Ajman Bank, the emirate’s first Islamic commercial bank, has joined hands with Islamic financial service provider Al Safwa to provide Ajman Bank customers with brokerage services.

The new agreement allows customers to buy and sell Sharia compliant shares listed in DFM and ADFM live through Al Safwa. It is the most recent of many similar deals designed to offer customers and community a broader range of services, said an Ajman Bank release.

Having live share brokerage on offer will make participation in the Emirate’s financial markets more accessible to the banks customers and support their community banking approach by encouraging people to invest in their nation’s economy, it said.

Established in 2006, Al Safwa Islamic Financial Services, a private joint company trading in the Dubai and Abu Dhabi financial markets, aims to expand its operations locally and regional closely matching Ajman Banks own ambitions.

In signing the new deal, Ajman Bank will add to its current range of customer packages from ladies to affluent banking and initiative such as auto financing deals, mobile banking facilities and an online banking card with enhanced flexibility the new live shares service adds further to the company’s credentials, the bank stated.

Both parties are committed to providing the highest level of quality in customer services and plans will see Ajman Bank accommodate an Al Safwa Kiosk in its main Khalifa Branch in Ajman as well as new branches in Abu Dhabi, Sharjah and Dubai in the near future, Ali E Alshaqoosh Al Mueen, acting CEO of Ajman Bank said.

'Ajman Bank is very pleased to start an on-going banking relationship with Al Safwa, particularly in light of its recent creation of a financial and technical analysts department. We feel confident that our clients will be in safe hands with a team that really know the financial market inside and out.'

'This goes hand in hand with our company ethos of providing and supporting the community and the Economy of UAE and we look forward to forming new relationships with clients and businesses that seek to benefit from this brokerage service,' Al Mueen added.-TradeArabia News Service