It may only have seven branches across the
UAE, but Sharia-compliant Ajman Bank has got its eyes set on growth
with tailor-made products:
The bank has thus commenced offering banking
services particularly for women, in a country where gender
segregation is part of everyday life and women-only services, such
as taxis for females, are common.
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The Mahra Ladies Banking service will
initially be available at selected areas of the bank’s
headquarters, but Ajman Bank intends to distribute it nationwide at
an as of yet unspecified time.
Ajman Bank even has head of Ladies Banking,
Maryam Al Shorafa, who said that the bank wanted to show that it
recognised the increasing financial independence of women in the
UAE region.
The Mahra Ladies Banking service includes the
Mahra Debit Card, which entitles card holders to discounts at
upmarket fashion stores, resorts and restaurants, as well as access
to Ladies Club outlets, a chain of gyms, in Abu Dabi. Dubai and
Sharjah.
Other features of the female-specific banking
service include concierge services and free valet parking.
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By GlobalDataThe launch of the Mahra Ladies service follows
that of Abu Dhabi Islamic Bank’s, who launched the first women-only
branches in the UAE in 2001.
Outside of the Middle East, Italian lender UniCredit took the lead
in opening women-only
branches and launching women-specific products in Bulgaria
through its subsidiary Bulbank in April.
