RAKBANK: Business banking partner for today and tomorrow

RAKBANK caters to the finance needs of SMEs through competitive pricing, express services and value-driven transaction banking services

SMEs are the backbone of the UAE's economy, accounting for around 94 per cent of businesses in the country. The Dubai SME 2021 Strategic Plan aims to increase the contribution of SMEs to the country's GDP from below 40 per cent to more than 45 per cent by 2021.

With Vision 2021 in mind, RAKBANK's Business Banking model has been built to assist SMEs in meeting their financial requirements by providing a holistic suite of products and services. The Business Banking offer comprises conventional and Islamic solutions for business accounts, business loans, POS finance, working capital finance, asset backed finance, real estate finance and trade finance to SMEs that are owned and managed by both UAE nationals and residents.  

The Bank caters to clients across the SME spectrum, from start-ups to small and medium-sized businesses, offering competitive pricing, express services and value-driven transaction banking services. To offer greater flexibility for customers meeting recurring expenses, RAKBANK also offers Business Corporate Cards, with a high credit limit tailored to businesses' needs.

RAKBANK is focused on providing its customers with a "Simply Better" banking experience, through 36 branches across the country, 24/7 Contact Centre and Webchat services, via an advanced Digital Banking platform and IVR. RAKBANK Business Banking is now also partnered with government and private sector institutions to deliver value-added services and financial support specifically for SMEs.   
To learn more about RAKBANK Business Banking, visit www.rakbank.ae/business  

The writer is Dhiraj Kunwar - Managing Director, Business Banking, RAKBANK.

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