Ajman Economic Department Partners With Ruya Bank To Attract More Investments

The Department of Economic Development in Ajman (Ajman DED) has entered into a cooperation agreement with Ruya Islamic Bank. This partnership aims to enhance the investment environment, making it more attractive for both national and foreign investors. The agreement focuses on providing essential facilities for investors and business owners, thereby boosting Ajman's competitive edge.

The agreement includes measures to simplify the process of establishing bank accounts for customers. It also offers banking exceptions for account holders with Ruya Islamic Bank within the framework of existing laws and regulations. Additionally, it ensures that business owners receive banking services that adhere to the highest international standards.

Abdullah Ahmed Al Hamrani, Director-General of Ajman DED, highlighted the significance of this partnership. He stated, "Our new partnership with Ruya Bank represents an important strategic step towards achieving our goals of providing the necessary facilities to investors and facilitating their journey in opening bank accounts. This reflects our commitment to providing integrated and distinguished services to investors, which contributes to supporting business growth and achieving sustainable economic development in Ajman. We are confident that this partnership will open new horizons for cooperation between the government and banking sectors, and will contribute to attracting more investments and strengthening the emirate’s position as a leading economic and investment hub."

Christoph Koster, CEO of Ruya Bank, expressed his satisfaction with the agreement. He remarked, "We are pleased with our cooperation with the Department, as this agreement is an important step in strengthening relations between the banking and government sectors to support the investment environment in the emirate of Ajman, as we aspire to provide distinguished banking facilities to project owners, which contributes to supporting the growth of their businesses and attracting more investments, and we are committed to providing integrated and distinguished banking services that meet the needs of investors."

This collaboration is expected to significantly benefit investors by streamlining their interactions with banks. By offering tailored banking solutions within legal frameworks, it aims to make Ajman a more appealing destination for investments.

The focus on high international standards ensures that business owners receive top-notch services. This initiative aligns with Ajman's broader strategy of fostering a supportive environment for economic growth.

This agreement marks a pivotal move towards enhancing cooperation between governmental bodies and financial institutions. It underscores a shared commitment to creating a robust investment climate in Ajman.

By simplifying banking processes and offering exceptional services, this partnership is set to attract more investments. It will also contribute significantly to Ajman's reputation as a prime location for economic activities.

The collaboration between Ajman DED and Ruya Islamic Bank is poised to open new avenues for mutual growth. It highlights both entities' dedication to supporting business expansion through improved financial services.

With inputs from WAM