Based on the Sharia concept of Qard Hassan, RAKislamic now offers you the Business Current Account that helps you manage all your day-to-day banking needs with ease, backed by RAKBANK’s award winning service. The benefits include:

• Accounts denominated in Dirham*, US Dollar, Pound Sterling or Euro
• Cheque book facility offered for AED Accounts
• Monthly current account statements detailing all transactions
• Business Online Banking platform which allows you to manage your account at the click of a mouse
• Phone Banking Services

You are required to maintain a minimum average monthly balance in your Current Account failing which a fee as detailed below is applicable.

Foreign Currency Services effective 1^st  July, 2020

With effective from 1^st September 2022:

Foreign currency services is accrued daily and applied monthly.

 SMS ' BAC' to 7011

• Cheque book/Debit Card is issued only for AED denominated Account.
• If a cheque issued on the Account is returned, the following may apply:
• Reporting your Account to AECB.
• Account closure.
• Difficulty in availing Loans or Credit Card from RAKBANK and other banks.
• The Bank may close the Account if KYC or identification documents are not updated regularly, or if required as internal policies or upon request from regulatory / judiciary entities.

You are required to:

• Review this document and all other terms & conditions set out in the Account opening application form in detail;
• Regularly check our website www.rakbank.ae for updates;
• Notify the Bank in writing if there is a change in your contact details, business ownerships, residence status, identification details, financial details or any other material information as declared in the application form; and
• Always safeguard sensitive banking details such as Account number, cheque book, debit card, login ID, passwords, pin number etc.