Ajman Bank PJSC is the UAE’s first wholly Islamic bank based in Ajman emirate — providing Sharia-compliant retail, corporate, and SME banking services across the UAE. Listed on the Dubai Financial Market (DFM), Ajman Bank operates under a full Islamic banking licence from the UAE Central Bank.
| Full Name | Ajman Bank PJSC |
| Listed | Dubai Financial Market (DFM): AJMANBANK |
| Major Shareholder | Government of Ajman — ~25%+ |
| Banking Type | Full Islamic Bank (Sharia-compliant only) |
| Founded | 2008 — Ajman, UAE |
| Headquarters | Ajman, UAE |
| Products | Islamic home finance, auto murabaha, SME financing, retail accounts |
Who Owns Ajman Bank?
Ajman Bank is majority-influenced by the Government of Ajman, which holds a significant founding stake of approximately 25%+ through government entities — making it the largest single shareholder. This is consistent with most smaller UAE-based banks that were founded with emirate government participation to anchor financial services in each emirate. The remaining shares are held by UAE nationals, GCC investors, and public market participants via the DFM listing. Ajman Bank operates under the guidance of a Sharia Supervisory Board that certifies all products and transactions as compliant with Islamic law.
Ajman Bank’s Islamic Banking Model
Unlike conventional banks that also offer Islamic windows, Ajman Bank is a full Islamic bank — all its products are Sharia-compliant with no conventional interest-bearing accounts or loans. Key products include: Murabaha (cost-plus financing for auto and assets), Ijara (lease-to-own for property), Musharaka (partnership financing for SMEs), and Wakala deposits. Ajman Bank has grown its retail presence across Ajman, Dubai, Sharjah, and Abu Dhabi, targeting UAE nationals and expatriates seeking Sharia-compliant banking. The bank focuses significantly on home finance (Islamic mortgages) and SME financing as its core growth segments.