Newly-appointed CEO Mohamed Zaqout brings 20 years of finance and banking experience to Ajman Bank, having worked in different countries across the MENA region. Ajman Bank began operations in 2009 amid a tough economic and financial environment, but was able to achieve strong earnings in just a few years, posting a profit of AED12.3m for the first quarter of 2013, representing a 171 percent year-on-year increase.