Al Khalfawi assumed his current position in 2023. In November 2025, Ajman Bank signed an MoU with Emirates Driving Company (EDC) to finance EDC’s acquisition of a 22.5% stake in Mwasalat Holdings, with an option to increase ownership to 50.6%. In Q1 2026, the bank reported $60.4 million in operating income and had $8.9 billion in total assets. Al Khalfawi is also the chairman of Skyrise Properties and a board member of the Union Arab Banks.