Ajman Bank's new Acting CEO

Ajman Bank Board of Directors named Seifeldin Abdelkareem as the bank’s Acting CEO.

The Board  on Sunday announced that they have decided not to confirm CEO, Mohammed Zaqout and instead named on an interim basis  Seifeldin Abdelkareem as the Acting CEO. The decision has been taken by ‘mutual agreement’, they added.

“We truly appreciate the efforts and leadership of Zaqout and take this opportunity to thank him for his contribution and initiatives during his tenure with us. All of us here at Ajman Bank wish him the very best for all his future endeavors,” the board said.

The bank maintained earnings momentum recording a breakthrough performance with record growth rate of 382 per cent in 2012 year-end compared to 2011 year-end.

"Generating consistent and quality earnings is a key priority for us as we continue to serve our clients and communities. We have got in place the very best systems, practices, controls and technology managed by an exceptional team to meet the highest standards. We are confident these measures will enable us to capitalize on the right opportunities to deliver superior results while maintaining steady growth in all critical areas," the management said.

Ajman Bank began its operations in 2008 and is the first Shariah-compliant Islamic bank incorporated and headquartered in Ajman. It now operates 11 branches across the UAE.