Cross Border Capital Advisors

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ajman bank in uae dubai bank

How to open a bank account in Ajman Bank

Cross reference about the bank

Being professional intermediaries, we are limited in giving public opinion about some financial institutions. Please contact us directly to obtain more detailed feedback.

  • the bank is headquartered in Ajman, with branches all over the UAE;
  • the first Islamic bank registered in Ajman has received strong support from the emirate’s government, which owns 25% of the bank’s shares;
  • the bank opens savings (deposit) and current accounts;
  • the bank only opens accounts for local companies: DAFZA, JAFZA, DMCC & Dubai Mainland, personal accounts for residents;
  • the bank does not open accounts for non-Emirati companies;
  • the bank can open a personal account for non-residents (including those from the Russian Federation) with a large deposit – from USD 500 000;
  • account opening time: 1-2 weeks (Mainland), ~ 4 weeks (Free Zone);
  • minimum balance for opening an account with Relationship Manager (Priority Banking) AED 500 000 (~ USD 136 000)*;
  • for account opening visit of the beneficiary in UAE is required;
  • available currencies: AED, USD;
  • issue bank cards;
  • pre-approval before starting the process of opening an account – a positive answer allows you to say that the account is likely to be opened;
  • transfer fee is 80 AED (~ USD 22)*;
  • Internet Banking in English

* These fees are indicative and may vary depending on the banking package chosen by the client

Cross rating

2.5/5

Beginning of cooperation

February, 2019

 Last contact

November, 2023

Last update

October, 2023

Success based fee

2500 USD

Mohamed Shabana Lead Consultant UAE Banking

Mohammed

Lead Consultant “cross-border-capital-advisors” UAE Banking 

 Not rated

Global rating

 Not rated

 Countrywide rating

 —

 Countrywide rating of the head bank

 —

Global rating of the head bank

Year of foundation

2007

History

Founded in 2007. Bank shares were listed on the Dubai Financial Market in 2008. Two branches of the bank were officially opened in Ajman in 2009. The bank now has branches and ATMs throughout the UAE. Its headquarters are located in Ajman

Personnel

The staff speak English

Bank’s shareholders

25% is owned by the Ajman government, other founding shareholders include leading financial institutions and individuals from the UAE. Bank’s shares are listed on the Dubai Financial Market

Confidentiality

Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed

 124 000

 Minimum balance, €

No restrictions

 Transactions permitted per month

124 000

 Initial deposit of funds, €

0

Deadline for the initial deposit, month

Minimum balance, €

The minimum balance of account is AED 500 000 – AED 1 000 000 for companies and AED 3 000 for personal accounts

Transactions permitted per month

There are no restrictions on the number of transactions

Initial deposit of funds, €

The initial deposit equals the minimum balance

Deadline for the initial deposit, month

The initial deposit is made at the time of opening the account

How fast payments are executed

The payments are executed same day

Order a consultation

     22

     Outcoming transfer, €

    0

     Incoming transfer, €

     Account maintenance, €/year

    N/A

     Payment limit for credit cards, €/day

    Outcoming transfer, €

    The fee for transfer is AED 80 (~ USD 22)

    Incoming transfer, €

    No fees are charged on incoming transfers

    Account maintenance, €/year

    The account maintenance fee is charged if the account drops below the minimum balance and is AED 25 (~ USD 7)

    Distant access to the account

    Online banking in English

    Financial products

    The bank offers a wide range of banking and financial services, including bank accounts for corporate and individual clients, private banking, asset management, investments, and loans

    Credit/debit cards

    Both credit and debit cards are available 

    Days to open for incoming transfers
    Case by case
    Days to open for outcoming transfers
    Case by case
    References
    Not necessary
    Purpose of the account
    Savings & current

    Visit to the bank

    The beneficial owner must visit the country for account opening

    Required

    For a corporate account: completed bank questionnaires for the company and owner; bank statements from the company account for the last 6 months (if the company is new, then bank statements from the owner’s other company account); copies of existing contracts with partners; office lease contract, cash flow chart, ownership structure chart, etc.
    For a personal account: proof of identity (passport); proof of address (not older than 3 months); Resident Visa; CV; bank reference letter + bank statements for the last 6 months.
    The list is not exhaustive. The bank may request any other documents and information

    Types of accounts

    Savings; Current

    Chances to open an account

    Predictable

    Bank

    The cost of opening an account, $

    Global rating

    Countrywide rating

    Cross rating

    Dubai Islamic Bank
    2 500
    N/A
    N/A
    3/5
    Arab African International Bank
    2 500
    N/A
    N/A
    2.5/5

    Sharjah Islamic Bank P.J.S.C

    2 500
    N/A
    N/A
    2.5/5
    Commercial Bank of Dubai (CBD)
    2 500
    N/A
    N/A
    3.5/5
    Banque Misr
    2 500
    N/A
    N/A
    3/5
    Emirates Islamic Bank
    2 500
    N/A
    N/A
    3.5/5

    Abu Dhabi Islamic Bank (ADIB)

    2 500
    N/A
    N/A
    3/5
    RAKBANK
    2 500
    N/A
    N/A
    3.5/5
    Abu Dhabi Commercial Bank (ADCB)
    2 500
    N/A
    N/A
    3/5
    Mashreqbank
    2 500
    N/A
    N/A
    3.5/5

    Ajman Bank

    2 500
    N/A
    N/A
    2.5/5

    Emirates NBD PJSC

    2 500

    239

    1

    3.5/5

    Bank

    The cost of opening an account, $

    Dubai Islamic Bank
    2 500
    Arab African International Bank
    2 500

    Sharjah Islamic Bank P.J.S.C

    2 500
    Commercial Bank of Dubai (CBD)
    2 500
    Banque Misr
    2 500
    Emirates Islamic Bank
    2 500

    Abu Dhabi Islamic Bank (ADIB)

    2 500
    RAKBANK
    2 500
    Abu Dhabi Commercial Bank (ADCB)
    2 500
    Mashreqbank
    2 500

    Ajman Bank

    2 500

    Emirates NBD PJSC

    2 500