Ras Al Khaimah, 31 July 2019: Ras Al Khaimah Economic Zone (RAKEZ) and Mashreq, a leading financial institution in the UAE, have signed a collaboration agreement at RAKEZ headquarters today, that opens up RAKEZ clients to special banking benefits and solutions particularly designed for small to medium-sized enterprises (SMEs).

With the agreement signed by RAKEZ Group CEO Ramy Jallad and Mashreq Head of Business Banking Rohit Garg, RAKEZ clients are guaranteed to experience fast-track account openings with support from a dedicated team. In addition, RAKEZ clients will have access to wide-ranging portfolio of Mashreq products, including account openings, transactions and financial services. 

“When you’re running a business, having a bank that you can rely on is just as important as choosing the ideal place to grow your business. This is why, we have been collaborating with the UAE’s leading banks; to provide our clients with banking facility options that are designed specifically for business,” said Mr Jallad. “We are very glad to team up with Mashreq because similar to us, the bank has been showing strong support to small businesses in the country through its range of SME-friendly financial products.”

Commenting on the collaboration, Subroto Som, Executive Vice President, Head of Retail Banking Group, Mashreq Bank, said: “We are proud to collaborate with RAKEZ and provide their clients with a full suite of services designed to support their business needs. Historically, Mashreq has always played a key part in supporting the business ambitions of SMEs – the backbone of the UAE economy – and we constantly strive to offer unparalleled digital banking services, innovative solutions that empower them and deliver on their financing requirements.” 

Mashreq will have dedicated counters at RAKEZ Service Centre – Al Hamra and RAKEZ Boulevard Business Centre – Dubai, where the bank representatives will be available to assist RAKEZ clients with account openings and product and services enquiries. 

This year, RAKEZ has also collaborated with two other 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 journey.