Ajman Bank signs Memorandum of Understanding with AU to finance education expenses for university students

Ajman - Ajman Bank, an Islamic bank (Sharia compliant bank) in the framework of strengthening joint cooperation with universities and institutions of the education sector, has signed a memorandum of understanding (MoU) with Ajman University on the sidelines of the Ajman International Education and Training Exhibition “AETEX 2017”, so as to provide a variety of Sharia Compliant Education Financing facilities that caters directly to the students of Ajman University to finance their university education expenses so as to assist students and their parents to afford the expenses of academic life.

The signing ceremony was witnessed by Mr. Hisham Hammoud, Chief Business Officer and Executive Vice President at Ajman Bank and Dr. Karim Seghir, Chancellor of Ajman University.

Commenting on the MoU, Mr. Mohamed Amiri, Chief Executive Officer of Ajman Bank, said, “The MoU was signed with the intent to finance the expense of students in the various stages of education. Investing in Children is an Investment in Our Future.”

Mr. Mohamed Amiri, further explained, “The signing of memorandum of understanding is a part of our endeavour to enhance mutual cooperation relations with universities and academic institutions of higher education and scientific research sector and through this agreement Ajman Bank would develop a comprehensive funding strategy to support the provision of innovative funding solutions by providing customized offers to students to fund college and education expenses, and provide variety of facilities designed to ease the financial burden, which kept pace with societal responsibility. We at Ajman Bank constantly seek to support the students by providing financing facilities that support in providing high quality education in the education sector and raise the level of coordination and communication with the students of Ajman University.”

On his part, Dr. Karim Seghir, Chancellor of Ajman University stated, “Ajman University since its inception has been committed to provide relevant and innovative curriculum for students in the pursuit of educational attainment. The university until today has made transformative impact on the lives of more than 32,000 alumni who occupy prominent leadership positions in public and private sector organizations within and outside the UAE. This agreement with Ajman Bank is its efforts to achieve comprehensive strategic vision of Ajman University to form constructive ties , which has been its creation over the past 29 years, to include future generations of learners. "

On the signing of the agreement, Mr. Hisham Hammoud said "The funding provided by the Bank's programs for students of Ajman University in an integrated manner takes into account the financial needs, where we seek to reach a larger number of 'beneficiary' students. Through this program the bank would provide financing facilities to the students of Ajman University, to meet the needs of university education expenses and provide various facilities designed to ease the financial burden on students and their families.

About Ajman Bank:

“Ajman Bank” an Islamic bank with an ambitious vision, built on integrity, trust and transparency values, seeks to provide a wide range of Shariah compliant and high quality banking services to customers from individuals, companies and government institutions at the state level. It is also keen to recruit the best staff and also be updated with latest technology that will ensure customers a distinctive experimental banking with emphasis on the revival of human touch that is lost in the modern era of banking services.

It is worth mentioning that Ajman Bank, based in the emirates’ of Ajman has strong support from the government, which is a fundamental pillar in the economic development of the emirate’s strategy. The bank will continue its tireless efforts to become an Islamic banking institution sustainable in every sense of the word, 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.