Ajman Bank PJSC, a leading Islamic financial institution in the United Arab Emirates, has successfully concluded its Annual General Meeting (AGM) on March 3, 2026. The AGM was held both in person and via electronic participation, reflecting the bank's commitment to accessibility and modern governance practices. The meeting resulted in several key approvals that underscore the bank's financial robustness and strategic foresight.

The shareholders approved the Board of Directors' report on the bank's activities and financial position for the fiscal year ending December 31, 2025. This approval reaffirms the bank's steady performance and adherence to Islamic Sharia’a principles. The external auditor's report and the Internal Shari’ah Supervisory Committee's report were also approved, further cementing the bank's transparency and compliance with regulatory standards.

A notable highlight of the AGM was the approval of a cash dividend distribution at a rate of 9.18% of the capital, translating to 9.18 fils per share, with a total value of AED 250,017,300. This dividend distribution is a testament to Ajman Bank's strong financial health and its commitment to rewarding shareholders.

Additionally, the AGM approved the appointment of Deloitte as the external auditors for the financial year 2026, ensuring that the bank's financial practices remain under the scrutiny of one of the world's leading audit firms. The remuneration for the Board of Directors was also ratified, aligning with Article 29 of the Corporate Governance Manual.

In a special resolution, the AGM approved the update of the bank's USD 1.5 billion Sukuk Issuance Programme. This update includes the preparation and publication of supplements to the base offering circular, with issuance of Sukuk that are non-convertible into shares and rank pari passu or subordinated to senior debt of the bank. This move is a strategic step towards enhancing the bank's capital structure and funding capabilities.

Given the robust financial performance and strategic initiatives approved at the AGM, Ajman Bank is well-positioned for future growth. Investors may consider a 'hold' strategy, as the bank continues to demonstrate financial stability and strategic foresight.