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Frequently Asked Questions

Current Account

An Islamic Current Account is a non-profit paying checking account with a Debit Card and cheque book facilities.

You will be issued a FREE Debit card, which can be used at all RAKBANK and UAE SWITCH ATMs and a personalised cheque book, if required, can be issued at a nominal charge of AED 25 (first cheque book of 25 leaves free for individual accounts).

Individuals above 21 years of age who are residents in the UAE. Non-resident individuals cannot open a Current Account.

A UAE company registered as a sole proprietorship, L.L.C. Free Zone establishment, general partnership, public or private shareholding, limited partnership or club, association or society.


A RAKislamic Current Account is Sharia Compliant Current Account product managed under the Islamic principle of “Qard-Hasan”. Under the concept, the depositor is not eligible for any profit pay out. However, if you wish to enjoy profit on your account balance, you can open an Advantage account (for individuals only).

Current Accounts are available in AED, US Dollars, Euro and Pound Sterling (GBP) currencies. Other currencies are available on special request, subject to the Bank’s approval.

Statements are issued on a monthly or quarterly basis as per your requirements.

If the average monthly balance falls below the minimum average balance, a ledger fee will be charged as per the Bank’s published tariff.

A Current Account allows you to apply for a Credit Card and Finance (subject to the Bank’s approval).

Yes, we can issue a cheque book to customers who do not maintain the minimum balance requirement, as long as any issued cheques are covered by the account balance and cheque book charges maintained.

As per standard, our cheque book will be issued in AED currency.