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RAK Islamic Finance Company (Pvt.J.S.C.) is a subsidiary of RAKBANK with a paid up capital of 100 million. It is duly licensed by the Central Bank of UAE to provide and offer Sharia compliant products and services in the United Arab Emirates.

RAKBANK has set up RAK Islamic Finance Company (RAKIFC) in 2012 seeking to benefit from burgeoning interest in Islamic banking products and services. The Sharia-compliant company will be involved in asset-based financing aiming at diversifying the bank’s business based on the significant demand for Sharia-compliant products in the market