IFZA, Dubai’s most dynamic free zone community, has announced a strategic partnership with RAKBANK, reinforcing its mission to provide seamless business & financial solutions to its partners. This collaboration introduces a suite of tailored banking services to entrepreneurs and businesses operating under IFZA, aligning with the shared vision of promoting business growth and innovation in the UAE.
The official signing ceremony took place at IFZA premises in Dubai, attended by senior executives from both parties. Under the agreement, RAKBANK will help address critical banking challenges for SMEs, startups, and international businesses by offering streamlined access to business banking services, financial products, and expert advisory solutions.
“We are thrilled to announce our partnership with RAKBANK, which underscores IFZA’s dedication to providing value beyond business incorporation,” said Jochen Knecht, CEO of IFZA. “Our collaboration reaffirms our commitment to empowering businesses with seamless access to essential financial services and offering SMEs with simple and convenient banking solutions to enabling them to thrive and succeed in an ever-evolving economic environment.”
Nouwaf Mubarak Balaswad Mubarak AlDerei, Executive Vice President & Head of Business Banking Distribution at RAKBANK, added, “Our collaboration with IFZA reiterates our commitment to enhancing the entrepreneurship ecosystem in the UAE. By combining RAKBANK’s expertise in SME banking with IFZA’ holistic approach to business setup, we aim to provide solutions that elevate the business journey for startups and entrepreneurs alike.”
The association also highlights the company’s ongoing efforts to redefine and simplify business processes for its partners and will create synergies between the two organizations to utilize their respective strengths in empowering them to achieve long-term success.
About IFZA
IFZA is the most dynamic and truly international Free Zone Community in the UAE, optimizing the country’s strategic location, world-class infrastructure, and business-friendly environment. IFZA differentiates itself through its multi-national approach, providing personalized business establishment solutions through its network of Government Authorities and Professional Partners.
Business Owners and Employees can also benefit from a wide spectrum of value-added services within the IFZA ecosystem, including but not limited to property solutions, visa packages and training and development. The IFZA Business Park offers a wide variety of cutting-edge office facilities tailored to meet each Licensee’s individual needs and provides a professional, welcoming environment to greet clients, network with other businesses and thrive.
About RAKBANK
RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C), is one of the UAE’s oldest yet most dynamic banks. Since 1976, RAKBANK has been a market leader, offering a wide range of banking services across the UAE.
We’re a public joint stock company based in Ras Al Khaimah, UAE, with our head office located in the RAKBANK Building on Sheikh Mohammed Bin Zayed Road. The Government of Ras Al Khaimah holds the majority of our shares, which are publicly traded on the Abu Dhabi Securities Exchange (ADX).
RAKBANK stands out for its innovation and unwavering commitment to delivering awesome customer experiences. Our transformative digital journey aims to be a ‘digital bank with a human touch,’ accompanying you during key moments.
With 21 branches and advanced Digital Banking solutions, we offer a wide range of Personal, Wholesale, and Business Banking services. Through our Islamic Banking unit, RAKislamic, we provide Sharia-compliant services to make your banking experience seamless, whether you visit us in person or online.
