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: Free Zones in the UAE |
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Ajman Free Zone
Authority
[AFZA] |
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Ajman Free Zone Authority strikes new
agreement with Ajman Bank
Sheikh Mohammed Bin Abdullah Al Nuaimi: Partnership
with local sectors reinforces investment promotion
opportunities...
Ajman Free Zone Authority signed a memorandum of
understanding (MOU) 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. Establishing clear channels for the exchange
of experience and knowledge, the MOU is set to
deepen the two Ajman-based organizations' common
interests, benefiting the emirate in terms of trade,
investment and improving the current business
climate.
The signing ceremony for the landmark agreement took
place at the free zone headquarters in Ajman between
His Excellency Sheikh Mohammed Bin Abdullah Al
Nuaimi, Director General of the Ajman Department of
Ports and Customs, Ajman Free Zone Authority and Ali
Essa Al Shaqoosh 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.
Sheikh Mohammad Bin Abdullah Al Nuaimi, Director
General of Ajman Port and Customs and Free Zone
Authority, has confirmed that the joint economic and
development efforts resulted from a dire need to
enhance performance of Ajman's business sector,
indicating to the good outcome achieved by a large
number of economic service sectors targeting
investors, businessmen and individuals, and
involving medium and large industries.
Sheikh Al Nuaimi explained that the Ajman Free Zone
Authority (AFZA), by signing this agreement will be
offering new financial services facilities for its
customers. The AFZA confirms that it will make
continuous efforts to offer its investors and
clients the best services possible in respect of
transactions and financial facilities. In
particular the AFZA is going ahead with implementing
its policy for flexible transactions and procedures.
The AFZA furthermore, offers the best service for
investors, according to the directives of His
Highness Sheikh Humaid Bin Rashid Al Nuaimi, Member
of the Supreme Council, and Ajman Ruler, and Sheikh
Ammar Bin Humaid Al Nuaimi, Crown Prince of Ajman
and Chairman of Ajman Bank to focus on the economic
development and adopt the policies that place the
UAE in line with the advanced countries.
Sheikh Al Nuaimi said that the agreement aims at
promoting different investment opportunities in the
AFZA. It also shed light on the big role the AFZA
plays to provide suitable environment for
commercial, industrial and service investments, and
reinforces principles of economic partnership with
local sectors, which support service closely related
to public.
Sheikh Al Nuaimi indicated that the AFZA enjoys an
advanced infrastructure that provides the ideal
atmosphere for the companies operating in the
Emirate, as well as offering integrated services for
companies enabling easy access to international
markets.
He indicated that the AFZA is always seeking to
create opportunities and programmes to attract as
much capital and investors as possible into the free
zone, noting that the zone will witness increasing
growth, and lure more commercial and services
companies in the upcoming period as soon as the
marketing and development plan to attract investment
is implemented.
The signing of this joint agreement, which is
considered part of the emirate efforts to establish
strategic partnerships within the effective and
successful economic sectors, indicating that the
agreement is authentication of the good relationship
between the zone and Ajman Bank, which continues to
play a vital role in the short time.
Sheikh Al Nuaimi added "We are confident that the
bank will be the ideal partner in our efforts to
offer more services and infrastructures", said
Sheikh Abdullah, adding that, "the joint action will
help creating radical development in the area of
services promotion, to offer our clients more
convenience and suitability".
The MOU extends to include the mutual distribution
of free zone and Bank products information and
materials and the possibility of the use of the
display area of customer service branches of both
parties to present areas of cooperation and services
during customer waiting periods. There is also the
further possibility of promotion through all the
different forms of communication, including both
websites.
For his part, Acting CEO of Ajman Bank, Ali Essa Al
Shaqoosh Al Muen said: "We are honored to have
established this collaborative agreement with the
Ajman Free Zone Authority as we are committed to
achieving a sustainable partnership, ensuring that
local investments are in line with Ajman's
aspirations to become a key destination for
investors. It will also contribute significantly to
our ability to reach out to Ajman's most strategic
locations, taking advantage of the features and
facilities provided by the free zone and to provide
the optimal investment climate for them."
Ali Essa Al Shaqoosh Al Muen added: "The objective
of the agreement is to promote the various
investment opportunities in Ajman free zone and to
cement Ajman Bank's role in providing a suitable
environment for business investment. In addition to
offering the most supportive climate for investors
with the emirate of Ajman, the agreement will create
opportunities for the development of collaborative
working environments and enable the Bank to take
advantage of Ajman's current economic position as a
region of increasing significance." |
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Courtesy Ajman
Bank
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Hot
properties in UAE - Freehold |
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