout (Claridge Hotel side)
Sharjah Branch of Ajman Bank
- Sharjah Branch of Ajman Bank officially opened July 2009 (15 July 2009 press release).
- Location is on the Buhaira Corniche, near Al Safiyah / Al Safiya Park.
- Contact details PO Box 80088 Sharjah, tel +971-6-7018567, fax +971-6-7018298
Al Safwa Islamic Financial Services
- Press release 07 October 2009 announced that Ajman Bank customers can buy and sell UAE stocks through the AlSafwa Islamic Financial Services brokerage.
- Al Safwa broker kiosk at Ajman Khalifa Branch established, and coming soon at Abu Dhabi, Dubai, and Sharjah branches of Ajman Bank.
Salama Islamic Arab Insurance Company
- Press release 06 October 2009 announced that Salama Insurance would offer Takaful insurance (Sharia compliant) to Ajman Bank customers.
Ajman Free Zone expansion financing
- Ajman Bank will provide AED 54 million worth of Ijarah Islamic finance to Ajman Free Zone Authority (AFZA) to fund completion of stage III of the Al Jarf Industrial Hub in Ajman Free Zone (press release 05 July 2009).
Other Ajman Bank agreements
- Ajman Bank credit card payments at UAE Exchange (26 branches) and Al Fardan Exchange Company (77 branches) in the UAE (press release 20 October 2009). Ajman Bank customers also have "the option of paying the monthly installments on personal and cars murabaha at all UAE Exchange outlets."
Ajman Bank Management and Board
- Ajman Bank Chairman is Sheikh Ammar bin Humaid Al Nuaimi (Crown Prince of Ajman).
- Ajman Bank CEO
- 11 Nov 2013 (PR) - new Ajman Bank CEO announced as Mr Mohamed Amiri. He was at Ajman Bank from October 2010 to April 2013, first as Deputy CEO, then promoted to Acting CEO.
- 08 Jan 2010 (PR) - new Ajman Bank CEO announced as Mubasher Hanif Khokhar. He was previously CEO of Badr Al Islami, a subsidiary of MashreqBank. Acting CEO Mr Mueen went back to Deputy CEO position which he held previously.
- 13 Oct 2009 - Acting CEO announced as Ali Essa Al Shaqoosh Al Mueen. Previous Ajman Bank CEO was Yousif Khalaf (2008-2009?).
- Head of Retail Banking is Maruf Ahmed (2008-?)
- Head of Strategic Corporate Affairs is Said Wafai (2008-?)
Ajman Islamic Bank financial reports and performance
| Year | Net Profit | Change | Revenue | Change | Total Assets | Change |
|---|---|---|---|---|---|---|
| 2010 | 4 million | 144m | +84% | 3.2 billion | +68% | |
| 2009 | 1.1 million | 78m | 1.9 billion |
- All figures in UAE dirhams (AED).
- 2009 and 2010 figures from press release 03 February 2010 for years ending 31 December 2009 and 2010 respectively.
- 2009 figures represent more than 12 months as they include operations during 2008.
Ajman Bank history and timeline
| Date | Event | Source |
|---|---|---|
| 13 October 2009 | Abu Dhabi branch official opening date | press release |
| 07 October 2009 | Al Safwa brokerage agreement | press release |
| 06 October 2009 | Takaful insurance agreement with Salama | press release |
| 15 July 2009 | Sharjah branch official opening | press release |
| 12 June 2009 | Strategic alliance formed with Ajman Chamber of Commerce and Industry | press release |
| 09 June 2009 | Sharjah branch opens | press release |
| 27 May 2009 | Murabaha finance agreement for Emirates Transport worth AED 30m for 100 buses | press release |
| 25 May 2009 | Contracts Network International to manage Ajman Bank ATMs and POS machines | press release |
| 02 February 2009 | Official opening of Ajman Bank | press release |
| 21 December 2008 | First Ajman Bank branch opens in Ajman | press release |
| 22 June 2008 | Ajman Bank shares list on the Dubai Financial Market | press release |
| 11 February 2008 | Ajman Bank IPO (AED 550m) announced, held from 17-27 February 2008 | press release |
Last update Friday 06-Dec-2013
Related pages
- Banks in Dubai - a list of foreign and UAE banks
- Islamic banks in UAE - list of UAE Islamic banks
Related websites (new window)
- www.ajmanbank.ae - Ajman Bank website. Domain www.ajmanbank.com is for sale ($12,000), www.ajmanbank.net is spam (was originally the Ajman Bank website), www.ajmanbank.org is also spam.
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