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Ajman Free Zone Strikes Deal with Ajman Bank

DUBAI — Ajman Free Zone Authority has signed a memorandum of understanding with Ajman Bank, the emirate’s first Islamic commercial bank.

The agreement, outlining co-operation and the exchange of services and investment opportunities, aims to attract other companies to Ajman, boosting investment activities, supporting the local economy, and strengthening the emirate’s position as an international business centre, a Press statement said.

The signing ceremony for the agreement took place at the free zone headquarters in Ajman between Shaikh Mohammed bin Abdullah Al Nuaimi, Director-general of the Ajman Department of Ports and Customs, Ajman Free Zone Authority and Ali Essa AlShaqoosh Al Muen, the recently appointed acting CEO of Ajman Bank.

The terms of the agreement will ensure a full review of services being provided to employees of the freezone by the bank in addition to the allocation of a place to install an Ajman Bank ATM machine.

Establishing clear channels for the exchange 
of experience and knowledge, the MoU is set to deepen the two Ajman-based organisations’ common interests, benefiting the emirate in terms of trade, investment and improving the current business climate.

· business@khaleejtimes.com