Ras Al Khaimah Economic Zone (RAKEZ) has announced a strategic partnership with Emirates NBD, a leading banking group in the MENAT region, to significantly streamline corporate banking services for businesses operating within its ecosystem. The collaboration is set to simplify and accelerate the process of opening business accounts for both SMEs and larger enterprises.
A Push for Seamless Integration
The partnership, solidified through a Memorandum of Understanding (MoU), will initially establish a dedicated banking support channel for RAKEZ investors. A key feature of the collaboration will be the future digital API integration between RAKEZ and Emirates NBD’s systems. This technological link will enable the direct and secure transmission of account application data, effectively reducing processing times and minimising the need for physical paperwork.
As part of the agreement, RAKEZ will also feature Emirates NBD as a strategic banking partner on its investor platforms, providing companies with direct access to the bank’s corporate account opening portal.
Empowering Business Growth
Leaders from both organisations highlighted the partnership’s role in supporting the business community. 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.”
Hamad Zayed, Group Head of Business Banking at Emirates NBD, added, “As a leading national bank, we are committed to empowering businesses with key financing support to enhance their growth ambitions. The collaboration combines RAKEZ’s innovative investment platform with Emirates NBD’s robust banking infrastructure, thus empowering entrepreneurs and enterprises to focus on what truly matters — building and scaling their businesses.”
Strengthening Ras Al Khaimah’s Investment Appeal
This alliance underscores RAKEZ’s ongoing efforts to enhance the ease of doing business in Ras Al Khaimah. By embedding tailored and efficient banking solutions into the investment journey, RAKEZ aims to further cement the emirate’s position as a competitive and supportive environment for companies to launch, expand, and thrive.
About RAKEZ
Ras Al Khaimah Economic Zone (RAKEZ) is a business and industrial hub established by the Government of Ras Al Khaimah, hosting over 35,000 companies from more than 100 countries across 50 industries. RAKEZ offers entrepreneurs, startups, SMEs, and manufacturers a wide range of solutions, including free zone and non-free zone licences, customisable facilities, and first-class services in a one-stop-shop environment.
About Emirates NBD
Emirates NBD is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries. The Group serves individuals, businesses, governments, and institutions with a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, and asset management.
Source: Zawya
