The Department of Economic Development in Ajman (Ajman DED) signed a cooperation agreement today 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.”