Rakez Partners With Emirates NBD To Streamline Business Banking For Investors In Ras Al Khaimah

Ras Al Khaimah Economic Zone (RAKEZ) has partnered with Emirates NBD to simplify corporate banking access for businesses within its ecosystem. This collaboration aims to streamline the process of opening business accounts for RAKEZ investors, enhancing efficiency and reducing paperwork through a dedicated banking support channel.

The agreement was formalised at the Compass Coworking Centre, where Hamad Zayed from Emirates NBD and Yaser Abdulla Al Ahmed from RAKEZ signed the Memorandum of Understanding. As part of this partnership, RAKEZ will highlight Emirates NBD as a strategic banking partner across its platforms, offering direct access to the bank’s corporate account portal.

In the next phase, digital API integration between RAKEZ and Emirates NBD systems will be implemented. This integration will enable direct transmission of account application data, significantly reducing processing time and limiting paperwork for investors.

Ramy Jallad, Group CEO of RAKEZ, stated, "Access to the right financial support can make all the difference for a growing business. Through this collaboration with Emirates NBD, we are making that access faster, smarter, and more aligned with the ambitions of our SME and corporate community. It is about creating real value at every stage of the business journey – from set-up to scale-up and beyond – and we remain deeply committed to enabling their success every step of the way."

Hamad Zayed expressed enthusiasm about the partnership: "As a leading national bank, we are committed to empowering businesses with key financing support to enhance their growth ambitions. We are pleased to join hands with RAKEZ to further our commitment by making Business Banking more accessible, efficient and digitally connected for investors within their ecosystem."

Enhancing Business Environment

This alliance underscores RAKEZ’s dedication to improving business operations in Ras Al Khaimah. By integrating tailored banking support into the investment journey, RAKEZ positions itself as an attractive environment for companies aiming to grow confidently.

Zayed also noted that combining RAKEZ’s innovative platform with Emirates NBD’s robust infrastructure empowers entrepreneurs and enterprises. He said it allows them "to focus on what truly matters - building and scaling their businesses."

The collaboration reflects both parties' commitment to fostering a competitive and investor-ready environment in Ras Al Khaimah. By ensuring reliable financial infrastructure is available, they aim to empower companies at every stage of their development.

With inputs from WAM