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    AJMANBANK   AEA003201018

AJMAN BANK PJSC

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Ajman Bank : Partners with Kamel Pay to Provide Innovative Payment Solutions for Businesses and Individuals

08/24/2021 | 03:24am EDT

Ajman Bank Partners with Kamel Pay to Provide Innovative Payment Solutions for Businesses and Individuals

Ajman Bank, one of the leading Shariah compliant banks in the UAE, has signed a partnership agreement with Kamel Pay, a Fintech Company to build and implement a highly innovative payments value proposition for businesses and individuals in the UAE. This partnership will form the basis of growth in the digital financial solutions in the UAE.

Inspired by the UAE's National Payment System Strategy of moving towards cashless society, Kamel Pay was envisioned in 2019 as a Fintech Company with the strategic aim of empowering businesses and individuals with digital access to a full suite of financial services in the UAE. Kamel Pay aims to expand beyond the UAE and become the leading Fintech Company in the MENA Region.

Mr. Hussain Al Qemzi, Chairman, Kamel Pay, said, 'We are excited in partnering with Ajman Bank and launching digital financial services for businesses and individuals across the UAE; via a friendly and secure digital app-based platform. This Partnership will enable the much-required financial inclusion for the UAE's underbanked population through state-of-the-art Kamel Pay digital app offering relevant and affordable financial services for their personal and family needs.

'Having Ajman Bank as our trusted banking partner will provide Kamel Pay a strong foundation to deliver innovative financial products and a seamless customer experience for businesses and individuals through a cutting-edge payment platform and superior service delivery. This collaboration between a Bank and an agile Fintech offering latest digital technologies will have a substantial impact on the adoption of secure and cashless payments across the UAE; especially in the underbanked population who had been largely neglected till now.'

Mr. Mohamed Amiri, Chief Executive Officer, Ajman Bank, said, 'We are glad to collaborate with Kamel Pay as part of our ongoing commitment to strengthen the payment infrastructure with the most advanced, secure and cashless payment solutions. Our goal is to develop a robust electronic payment ecosystem driven by data and insights to increase the safety and security of electronic payments. It complements our strategy and vision to address the needs of our customers with the most innovative products and services.'

Kamel Pay strives to remain at the forefront of solving the ever-emerging financial needs of the UAE and future markets by delivering the advantages of secure, instant and cashless payments through product innovation and cutting-edge digital technology.

Unlike many other Fintech firms, Kamel Pay founding team comprises a group of seasoned professionals with over 100+years of collective commercial banking and technology leadership experience with a proven track record of developing and executing innovative customer-centric digital solutions delivering value-added customer benefits in multiple banking and financial services organizations across the region.

Disclaimer

Ajman Bank PJSC published this content on 22 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2021 07:23:05 UTC.


ę Publicnow 2021
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Sales 2021 719 M 196 M 196 M
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 1 434 M 390 M 391 M
Capi. / Sales 2021 1,99x
EV / Sales 2022
Nbr of Employees -
Free-Float 53,3%
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 0,68 AED
Average target price 0,78 AED
Spread / Average Target 14,2%
Managers and Directors
Mohammed Abdul Rahman Amiri Chief Executive Officer
Seifeldin Abdelkareem Chief Financial Officer
Ammar bin Humaid Rashed Al-Nuaimi Chairman
Hajar Mohamed AlMaazmi Head-Information Technology
Salem Al-Shamsi Chief Operating Officer
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