MEA August 2017

14 MEA MARKETS / August 2017 , with the principles of Islamic jurisprudence. The FSSB is responsible to the General Assembly and submits an annual report for their consideration. “Ajman Bank Fatwa and our Sharia Supervisory Board members are highly reputed Sharia Scholars with intensive experience in Fiqh-al-Muamelaat, Law, economics, banking and financial systems.” Consumer banking Ajman Bank aims to be UAE’s favourite retail bank, with a range of superior & innovative product range and services for our customers. In their Consumer Banking group, they will realise the bank’s vision through: • Fulfilling the widespread needs of all variety of their customer segments; • Providing a warm, exciting and satisfying banking experience; • Offering innovative solutions which respond to the financial needs of their customers; • A comprehensive and effective reach and delivery of their products & services; • Availing loyal, well informed, and responsive staff and; • Maintaining the highest levels of service excellence and integrity. Ajman Bank will a have branch network throughout all the key emirates, with an extensive network of ATM’s close to you. Mohamed then reveals more about consumer banking and outlines what their current accounts offer. “All our services are directly integrated with Ajman Bank’s complete range of electronic solutions such as internet banking, SMS banking and phone banking that are designed to meet your every necessity. “In terms of our current accounts, they are designed to deliver optimum service quality that serves your business and personal transaction account needs. We offer a range of services that can be personalised to suit your specific need. This value pack accounts come to you with following convenient features: It is fully Shariah compliant; a free MasterCard Platinum debit card with chip security; the first cheque book is free; free monthly statements (an e-statement option is available); online & SMS Banking and free Utility bill payment) FEWA, DEWA, SEWA, ADDC, AADC, Etisalat, du, Salik Recharge). “Our current account is offered in UAE Dirhams, US Dollar, Pound Sterling and Euro. Besides individuals, a current account can also be operated by companies and businesses.” Savings accounts Ajman Bank believes in encouraging all their customers to start savings and a Shariah- compliant savings account. Mohamed tells us more about this and their Mudaraba product. “This gives you peace of mind as it is specially designed for you to save more to get more to get more return for a secured tomorrow. Profits are calculated on the lowest balance maintained in the account each month and shared per a pre-determined ratio, between you and the bank. “The key features of the facility are: It is fully Shariah compliant; monthly profit rate & quarterly distribution; free quarterly statements – e-statement option is available; online & SMS banking and free utility bill payment. “Our Shariah compliant term deposit, is specially designed to get you more returns. The longer the tenure, the higher your returns would be. Profits are generated and distributed from the common Mudaraba pool, which is a joint investment pool between depositors and shareholders.” The major features of the term deposit are: • Quarterly profit distribution; • Flexible deposit tenure periods from three months to 12 months; • Available in AED and USD; • Option to renew deposits automatically; • Minimum balance requirements of AED 10,000; • Available to individuals, joint accounts and can also be opened for minors; • Available for businesses including sole proprietorships, partnerships as well as joint stock and limited liability organisations and; • Financing against deposits for short term liquidity requirements. Mahra ladies banking The bank offers an exclusive banking service, specially designed for women Mohamed reveals. He goes on to develop this aspect of the bank’s work. “Because we believe that women deserve to be differentiated, Ajman Bank is providing its ladies customers’ with a ‘Mahra’ Ladies Banking Service, a unique banking facility with a wide range of banking products and services catered to serve their financial needs. “With Mahra by your side, you can rest assured that trustworthy financial advice and solutions are just a phone call away. Whether it is the management of monthly household expenditure; your child’s school fee payment; choosing the right investment or insurance plan; or that designer hand bag you can’t stop thinking about, we will do the worrying while you enjoy the features of the product. “The features of this product are: A comprehensive product palette; current and savings accounts, payroll accounts and terms deposit; it is fully Shariah compliant; a debit card with a trendy Mahra design and the latest chip technology for added security; the first cheque book is free; free monthly / quarterly statement; online and SMS banking and a free online utility bill payment. “Our professional and customer friendly female customer services officers, will personally manage your accounts and will attend to your banking needs, in the comfort and privacy of our chic ‘ladies only’ branches in Ajman and Abu Dhabi. However, these accounts can be opened and will be serviced in all Ajman Bank branches across the U.A.E. Upon request, our customer service officers can also arrange to meet you at a time and place of your convenience. The Mahra benefits are as follows • Ladies health & fitness - Sharjah Ladies Club; • Unlimited access to fitness centre and; • Up to 15% discount in café & restaurants. Consumer online banking Bringing the interview to a close, Mohamed underlines that Ajman Bank has firmly set its eyes on playing a leading role, in the transformation of the UAE and the emirate of Ajman, into a regional economic power. “In our pursuit to achieve this goal, our corporate banking group has formulated a strategy based on customer focus, product innovation and use of modern technology to integrate customers with bank’s operations. “We fully understand the complexity of businesses embedded in changing environments and have tailored our products, to meet the demands and challenges of the corporate sector. The main thrust of our strategy is on large corporates defined as companies with a minimum turnover of AED 300 Mio, to cater their short-term trade finance and working capital financing needs.”