Ajman Bank board meets to discuss success strategies in current global climate

Ajman Bank, which promised to launch its first branch in Q4 2008, remains on track to welcome its first retail customers later this year.

Responding to the issues in the wider financial world, risk management strategies featured on the meeting agenda ensuring the Bank's long-term success and commitment to its shareholders and investors. Given its location in Ajman and its recent entrance to the industry, Ajman Bank is in a stronger position to assess the current financial situation, leverage learnings made by key players in the industry to develop favourable strategies to combat any potential threats.

Focusing also on the Bank's growth plans highlighted during initial IPO communications, the Board discussed the initial plans for the roll-out of its diversified branch and channel network across the UAE. With the flagship branch underway and on target, a stable foundation will be laid for delivery of a fully-integrated range of Islamic banking products and services supporting all market segments across the country over the next three years.

In-line with their commitment to customer service excellence, human resources strategies and employee benefits were major areas of focus for the board, with a view to encouraging a performance-driven workforce that brings back the human touch which has been overlooked in modern banking today.

Commenting on the meeting, Ajman Bank CEO Yousif Khalaf said;

"While the wider industry may be heading for challenging times, building on our recent learnings and insights, Ajman Bank is in a better position today to develop strategies to ensure our original plans stay on track, following the huge success of our IPO earlier this year. In light of our unique position, we have the opportunity to positively respond to the risks in the current climate protecting our shareholders and investors as we grow. The coming months and years will be exciting times for us and Ajman as we see our plans come to fruition."