Ras Al Khaimah Economic Zone (RAKEZ) and RAKBANK, two of Ras Al Khaimah’s largest home-grown entities, have signed a Memorandum of Understanding (MoU) to offer the economic zone’s over 13,000 clients easy access to a wide range of banking services at preferential terms. The signing ceremony was held at RAKEZ headquarters in the presence of Peter England, CEO of RAKBANK, and Ramy Jallad, Group CEO of RAKEZ, RAK Free Trade Zone and RAK Investment Authority.
Ramy Jallad said: “Since day one, our guiding principle at RAKEZ has always been ‘customers come first’. We place them and their growth at the heart of everything that we do, and this partnership with RAKBANK is a not only a big milestone but a great testament to this journey. With our collaboration with RAKBANK, we will be providing RAKEZ companies a wide range of banking solutions at exclusive rates and with short turnaround time for applications, reflecting our commitment to offering simplified and fast-track processes to our investors.”
Peter England, RAKBANK CEO, said: “In the context of building Ras Al Khaimah’s economy, the decision to go ahead with the agreement is in line with our strategy to refocus our efforts in our home emirate where we have identified several growth opportunities. We are delighted to have partnered with RAKEZ to make it all possible and this agreement will help enhance the economic environment of the emirate.”
Soon, applications to RAKBANK’s services will be accepted in various RAKEZ locations through special RAKBANK kiosks dedicated for RAKEZ clients.