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RAKEZ Enters Into Strategic Alliance With FAB (9 October 2019)

Ras Al Khaimah Economic Zone (RAKEZ) and First Abu Dhabi Bank (FAB), the UAE's largest bank and one of the world's safest financial institutions, have signed an agreement to offer RAKEZ clients special banking benefits and solutions designed specifically to meet their business needs.

As per the agreement signed by RAKEZ Chief Strategy Officer Mohammed Al Dhuhoori FAB's Group Head of Personal Banking Hana Al Rostamani, RAKEZ clients will now be able to fast-track the opening of their business account, thanks to the support from a dedicated team at FAB. Additionally, RAKEZ clients will have access to FAB's wide-range of products and services, including transaction banking and financial services along with a dedicated relationship manager to advise them on all their business banking needs.

"Our business community consists of over 14,500 companies spread across various sectors. Each of them has different business requirements, and this is no different to their banking needs. This has motivated us to partner with reputable banks in the country to provide them with an array of banking options," said Ramy Jallad, RAKEZ Group CEO. "We are glad to officially welcome FAB as the latest addition to our strategic partners. I am positive that FAB's range of offerings will help bring ease to our clients and provide them with a more seamless business journey."

Commenting on the collaboration, Hana Al Rostamani, Group Head of Personal Banking, FAB, said: "It is our pleasure to team up with RAKEZ to offer their clients a comprehensive solution to all their business banking needs. Entrepreneurship is the engine of growth in every economy, and with our innovative offerings, we aim to support them to ensure they have the business best banking solutions possible. Overall, FAB's goal is to help bolster the growth of businesses in the UAE."

This year, RAKEZ has collaborated with a total of four leading UAE banks. Mr Jallad noted that RAKEZ would continue pursuing strategic alliances not only with banks but also with other entities that can support their clients' business needs.



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