The Ajman Department of Land and Real Estate Regulation has signed a Memorandum of Understanding (MoU) with Ajman Bank with the aim of enhancing financial and digital cooperation, as well as developing banking relations and services.

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

H.E. Eng. Omar bin Omair Al Muhairi, Director General of the Department, stated that the signing of this MoU comes as part of a strategic partnership with Ajman Bank, being one of the leading financial institutions in the region and for its key role in supporting the Department’s efforts to strengthen its digital system and develop its financial performance.

He affirmed that through this partnership, the Department will be able to monitor the financial performance of real estate development companies by accessing escrow accounts for real estate projects through comprehensive periodic reports. It will also facilitate all financial transactions for various customer categories, simplify procedures, and offer innovative services based on advanced working methods that ensure the highest levels of quality, speed, and confidentiality.

H.E. Mustafa Al Khalfawi, CEO of Ajman Bank, stated: “At Ajman Bank, we believe in the role of institutional integration in enhancing the quality of financial services. Through this MoU, we are establishing a partnership based on efficiency and trust, contributing to the development of an integrated system that strengthens Ajman’s position as a promising investment destination.”

This collaboration represents an advanced model of integration between the financial sector and regulatory bodies, and a significant step toward developing a more stable and transparent real estate environment in the Emirate of Ajman.