Payment solutions provider Magnati and Ajman Bank have partnered to launch a financial solution specifically designed for small and medium-sized enterprises (SMEs).
The initiative aims to provide SME merchants with the tools necessary for business growth, in alignment with the UAE’s economic development goals. It will allow SME merchants can leverage real-time POS payment transaction data to access a variety of financing options from Ajman Bank, including Shari’ah-compliant business financing, as well as invoice, equipment, receivables, and POS financing.
Commenting on the partnership, Mustafa Al Khalfawi, CEO of Ajman Bank, said: “At Ajman Bank, we are dedicated to supporting the UAE’s SME sector. This partnership with Magnati exemplifies our commitment to providing innovative, Shari’ah-compliant financial solutions that enable SMEs to thrive and contribute to the UAE’s prosperity.”
Ramana Kumar, CEO at Magnati, added: “We are excited to partner with Ajman Bank, a financial institution that is integral to the Emirate’s economic progress.”
