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Business Home > Archive
Ajman Bank’s new service targets female customers

Abdul Basit / 14 June 2011

DUBAI - Ajman Bank has launched a new ladies banking service and expects a double-digit growth in the segment in the beginning, according to a 
top executive.

Mahra, which is Arabic for filly, has been designed by Ajman Bank to meet the professional requirements and lifestyle needs of women across the UAE. It’s loaded with a world of benefits and rewards for female customers, the bank said. “In the past we have not been focusing on it [female segment] and after this launch it is expected that we increase the percentage [of female customers],” Ajman Bank Group Head of Retail Banking Asad Batla told Khaleej Times at the launch on Monday.

“Ladies can be more, but for this specific account any where between 5-10 per cent in the beginning,” Batla said, adding: It could be higher percentage, all depend on market. The bank will have dedicated sections to serve female customers in exclusive areas of select branches, beginning at the main branch in Ajman. Mahra sections will shortly afterwards be introduced in Abu Dhabi and elsewhere across the bank’s nationwide network, Batla said. Female customers may open a Mahra account at any Ajman Bank branch in the UAE.

Recent market research indicates a significant rise in female participation in the financial decision-making process in homes throughout the region, especially in the UAE. Based on these studies and its own research, Ajman Bank carefully evaluated the unique spending, borrowing and investing habits of women in order to develop its Sharia-compliant Mahra ladies account. Mahra customers receive a range of benefits, including a Mahra Debit Card, which provides discounts at high-end retail outlets, more than 60 restaurants, and hotels and resorts across the country. In addition, Mahra customers are eligible for unlimited access to health and fitness facilities at Ladies Clubs in Abu Dhabi, Dubai and Sharjah. Finally, customers receive free valet parking at leading venues across the UAE, as well as access to concierge services. “At Ajman Bank we continuously endeavour to understand the needs of our customers – especially women, who are important member of society and whose increasing influence in financial decision-making creates a need to address their special requirements,” Batla said, adding: “Our bank wants to be a perfect partner in their journey, whether it is handling their transactions or rewarding them through benefits and discounts.” Maryam Al Shorafa, Head of Ladies Banking at Ajman Bank, said, “When we were developing this new initiative, we wanted to take full account of the increasingly dynamic role of women in the UAE, who are now fully empowered financial decision-makers.”

“The role of women continues to evolve here and across the wider region – and we understand that Ajman Bank must keep pace with the times,” Al Shorafa said.



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