Business

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Business
June 28, 2024

Ajman Bank has entered into a strategic partnership with Magnati, a leading payment solutions provider, to enhance the digital payment capabilities of its corporate and business banking clients. Through this collaboration, Ajman Bank will leverage Magnati’s merchant acquiring services to offer secure payment solutions for both online and in-store payments. With Magnati’s expertise in payment processing and Ajman Bank’s robust banking infrastructure, clients can look forward to a more streamlined and efficient payment experience. Mr. Mustafa Al Khalfawi, CEO of Ajman Bank, said,...

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Business
June 3, 2024

Dubai, June 3, 2024: Rasmala Investment Bank Limited (“Rasmala”), a leading alternative investment manager, announces that it has successfully advised Cove Resort Holdings Limited to acquire the Cove Rotana Resort in Ras Al Khaimah, UAE. Cove Resort Holdings Limited is an ADGM-based special purpose vehicle, wholly owned by Mr. Saqr Kamal Hasan. Orascom Development Holding, the seller, built this five-star beach resort consisting of 349 rooms in 2009. This top-tier resort is famous for its 600m-long private beach, upscale dining, and exquisite facilities. This...

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Business
May 17, 2024

Ajman Bank has been declared winner of the coveted Islamic Digital Banking Provider of the Year Award at the MEA Finance Banking Technology Summit & Awards 2024. The awards ceremony took place at the Ritz Carlton DIFC in Dubai and was attended by more than 300 senior executives and honored guests from across the region’s banking and financial technology sectors. Mr. Mustafa Al Khalfawi, CEO of Ajman Bank, said, “We are proud to receive the Islamic Digital Banking Provider of the Year award. This recognition...

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Banking, Business, General
May 9, 2024

Ajman Bank has reported an all time high quarterly profit in Q1 2024 of AED 107.4 million. This is on the back of a 7.0% increase in total operating income to AED 400.3 million as compared to AED 374.0 million in corresponding period of 2023, and net operating income of AED 194.8 million. Return on shareholder Equity (annualized) and Return on Asset (annualized) have doubled in Q1 2024 as compared to corresponding period of 2023 – respectively to 15.5% (up...

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Business, General
May 7, 2024

Dubai, UAE – Takaful Bazaar, a pioneering InsurTech startup based in the UAE, is excited to announce its participation in the prestigious Dubai International Financial Centre (DIFC) Fintech Summit 2024. As the world’s first provider of an embedded Takaful platform, Takaful Bazaar will demonstrate its groundbreaking solutions, initially launched as a successful proof of concept in Pakistan. Since its inception, Takaful Bazaar has committed to providing innovative and ethical financial products tailored for the Middle East, North Africa and Pakistan (MENAP)...

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Business
May 7, 2024

Apparel Group and myZoi Forge Partnership to Drive Financial Inclusion for Over 4,000 Underbanked Employees  Apparel Group Enhances Home Transfer Services through myZoi App Apparel Group to extend myZoi’s payroll, domestic payments, home transfer, and financial education offering to its employees. Together, myZoi and Apparel will advance the social elements of ESG. In a significant announcement made at the Dubai Fintech Summit, Apparel Group, a leading global fashion and lifestyle retail conglomerate, and myZoi, a pioneering fintech incubated at SC Ventures,...

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Business
May 1, 2024

§  The collaboration reinforces Dubai FinTech Summit and Finvasia’s shared commitment to strengthen the global financial ecosystem through innovation and knowledge exchange. The partnership sets the stage for the transformative 2nd edition of the Dubai FinTech Summit empowering the FinTech ecosystem with the tools, resources, and networks needed to innovate and grow.   Dubai, 1 May 2024: Finvasia, a global innovator leveraging engineering and technology, has joined the Dubai FinTech Summit (DFS), organised by Dubai International Financial Centre (DIFC), the leading global Financial Centre in the MEASA region, as a Lead Sponsor, underscoring...

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Banking, Business
April 29, 2024

Dyna.Ai’s participation at the Dubai FinTech Summit marks the company’s global debut. §  The collaboration reinforces Dubai FinTech Summit commitment to strengthen the global financial ecosystem through innovation and knowledge exchange. Dubai, 29 April 2024: Dyna.Ai, a leading artificial intelligence technology service company headquartered in Singapore, has joined theDubai FinTech Summit, organised by Dubai International Financial Centre (DIFC), the leading global Financial Centre in the MEASA region, as a Powered By sponsor. Dyna.Ai focuses on leveraging cutting-edge AI techniques to foster business digitalisation and ‘intelligentisation’. The company serves a wide range of institutions...

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Business
April 27, 2024

Dubai FinTech Summit to take place 6 - 7 May at Madinat Jumeirah. 2nd edition of the summit will bring together over 8,000 decision-makers, over 300 thought leaders across five stages and more than 200 exhibitors showcasing cutting-edge technologies. FinTech landscape is booming with over 800 FinTech start-ups worth USD 15.5bn. Dubai, 24 April 2024: For the second consecutive year, Dubai will remain in the spotlight as it hosts the second edition of Dubai FinTech Summit, under the patronage of...

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Business
April 2, 2024

Ajman Bank has announced the appointment of Mr. Kashif Raza as the new Group Head of Wholesale Banking. With a distinguished career spanning over 25 years in the banking industry, Mr. Raza brings a wealth of knowledge and experience to his new role at Ajman Bank. His expertise in corporate finance and investment banking within the Islamic banking sphere are well-acknowledged and respected across the industry. Welcoming Mr. Raza to the team, Mr. Mustafa Al Khalfawi, Group CEO of Ajman Bank,...

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