RAKEZ and RAKBANK Forge Path to SME Banking Excellence

RAKEZ and RAKBANK Forge Path to SME Banking Excellence

Discover seamless banking solutions through the strategic collaboration between RAKEZ and RAKBANK. Streamlined account openings await!

Listen to this article
Voiced by Amazon Polly

In a strategic move aimed at bolstering the financial landscape for businesses within the Ras Al Khaimah Economic Zone (RAKEZ), a groundbreaking partnership has emerged between RAKEZ and RAKBANK. This collaboration signals a pivotal moment in the region’s economic ecosystem, facilitating enhanced banking services tailored specifically to the needs of RAKEZ clients. Spearheaded by Ramy Jallad, Group CEO of RAKEZ, and Raheel Ahmed, Group CEO of RAKBANK, this Memorandum of Understanding (MoU) heralds a new era of efficiency, security, and convenience in banking services.

Streamlining Account Openings: The Power of Collaboration

Central to this collaboration is the drive to expedite and simplify the process of opening business bank accounts for RAKEZ clients. Leveraging cutting-edge blockchain technology and shared e-KYC (Know Your Customer) data, RAKEZ and RAKBANK have joined forces to revolutionize account opening procedures. Through a secure blockchain platform provided by Norbloc, the sharing of verified e-KYC data streamlines documentation requirements and enhances referral management, paving the way for swift and hassle-free account setups.

A Commitment to Client Success

This partnership’s heart lies in a shared commitment to client success and satisfaction. Ramy Jallad emphasizes RAKEZ’s dedication to facilitating business setup and ensuring ongoing support for clients post-setup. By prioritizing the optimization of the customer journey, RAKEZ aims to instill efficiency and effectiveness into every aspect of the business process. The collaboration with RAKBANK is a testament to this commitment, with both entities working together to introduce initiatives that directly benefit their clients.

Empowering Entrepreneurs: Enhanced Banking Experience

RAKBANK’s Group CEO, Raheel Ahmed, echoes this sentiment, expressing delight in extending the partnership with RAKEZ. This extension underscores RAKBANK’s unwavering dedication to providing seamless and efficient banking solutions tailored to the unique needs of businesses in Ras Al Khaimah. By harnessing innovative technologies such as blockchain and shared e-KYC data, RAKBANK aims to elevate the banking experience for RAKEZ clients, ensuring unparalleled convenience and security in financial transactions.

A Catalyst for Business Growth

The collaboration between RAKEZ and RAKBANK represents a significant milestone in fostering business growth and development within Ras Al Khaimah. This partnership creates a more conducive environment for entrepreneurs and companies to thrive by simplifying and expediting banking processes. With enhanced efficiency and reliability in financial transactions, businesses operating within RAKEZ can now focus on innovation, expansion, and achieving their strategic objectives.


In conclusion, the collaboration between RAKEZ and RAKBANK marks a transformative step forward in banking services within Ras Al Khaimah. By leveraging state-of-the-art technologies and a shared commitment to client success, this partnership sets a new standard for efficiency, security, and convenience in banking operations. As RAKEZ continues to champion the interests of its clients and foster an environment conducive to business growth, the collaboration with RAKBANK serves as a testament to the power of strategic alliances in driving economic prosperity and innovation.

To Top