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Dubai SME and RAKBANK have collaborated jointly to support access to credit for Emirati- owned small and medium –sized enterprises operating in the Emirates of Dubai and intend to work together towards the common goal of supporting access to finance for SME in Dubai.

To enhance and promote entrepreneurship and investment initiatives of UAE nationals, diversifying and developing the local and national economic, Dubai SME introduced The Mohamed Bin Rashid Fund (MBRF) also referred as The Dubai SME Fund.

The Dubai SME Fund 

  • Encourages UAE national youth to enter into the business sector and to establish and own small and medium sized enterprises that will create employment opportunities.
  • Provides financial support to existing small and medium sized enterprise of UAE nationals.
  • Provides technical expertise in various fields to support small and medium sized enterprise of UAE national 

For more information or enquiry please write to us at SMEsouk@rakbank.ae



Hello Business Hub by Etisalat and RAKBANK have entered a strategic alliance to support small businesses where it focuses on competitive solutions that support the entrepreneurial journey and enterprise life cycle. This opens up a new platform to introduce the Bank’s services to startups in the HUB

“Etisalat’s ‘Hello Business Hub’, is a one-stop shop designed to support Small and Medium Businesses (SMBs) and start-ups in the UAE by getting their businesses off the ground. RAKBANK being the exclusive banking partner in the Hub providing business banking solutions at preferential terms* to SMBs 7 & startups  who visit Etisalat’s Hello Business HUB.

In  addition to business banking solutions, Hello Business HUB offers unique propositions related to Company setup & Registration, Insurance, VAT consultancy, Real Estate Services, Office equipment & furniture, UAE Immigration services, Special corporate discounts, Digital marketing solutions combined with the latest telecom products from Etisalat

As part of our partnership with Etisalat a  special mobile package offer * from Etisalat  can be availed by  RAK Elite Business Banking customers through Hello Business Hub using their Business Elite Debit card 

Please visit Hello Business Hub in ONE JLT Level 2  to avail the offer.
Click here for the location

For more information or enquiry  please write to us at SMEsouk@rakbank.ae

*Conditions apply 



RAKEZ is a powerhouse business and industrial hub strategically located in the heart of Ras Al Khaimah, United Arab Emirates, which offers wide-ranging customisable solutions to investors from all over the globe. Presently, RAKEZ houses over 14,900 free zone and non-free zone companies from more than 100 countries covering over 50 industries, making it one of the largest economic zones in the region.

The authority is a customer-focused entity offering cost-effective and efficient services. With its simplified business set-up processes, fast-track visa and licence issuance, and first-class services in one-stop shops, clients are ensured to experience complete ease of doing business with assistance every step of the way.

RAKEZ and RAKBANK have been working together since 2017 to support the growth of SMEs and industrial companies operating within the thriving business environment of the economic zone. RAKBANK offers RAKEZ clients easy access to a wide range of banking services at preferential terms.

In 2019, RAKEZ and RAKBANK have levelled up their collaboration by giving businesswomen in the economic zone an option for zero balance account as well as special pricing on Digital Banking services and the option to open an account in different currencies.

  • Up to 25% off on startup set-up packages and renewals guaranteed for life
  • Serviced Offices in a collaborative environment at cost-effective rates
  • Customisable warehouses and land for development for industrial companies
  • Instalment plans and 0% interest on RAKBANK Credit Cards

Kindly click here to register for the special promotion.

For more information or enquiry, please write to us at SMEsouk@rakbank.ae



Saud Bin Saqr Establishment for Youth Enterprises Development also referred as RAK SME and RAKBANK jointly collaborated with an objective to assist the members of RAKSME in availing loans and credit facilities from RAKBANK.

RAK SME an initiative by RAK Chamber, and started its work in mid-2008, playing the role of an incubator by SMEs established by nationals in the emirate of Ras Al Khaimah, as well as motivating and supporting youth in entrepreneurship. The Establishment’s projects and tasks are supervised by a supreme committee consisting of economists, heads of development and economic sectors, members of the Board of Directors at RAK Chamber of Commerce and Industry, officials of the Department of Economic Development.

For more information or enquiry  please write to us at SMEsouk@rakbank.ae



Emirates Development Bank (EDB) and RAKBANK have jointly  collaborated  to support the innovations in the UAE under Mohamed Bin Rashid Innovation Fund ( MBRIF) ,where EDB acts as the Guarantor for the Innovation Fund and RAKBANK as the Lender

The Mohammed bin Rashid Innovation Fund (MBRIF) is a federally sponsored initiative conceived and sponsored by the Ministry of Finance and operated by Emirates Development Bank to support local innovators in accessing affordable finance through the provision of a government-backed guarantee. The Fund of AED 2 billion was announced by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, during the country’s first-ever Innovation week. MBRIF will act on behalf of the UAE government to provide a guarantee as security to a financier, as an incentive to encourage the issuance of a loan and to reduce collateral required from the applicant.”

For more information or enquiry. please write to us at SMEsouk@rakbank.ae



EO U.A.E and RAKBANK has entered into Strategic alliance to support the  leading entrepreneurs in the U.A.E as an  exclusive banking partner  for EO U.A.E 

The Entrepreneurs' Organization (EO) - for entrepreneurs only - is a dynamic, global network of more than 12,000 business owners in 53 countries. Founded in 1987 by a group of young entrepreneurs, EO is the catalyst that enables entrepreneurs to learn and grow from each other, leading to greater business success and an enriched personal life. 

Value Proposition 
EO is the catalyst that enables entrepreneurs to learn from each other, leading to greater business success and an enriched personal life. The EO brand is built around the members. It is from this self-identification that the brand’s core values were determined— Boldly Go, Thirst for Learning, Make a Mark, Trust and Respect, and Cool.

For existing RAKBANK Business Banking customers who wish to join EO, please email us details of your company SMEsouk@rakbank.ae with a CC to your Relationship Manager 
 



 

RAKBANK in its endeavor to expand its product offering   entered into a strategic tie up with SAGE to support requirement of SME’s for Accounting Solutions.

Sage is one of the market leaders in accounting solutions and they are accredited by the UAE Federal Tax Authority (FTA) .Sage Business Cloud offers accounting solutions that are fully compliant with value-added taxes to small and medium businesses (SMBs). 

Sage Accounting helps businesses effectively manage their finances and cash flow by offering easy control of their business and data at any place and any time. It will also help them collaborate with colleagues and accountants to share the workload and automate processes wherever possible to improve efficiency and reduce admin tasks.

Benefits of Sage Accounting Software

  • Cloud Software Available Anywhere, Anytime 
  • Comply completely with UAE VAT legislation 
  • Manage Finance and cash flow effectively 
  • Multiple users can work  simultaneously on same data

RAKBANK Business Banking customers can now avail the accounting software through Sage on preferential terms  

For Existing Business Banking customers who are interested in Sage accounting solutions should email their company details to SMEsouk@rakbank.ae with a CC to your relationship manager at RAKBANK



 

RAKBANK in its endeavor to expand its services offering has now partnered with MI CAPITAL, a leading Corporate Finance and Business Advisory firm in the region, to offer Business Banking customers tailored VAT and accounting services on preferential terms.
 
MI CAPITAL Group offers SME clients a broad range of advisory services including Corporate Finance, Value Added Tax (VAT) Advisory Services, Accounting Services, Transaction Support Services, Debt Advisory, M&A and Private Equity Advisory Services.

For Existing Business Banking customers who are interested in MI capital  VAT and accounting services should email their company details to SMEsouk@rakbank.ae with a CC to your relationship manager at RAKBANK.



 

RAKBANK entered into strategic alliance with  CRIF Gulf DWC LLC (Dun & Bradstreet), a leader in  business information services, risk and compliance solutions provider for SME customers.

With this alliance, RAKBANK Business banking customers can avail CRIF Gulf (Dun & Bradstreet) Risk and Compliance Solutions at preferential rates. The services offered are as below.

  • D&B D-U-N-S® Number: The D-U-N-S® Number is a unique nine-digit identifier for businesses, used as the starting point for any company's Live Business Identity. D U N S Numbers are often referenced by lenders and potential business partners to help predict the reliability and/or financial stability of the company in question.
  • D&B Business Rating Report (BRR): Also known as Self Evaluation Reports (SER), CRIF D&B’s Business Rating Reports are proprietary suite of reports that help position business and act as a catalyst in generating interest among existing and potential business partners.
  • Business Information Report (BIR): The Business Information Report provides an overall profile of a company, including financial information, payment history, trends, history of business, ownership details, operational data, and details on related firms and special events. It is most trusted report used worldwide by companies for business credit decisions on both new and existing credit relationships.
  • Techno-Economic Viability (TEV) Report or Feasibility Studies: Whether the decision is to expand to new markets or segments, to start a new venture or to initiate a new product line the best approach to assess & arrive at the best decision is via feasibility studies. CRIF D&B enjoys a substantial business database rich with information that allows for robust market investigation.
  • Business Valuation Report: Buying a business, selling a business or leveraging a business’s value to raise funds can be quite complex and there will always be situations where one party to a business transaction will have more knowledge about the transaction than the counter-party. At CRIF D&B we understand these kind challenges faced and strive to put everyone on equal footing in order for more informed decision making.
  • Compliance for Small Business: Complying with state, federal, and international regulations can put an incredible amount of pressure on small businesses and these responsibilities often fall on business owners or top managers. CRIF D&B offers a complete anti-corruption solution that lets you track, audit, store and expedite decisions on customer, partner and supplier relationships.

To know more about the offerings by CRIF Gulf (Dun & Bradstreet), please write to us with your company details to SMEsouk@rakbank.ae with a CC to your relationship manager at RAKBANK.



 

Etihad Credit Insurance (ECI) and RAKBANK signed a MOU recently to assist RAKBANK’s customers in providing Export Insurance Services. ECI is the UAE’s Federal credit insurance company, offering innovative solutions to help UAE exporter and investors expand their business regionally and internationally.
 
Under the agreement signed by ECI & RAKBANK, UAE-based businesses will gain access to a portfolio of financial services and solutions such as:

  • Trade Credit Insurance (Conventional & Murabaha) including below but not limited to:

    Export Credit Insurance
    Short/Medium/ Long-Medium Term Credit Risk
    Single Buyer Risk
    Supply Risk
  • Export Financing
  • Project Financing
  • Factoring
  • SME Financing

For more information or enquiry, please write to us at SMEsouk@rakbank.ae



 

RAKBANK in its endeavor to expand its service offering has now partnered with City Properties Real Estate (CPRE), one of UAE's leading leasing and property management service providers for residential, commercial, and industrial real estate.     

RAKBANK’s Business Banking real estate customers can now avail specialized services at preferential terms on property management fees, legal services, online monitoring, and utilities payment modules through City Properties 

Since 2003, City Properties Real Estate has been a key influencer on the Emirati real estate market, delivering clients to safety during tough market conditions through its rich knowledge of real estate management and property evaluation all over the GCC and several parts of the world. City Properties is mostly distinguished by its evolutionary approach that incorporates IT solutions and the artificial intelligence to create pioneering websites and applications that enable our partners of owners, tenants and investors to keep a better track of properties.

To know more about the offerings by City Properties Real Estate, please write to us with your company details to SMEsouk@rakbank.ae with a CC to your relationship manager at RAKBANK.



Invoice Bazaar and RAKBANK have entered into a  strategic partnership which allows RAKBANK to participate as a ‘Receivable Purchaser’ on Supply Chain Finance transactions originated by Invoice Bazaar on its platform. 

Invoice Bazaar a FinTech Supply Chain Finance platform connects large buyers with SME suppliers that enables SME suppliers to avail early payment on their receivables. Supply Chain Finance is a win-win concept that helps SME suppliers get paid early on their receivables from RAKBANK. Invoice Bazaar is an easy to use portal and save SME suppliers of the complicated process of complex documents having to be submitted .

Most large global corporations have implemented Supply Chain Finance programs and other corporates are slowly learning the benefits of implementing a program. RAKBANK is the first bank in the Middle East to have partnered with a Fintech Platform for enhancing the bank’s offering to the SME clientele.