RakBank recently partnered with C3, part of the Edenred Group and Farnek, a leader in facilities management, in order to host a financial literacy campaign at both the Dubai and Ras al Khaimah headquarters of the bank.

The objective of the financial literacy campaign was to highlight to the Farnek blue collar employees, also C3 prepaid cardholders, about the ability to instantly transfer money to select Asian countries at competitive rates with RakBank’s RAKMoneyTransfer remittance service by conveniently using the C3 digital mobile application on their Smartphones.   

The campaign aimed to educate the Farnek blue collar staff about prudent financial planning and the features of the C3 prepaid payroll cards such as immediate salary transfers, payroll solutions and savings that will help them achieve their financial goals.

RakBank CEO Peter England said: “The financial literacy campaign that was driven by C3 and supported by Farnek is in line with one of RakBank’s main CSR pillars of financial inclusion. We are committed to offering a more holistic banking experience by providing an entry into the UAE’s blue collar payroll schemes. The Bank has always been at the forefront of a well-defined segmentation strategy to deliver a diverse selection of products & services.”

“Since 2007, C3 has provided businesses, banks and exchange houses a payroll solution that allows blue collar employees to withdraw money and make physical or online payments. Digital technology and enhanced financial infrastructure have provided the key foundation for financial inclusion of migrant workers in the UAE. Thanks to the launch of the C3 Mobile Application, these workers can benefit from an extended range of digital financial services,” said Marwan Hachem, C3-Edenred’s managing director, Africa & Middle East.

Markus Oberlin, Farnek’s CEO, said: “At Farnek, technology and innovation are at the forefront of everything we do for our customers so naturally we want to ensure those brand values are offered to our staff. This partnership with RakBank and C3 adds another dimension to staff wellbeing and further underscores our commitment to our people who, through hard work and commitment, drive our business success.” – TradeArabia News Service