Ajman Bank Named Best New Islamic Bank in Islamic Finance News Awards (23 January 2010)
Ajman Bank, the Emirate’s first Islamic commercial bank, has been awarded Best New Islamic Bank for 2009 by readers of Islamic Finance News (IFN).
Ajman Bank, the Emirate’s first Islamic commercial bank, has been awarded Best New Islamic Bank for 2009 by readers of Islamic Finance News (IFN). Held annually, Ajman Bank beat the competition in the fifth Islamic Finance News Awards which collated votes from over 2,500 readers during a month-long poll. Announced this month, this achievement comes as the new bank nears the end of a successful first year in operation.
The bank was assessed on a number of different operational divisions other than its overall performance as a bank. These included retail banking, with the acknowledgment of Ajman Bank launching a wide range of assets and liability products at the most competitive rates offered in the market and its success in winning the most creative design award by VISA for Ajman Bank’s credit cards.
Investment banking and Corporate banking achievements were also taken into consideration as 2009 witnessed Ajman Bank financing reputable names in the UAE market such as Al Ghurair Group, and Bu Khater. In addition the bank has been recognised for building strong relationships with semi-governmental and government-owned companies such as Ajman Free Zone, and Sharjah Safe Zone.
Commenting on the accolade, Ali E. Alshaqoosh Al Mueen, Deputy CEO for Ajman Bank said, “I know that I speak for the whole team at Ajman Bank in saying that we are very proud to accept this award as Best New Islamic Bank. Developing a strong and stable operation in and outside Ajman was a key objective for us throughout 2009, an objective I am pleased to say we achieved.
To now be acknowledged for this achievement by industry peers goes to highlight the continued effort and commitment shown by the Bank’s teams and its leadership. This is a great start to 2010, the year we hope to see Ajman Bank reach even greater heights.”
The award follows a highly successful year for the bank with the opening of three new branches in Ajman, Sharjah and Abu Dhabi, with the Dubai branch set to open this quarter. The Bank has also seen through some large financing deals such as Emirates Transport, as well as service innovations from auto financing offers, protection plans and an extensive range of e-service options.
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