New Islamic lender Ajman Bank AJBNK.DU is revising its strategy amid the global economic crisis until the market improves over the next year, its chief executive said on Monday.
The bank, one of eight Islamic lenders in the United Arab Emirates, had originally planned an aggressive rollout in the federation and across the Gulf Arab region.
But it has pulled back from its pan-regional expansion and curbed plans to participate in the local real estate and credit card business as the global financial crisis sweeps across the region.
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