Fisherman's Bank, also known as Jackfish Alley and Stingray Alley, is located on the north side of the Ras Muhammed Peninsula and is within the boundaries of the Ras Muhammed National Park. It is a popular shore dive site and is located a short distance from the beach. The reef top is sand and has a sloping dropoff. There are many colorful reef fish like the emperor angelfish, regal angelfish, yellowband angelfish and pairs of bluecheek butterfly fish.

Beginning with a sheer wall, the early section of the wall is very porous, with lots of small holes and crevices, and boasts a couple of penetrable caves, each featuring seperate exit and entrance holes.

Proceeding southward, the wall gives way to a sandy plateau at around 20m (65ft), well covered with coral heads and outcrops.  After widening out considerably, the plateau narrows at its southern end to form a small channel or alley.  Further out from the wall, a second, seeper plateau can be found.

Coral growth is good overall and the fish population is excellent, with plenty of the jacks and stingrays that give the site at least two of its names, and all the usual reef fish.

The typical depth range of Fisherman's Bank is 10 to 80 feet and is best accessed by a shore dive, boat dive, or local guide. The expertise required for this area is a snorkeler, novice to advanced.