Authorities had sealed off the capital and blocked cellphone services to prevent former prime minister Khan's supporters from gathering
The lender said this decision has been taken upon the instructions of Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank.
"Despite the challenges, there will be no reduction of workforce at Ajman Bank in 2020. We have an obligation to make responsible decisions and are committed to manage the economic effects of Covid-19 in a clear and compassionate way creating value for our clients and avoiding addition of emotional distress," CEO Mohamed Amiri said.
The Shariah-compliant bank said this decision has been taken as part of its corporate social responsibility initiative and to strengthen the UAE's position as a stable and attractive destination for investment.
In line with initiatives taken by other UAE banks, it also announced incentives and sops to its individual and SME customers to overcome Covid-19 shocks.
Ajman Bank's third-quarter 2019 net profit fell to Dh22.2 million compared to Dh40.8 million for the same period last year.
The first nine months of 2019 saw profits slipping from Dh119.8 million to Dh110.1 million.
According to the bank's interim financial results, the bank's staff costs in the third quarter of 2019 fell to Dh43.86 million as compared to Dh49.7 million in the third quarter of 2018. But nine-month staff costs increased from Dh149.2 million in 2018 to Dh154.7 million last year.
- waheedabbas@khaleejtimes.com
Authorities had sealed off the capital and blocked cellphone services to prevent former prime minister Khan's supporters from gathering
The strike is part of a highly concerning pattern of unlawful use of force by ISF during military-like operations in the West Bank, the UN rights office said in a statement
Subrahmanyam Jaishankar will be the first Indian foreign minister to visit Pakistan in nearly a decade
The dynamic event will take place at De Montfort University, Dubai, on October
The Forex Expo is a strategic platform for Naqdi to connect with industry leaders, traders of all levels, partners from both IB and Institutional domains and investors
This time, registrants will be able to win a chance to bring two guests to Dubai with Emirates flights and hotel accommodation
More than 10,000 people have died in a decades-long insurgency waged by the Naxalite movement in India's resource-rich tribal heartlands
President Emmanuel Macron should have appointed a prime minister from their ranks, said the left-wing lawmakers