Monthly Archives: June 2010

Ethos win contract to train the front-end services at Ajman Bank

Ajman Bank has appointed two consultants to redesign and improve the performance of the bank.

Ethos Consultancy, which specialises in delivering excellence in customer service solutions across the Middle East, has been engaged to train the front-end banking services.

AT Kearney, one of the world’s leading management consulting firms, will advise the bank in redesigning the organisational structure of the financial institution.

Talking to Emirates Business, Mubasher Hanif Khokhar, the bank’s CEO, said: “The initiative will help us become what we want to be.”

While banks in the UAE have gone slow on lending in the wake of the ongoing recession and the tight liquidity the banks are facing, Islamic banks are said to be relatively better placed. While most large conventional banks are stuck with higher-than-permitted lending-deposits ratio, at above 100 per cent, Islamic banks enjoy a much lower ratio.

Khokhar said while the bank is in the process of structuring innovative trade finance products, it is also planning to enter the real estate financing in a big way through Musharaka deals.

Robert Keay, Managing Director of Ethos Consultancy stated ‘Ajman Bank has ambitious plans for the future and we are delighted to be working with them on achieving these plans’.