Ras Al Khaimah Economic Zone (Rakez) and RakBank, two of Ras Al Khaimah’s largest home-grown entities, have partnered to offer the economic zone’s over 13,000 clients easy access to a wide range of banking services at preferential terms.

The signing of the memorandum of understanding (MoU) was held at Rakez headquarters in Ras Al Khaimah in the presence of Ramy Jallad, Group CEO of Rakez, RAK Free Trade Zone and RAK Investment Authority, and Peter England, RakBank CEO.

“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,” Jallad said.

“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. This is just one of the many partnerships that we are going to sign with government entities in Ras Al Khaimah, as part of an overall drive to create a customer-centric and nurturing ecosystem for investors.”

Peter England 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.”

Applications to RakBank’s services will be accepted in various Rakez locations through special RakBank kiosks dedicated for Rakez clients, a statement said. – TradeArabia News Service