Abu Dhabi, UAE – Magnati, a leading payment solutions provider in the Middle East, has partnered with Ajman Bank to launch an embedded finance solution aimed at supporting the growth of SMEs. This collaboration will provide seamless access to Shari’ah-compliant financial services, giving SME merchants the tools they need to scale their businesses and contribute to the UAE's economic progress.

With this new offering, SME merchants can use real-time POS payment transaction data to gain access to a broad range of financing options from Ajman Bank. These include Shari’ah-compliant business financing, as well as invoice, equipment, receivables and POS financing. The platform is designed to meet the unique financial needs of SMEs in a fast and efficient manner, while aligning with Shari’ah principles.

The collaboration between Ajman Bank and Magnati underscores a shared vision of financial inclusion to enable SMEs in the UAE to succeed and contribute to the growth of UAE’s economy.

Commenting on the partnership, Mustafa Al Khalfawi, CEO of Ajman Bank, said: “At Ajman Bank, we are dedicated to supporting the UAE’s SME sector. This partnership with Magnati exemplifies our commitment to providing innovative, Shari’ah-compliant financial solutions that enable SMEs to thrive and contribute to the UAE’s prosperity. By streamlining access to finance, we are giving businesses the tools they need to succeed in today’s competitive landscape.”

Ramana Kumar, CEO at Magnati, commented: “We are excited to partner with Ajman Bank, a financial institution that is integral to the Emirate’s economic progress. By integrating Ajman Bank’s Shari’ah-compliant financial solutions with our platform, we are enabling SMEs to access essential financial resources easily and enhancing their contribution to UAE’s economy.”

This partnership simplifies the application process for SMEs using Magnati’s payment solutions. This also enables faster approvals and a more personalized and enhanced customer experience. EMI repayments are automatically deducted from daily payouts, improving cash flow management and providing businesses with financial stability.

About Ajman Bank

Ajman Bank is an Islamic bank with an ambitious vision based on values ​​of integrity, trust and transparency seeks to provide a wide range of Sharia-compliant and high-quality banking services to customers from individuals, companies and government institutions across the UAE. It is also keen to be updated with the latest technology that will ensure customers a distinctive experimental banking with the revival of human touch that is lost in the modern era of banking application.

Ajman Bank is headquartered in Ajman and enjoys the strong support of the Government of Ajman and is a key pillar in the emirate's economic development strategy. The bank continues its tireless efforts to establish a prominent position in the banking sector as a sustainable Islamic banking institution, with an emphasis on the need to achieve an optimal balance in the community and caring staff, in order to provide real value for shareholders and customers alike. For more information visit http://www.ajmanbank.ae

About Magnati

Magnati is a regional leader in the payment solutions industry focused on direct acquiring, issuer processing, and acquiring processing. Magnati provides government, merchant, and institutional clients with an intelligent payments platform, using next-generation technology to deliver improved experiences and increased efficiency. The Magnati brand is charged with energy and potential and is set to transform payments into possibilities.

Headquartered in Abu Dhabi, Magnati’s expertise and relationships provide a platform for the company to attract international partners while setting a new standard for innovation and delivery in the payments industry.

Visit magnati.com for more information.

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