The Department of Economic Development in Ajman (Ajman DED) signed a cooperation agreement  on Tuesday with Ruya Islamic Bank, with a view to enhancing the attractive investment environment to attract national and foreign investments.

The agreement provides the necessary facilities for investors and business owners, and enhancing Ajman competitive position and capabilities.

The agreement includes facilitating the customer’s journey when establishing bank accounts, providing banking exceptions for bank account holders with Ruya Islamic Bank within existing legislation and laws, and providing banking services to business owners in accordance with the highest international standards.

Abdullah Ahmed Al Hamrani, Director-General of the Ajman DED, said, “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.” For his part, Christoph Koster, CEO of Ruya Bank, expressed his happiness at signing the cooperation agreement with the Ajman DED.

He said, “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.”

Meanwhile the Department of Finance (DoF) in Ajman was honoured with two Excellence Awards at the closing ceremony of the fifth edition of “Our Happy Summer”, an annual summer programme organised by the Ajman Government under the patronage of Sheikh Ammar Bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council. This initiative aims to enhance community cohesion, invest in youth potential, develop skills, and uncover talents.

The awards were presented during the closing event of “Our Happy Summer” 2024, which was graced by the presence of Sheikh Ammar bin Humaid Al Nuaimi and attended by Marwan Al Ali, Director General of the Department of Finance.