Ras Al Khaimah Economic Zone (RAKEZ) has recently signed a Memorandum of Understanding (MoU) with Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, aimed at facilitating the bank account opening process for RAKEZ clients. The agreement was signed by RAKEZ Chief Government & Corporate Relations Officer Yaser Abdulla Al Ahmed, and ADIB Retail Banking Global Head Amit Malhotra.
Through this partnership, RAKEZ clients will gain seamless access to ADIB’s diverse range of business banking products and services. This includes a broad selection of business accounts with comprehensive features, along with a full suite of bespoke digital banking solutions tailored to the needs of SMEs and start-ups.
Commenting on the partnership, Ramy Jallad, Group CEO of RAKEZ, said, “At RAKEZ, we are always looking for ways to improve our service offering and enhance the overall investor experience. Our collaboration with ADIB is part of our commitment to providing end-to-end support for our clients, from business licensing to banking facilitation. With this added layer of support, clients can transition quickly from set-up to success, focusing more on growth opportunities and less on administrative tasks.”
Amit Malhotra, Global Head of Retail Banking at ADIB said: “Our partnership with RAKEZ demonstrates our unwavering commitment to empowering SMEs, the backbone of the UAE’s economy. ADIB is committed to facilitating the growth of SMEs and has been constantly supporting them through several initiatives that enable business owners to reach their full potential. This collaboration not only enhances our ability to provide advanced Sharia-compliant banking solutions but also solidifies our role as a trusted partner for growth-oriented businesses. Through this initiative, we are extending our support to SMEs with tailored financing options and comprehensive banking services that cater to their unique needs, enabling them to scale, innovate, and contribute to the UAE’s long-term economic vision.”
The collaboration reflects RAKEZ’s ongoing commitment to simplifying the business journey for investors and entrepreneurs, making it easier and more efficient to start and operate a business in the UAE. By combining their resources and expertise, RAKEZ and ADIB aim to empower SMEs with advanced financial tools that support their growth, while contributing to the UAE’s vision of strengthening the SME sector as a key pillar of the national economy.
