Basic information of the bank
type and background: Ajman Bank is a listed Islamic bank founded in 2007 and headquartered in the Emirate of Ajman, United Arab Emirates.
Shareholder structure: The bank is listed on the Dubai financial market, with the Ajman government holding a 25% stake, demonstrating its close ties with the government.
Scope of Services: Mainly serving the local market in the UAE, with multiple branches and ATM networks, covering a wide range.
Financial health
capital adequacy ratio: As of 2024, Ajman Bank has a capital adequacy ratio of 19.1% and a tier 1 capital ratio of 18.0%, both above regulatory requirements. Shows a strong capital base.
Non-performing loan ratio: The non-performing loan ratio decreased from 7.5% in the first half of 2023 to 4.7% in 2024, reflecting a significant improvement in asset quality.
Liquidity Coverage Ratio: The loan-to-deposit ratio improved from 98% to 85%, indicating a good liquidity position.
Regulation & Compliance: Ajman Bank is regulated by the Central Bank of UAE, ensuring that its operations comply with Islamic finance principles and national regulations. The bank has an internal Sharia Oversight Committee (ISSC) that reviews products and services for compliance, and recently partnered with AAOIFI (Accounting and Auditing Organization) to enhance the Sharia standard training for employees, demonstrating the high priority it places on compliance. Regarding deposit insurance, the UAE has not yet mandated a comprehensive deposit insurance scheme, and Ajman Bank has not publicly mentioned whether it participates in a similar mechanism. With a good recent compliance track record with no major violations or fines, the partnership with the Ajman government and financial institutions in 2024 further strengthens its compliance profile. Narrow pass.
Deposit & Loan Products
deposit products:
current savings account : 0.20% p.a.
Time Deposit: The interest rate ranges from 0.84% per month to 1.28% per year depending on the tenor.
Featured Products: Wakala Fixed Deposit with a minimum deposit of AED 10,000 and flexible tenor and profit distribution options.
Loans:
Personal loans: with interest rates between 6.50% and 25.00% per annum, flexible repayment terms and no payroll transfer options.
Car loans: The annual interest rate for new car loans is 2.74% to 4.00%, and for used cars is 3.75% to 5.75%.
Mortgages: Fixed interest rates of 3.49% to 6.49% for the first year, then variable based on EIBOR plus 1.49% to 3.75%.
List of common fees
Account Management Fee: Depending on the account type, monthly fees range from AED 350 to AED 1,000.
Transfer fee: AED 10 per domestic transfer, cross-border transfer fee varies depending on the amount and destination.
ATM interbank withdrawal fee: AED 10 per transaction.
Other fees: including overdraft fees, fees for failing to meet the minimum balance, etc., please refer to the bank's official website for details of the fee structure.
Digital Service Experience
Mobile App & Online Banking: The Ajman Bank Connect app has a 4.8/5 rating on the App Store and offers features such as facial recognition, real-time transfers, and bill management.
Technological innovation: Introducing AI customer service, robo-advisors, and open banking APIs to improve user experience.
Customer Service Quality
Service Channels: 24/7 phone support, live chat, and social media responses are available to ensure customers get help at all times.
Complaint Handling: Commitment to acknowledge complaints within 24 hours and resolve them within 5 working days.
Multi-language support: Arabic and English are available to meet the needs of diverse customers.
Security Measures
Security of funds: Join the UAE Central Bank's deposit insurance scheme to protect your clients' funds.
Data Security: ISO 27001 certification, advanced encryption and real-time transaction monitoring are implemented to ensure customer data security.
Featured Services and Differentiated
market segment services: Provide student accounts, exclusive wealth management products for the elderly and green financial products to meet the needs of different customer groups.
High Net Worth Client Services: Provide private banking services, including customized financial solutions and dedicated relationship managers.
Market Position & Accolades
Industry ranking: Outstanding performance in the UAE banking sector with steady growth in asset size.
Awards: Awarded 'Best Islamic Digital Banking Provider' at the MEA Finance Banking Technology Awards 2025 for its achievements in digital transformation.
