Ajman land regulation in deal with Ajman Bank

23/06/2025 04:45 AST

The Ajman Department of Land and Real Estate Regulation has signed a MoU with Ajman Bank, marking a new chapter of collaboration aimed at advancing financial integration and enhancing banking services through innovative and digital-first solutions.

The agreement was signed by Engineer Omar bin Omair Al Muhairi, Director General of the Department of Land and Real Estate Regulation, and Mustafa Al Khalfawi, Chief Executive Officer of Ajman Bank.

On the signing, Al Muhairi said: "This strategic partnership with Ajman Bank reflects our commitment to advancing the department's digital capabilities and streamlining financial performance."

"Ajman Bank plays a vital role in supporting our ongoing efforts to build an agile, tech-enabled regulatory environment that responds effectively to the needs of real estate developers and investors," he stated.

Through this collaboration, the department will gain access to comprehensive, periodic reports on escrow accounts, enabling greater oversight of real estate development performance.

The partnership also paves the way for more seamless financial transactions across stakeholder groups, reducing procedural complexity and delivering future-ready services grounded in speed, privacy, and operational excellence.

Al Khalfawi said: "At Ajman Bank, we believe in the power of institutional collaboration to elevate the quality of financial services. This agreement reflects our shared vision of trust, integration, and efficiency, and supports Ajman's positioning as a competitive and investment-friendly emirate."

"This partnership serves as a model for effective synergy between regulatory bodies and the financial sector, setting the stage for a more stable, transparent, and investor-centric real estate ecosystem in Ajman," he added.

Trade Arabia