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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.


Currency Minimum Average Monthly Balance Fee
AED 25,000 50 AED
USD 10,000 25 USD
EUR 10,000 25 EUR
GBP 10,000 25 GBP

*Only Dirham account can be opened through Click & Collect service

  • Fill and submit the application form online & upload the documents.
  • You will receive a confirmation e-mail.
  • Once you receive the confirmation e-mail, our representative will get in touch within 48 hours to complete the account opening formalities.
  • Your Debit Card & cheque book ( as applicable) will be sent to you by courier

In line with the UAE’s Value Added Tax (VAT) implementation from 1st January 2018, VAT at the rate of 5% will be levied on RAKBANK’s fees and charges specified herein, wherever applicable and as per UAE law.