AJMAN, 22nd March 2020 (WAM) - Under the directives of H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, Ajman Bank has announced a set of initiatives aimed at participating and contributing to the government’s scheme for business continuity in the UAE in the light of precautionary measures and pressures witnessed by the global economy.

The bank has initiated a package of community initiatives in addition to the initiatives designed for its clients, through various facilities and incentives including supporting the education sector by providing AED 300,000 to purchase and distribute a number of laptops required by the distance learning system.

These initiatives come from Ajman Bank's firm belief in its social responsibility towards society, its concern for the happiness of its customers and its belief in its inherent role as one of the pillars of the national economy and as a strategic partner for the government of Ajman and the government of the UAE in achieving the national agenda that focuses on strengthening the position of the UAE as a stable and attractive destination for investment.

The bank’s initiatives that aim to ensure the sustainability and continuity of providing services to all include providing special offers to citizens of the country, according to which all citizens customers are entitled to a three-month deferral without delay on their financing products "personal finance, auto financing and real estate financing ".

All Ajman Bank customers who have availed personal loans, car loans, or mortgages can apply for a three-month repayment holiday with zero fees. The initiatives also included exempting all customers who applied for new financing products "auto finance, personal finance, or home finance" from fees by 50% in addition to withdrawing from ATMs and credit cards.

Fees on cash withdrawals made by using debit cards on all ATMs of other banks throughout the country has also been waived off. It enables credit card customers to take advantage of interest-free instalment plans for all school fees payments and e-learning devices with no processing fees for up to 3 months as well as customers using credit cards for cash withdrawals can enjoy 50% reduction in cash advance charges. In addition, the maximum cash withdrawal limits from the ATM machines have also been increased.

The initiatives also included clients with whom current and new financing facilities are available and those who are financially impacted by unpaid leave and other valid reasons can request up to 3 deferred monthly installments without fees and profit charges. They can also be provided rescheduling upon request.

Providing initiatives for priority banking services customers, small businesses, and priority banking relationship managers, permanent support and individual clients and cardholders who benefited from personal finance, auto financing or mortgages can apply for a 3-month repayment holiday without fees.

Debit cardholders can now withdraw cash for free from the ATMs of any other bank in the country and customers who use credit cards for cash withdrawals will enjoy a 50% reduction in cash withdrawal fees and credit cardholders can take advantage of 0% 3-month easy instalment plan to pay school fees and purchase e-learning devices. All Ajman Bank employees are also entitled for a deferral of 3 months on their financing.

Mohamed Amiri, Chief Executive Officer, Ajman Bank, stated, "Ajman Bank is committed to its customers and society in providing the full range of our services in such extraordinary times with confidence and safety. We would like to assure our customers that they can continue to deal with our bank and communicate with us through the use of our digital banking solutions that have been designed for the convenience of our customers and to reach them wherever they are throughout the day."