Ajman, UAE: Ajman Bank, one of the UAE’s leading Islamic financial institutions, has signed a Memorandum of Understanding (MoU) with Numou Ltd, a subsidiary of Abu ADGM, the international financial centre of Abu Dhabi and a UAE-based digital financing marketplace , to explore strategic collaboration opportunities aimed at expanding access to Shari’ah-compliant financing solutions for small and medium-sized enterprises (SMEs) across the UAE.
The Memorandum of Understanding establishes a framework for both organizations to explore opportunities in SME financing, digital integration, and embedded finance. Through this collaboration, Ajman Bank and Numou will assess opportunities to simplify access to Shari’ah-compliant financing solutions, enhance customer onboarding, and support the evolving financing needs of SMEs.
As part of the collaboration, the two organizations will explore initiatives including procurement financing, invoice financing, working capital solutions, business account opening services, API connectivity, embedded financing journeys, and joint ecosystem engagement. The partnership also provides a platform to evaluate co-marketing initiatives and other collaborative opportunities that contribute to strengthening the UAE’s SME ecosystem.
The collaboration reflects the shared commitment of Ajman Bank and Numou to supporting small & medium businesses, entrepreneurship, financial inclusion, and sustainable economic growth by improving access to innovative, technology-enabled Islamic financial solutions. By combining Ajman Bank’s comprehensive banking capabilities with Numou’s digital financing marketplace, both organizations aim to deliver a seamless customer experience while enabling SMEs to access financing more efficiently.
Mohamed Al Binali, General Manager of Numou, said: “Our collaboration with Ajman Bank represents an important step towards making Shari’ah-compliant financing more accessible and seamless for SMEs across the UAE. By combining digital innovation with trusted banking expertise, we aim to simplify the financing journey for businesses, enabling them to access the capital they need to grow, innovate, and contribute to the UAE’s economic development.”
Walid Toufic, Acting Head of Consumer Banking, said: “SMEs are a vital pillar of the UAE’s economy, and we remain committed to developing innovative banking solutions that support their growth and long-term success. Our collaboration with Numou reflects Ajman Bank’s commitment to digital innovation, customer-centricity, and expanding access to Shari’ah-compliant financing solutions. Through this Memorandum of Understanding, we look forward to exploring opportunities that enhance the customer experience, strengthen the SME ecosystem, and create sustainable value for businesses across the UAE.”
The signing of the Memorandum of Understanding marks the beginning of a strategic collaboration between Ajman Bank and Numou. Both organizations will continue to explore initiatives that promote innovation, strengthen SME financing capabilities, and contribute to the continued development of the UAE’s financial services sector.
