Shams And RAKBANK Collaborate To Enhance Financial Access For SMEs In The UAE

Sharjah Media City (Shams) and the National Bank of Ras Al Khaimah (RAKBANK) have entered into a Memorandum of Understanding. This collaboration aims to enhance financial access and growth opportunities for start-ups and SMEs across the UAE. By merging Shams' dynamic business environment with RAKBANK's digital banking services, entrepreneurs can benefit from innovative solutions that simplify business establishment and financial management.

The partnership underscores both organisations' commitment to supporting the UAE's vision of becoming a global hub for entrepreneurship, creativity, and innovation. By strengthening ties between the financial and business sectors, this agreement enhances Shams' influence in media industry development. It also reaffirms its mission to empower the nation's entrepreneurial ecosystem.

Rashid Sahoo, Director of Operations at Sharjah Media City (Shams), expressed dedication to simplifying entrepreneurship. He stated, "At Shams, we are dedicated to simplifying the entrepreneurial journey and fostering an environment where innovation and ambition can flourish. Our partnership with RAKBANK marks another step forward in supporting SMEs and start-ups with essential financial tools and easy access to capital. By combining Shams’ nurturing ecosystem with RAKBANK’s leading digital banking capabilities, we strive to help businesses grow smarter, faster, and more sustainably."

Emad Ahmed, EVP and Head of Commercial Banking at RAKBANK, shared enthusiasm for the partnership. He said, "We are delighted to partner with Sharjah Media City (Shams) to support the UAE’s vibrant start-up and SME community. At RAKBANK, we recognise the importance of speed, flexibility, and trust in business banking. Through our digital-first solutions and tailored financial products, we look forward to helping Shams’ entrepreneurs establish, manage, and scale their businesses with confidence."

This strategic alliance highlights how Shams' success as a free zone contributes directly to the UAE's broader goals of economic diversification. The focus is particularly on sustainable development within creative and media sectors. Such partnerships demonstrate Shams' role as a key driver in these industries.

By offering robust collaboration between finance and business sectors, this agreement strengthens Shams' position as a central player in media industry growth. It also supports national objectives by empowering entrepreneurs through enhanced access to essential financial resources.

The collaboration between Shams and RAKBANK is set to provide significant benefits for entrepreneurs across the UAE. By leveraging advanced digital banking services alongside a supportive business ecosystem, it aims to facilitate smarter growth for start-ups and SMEs.

With inputs from WAM