RAKBANK and Emirates Growth Fund (EGF) have signed a strategic agreement to bolster financing and advisory support for SMEs across the UAE. The partnership, announced at the Make It in the Emirates forum, aims to create new pathways for high-potential businesses to scale.
Quick Facts
- Partnership to expand SME financing and advisory.
- Focus on funding access and growth-enablement programs.
- Agreement signed at the Make It in the Emirates forum.
A Strategic Push for the SME Sector
The collaboration is designed to strengthen the UAE’s SME ecosystem by improving access to capital, sharing market intelligence, and developing growth-focused programs. Both entities will also explore joint ecosystem initiatives and customer engagement strategies to better serve the needs of local businesses.
This move brings together a major national bank with a dedicated growth fund, signalling a concerted effort to address funding gaps and provide more robust support structures for entrepreneurs.
Combining Banking Expertise with Growth Equity
“Supporting SMEs has always been central to our identity and remains one of the most important ways we contribute to the UAE’s economy,” said Raheel Ahmed, Group CEO of RAKBANK.
“Our collaboration with EGF reflects a shared commitment to empowering businesses through greater access to support, insights, and growth opportunities.”
Khalifa Al Hajeri, CEO of EGF, highlighted the complementary nature of the partnership.
“Emirates Growth Fund was established to address a critical gap in the UAE’s business sector, and closing that gap requires the right partners,” said Al Hajeri. He added that the agreement combines growth equity and banking expertise to help identify promising investment opportunities and create tangible scaling pathways for SMEs.
About RAKBANK
The National Bank of Ras Al Khaimah (RAKBANK) is a leading financial institution in the UAE, offering a wide range of banking and financial services to individuals and businesses. It is known for its strong focus on the SME sector.
About Emirates Growth Fund
Emirates Growth Fund (EGF) was established to address a critical funding gap in the UAE’s business sector. The fund focuses on providing growth equity to high-potential SMEs, strengthening their ability to scale and contribute to the national economy.
Source: Fintechnews.ae
