Wednesday 12 December 2018

RAK SME, Rakbank sign financing agreement

RAS AL KHAIMAH, March 1, 2017

Saud bin Saqr Establishment for Small and Medium Enterprises (RAK SME) and National Bank of Ras Al Khaimah (Rakbank) have signed a memorandum of understanding to provide financing services at competitive prices for entrepreneurs from the establishment.

This agreement comes as part of the efforts to provide financing solutions for youth entrepreneurs and based on the strategy of RAK SME to bolster cooperation with other entities, said a statement.

Yousef Mohammed Ismail, president of the High Commission of RAK SME, stated that this agreement comes in line with the approach of the leadership of the UAE to support UAE youths’ projects to contribute to the development of national economy.

Peter England, Rakbank CEO, said: “Rakbank is pleased to announce its partnership with ‘RAK SMEs’ to support SMEs and youth projects in Ras Al Khaimah. This agreement aims to provide RAK SME members with competitive financing and banking solutions to help them develop their businesses. We remain committed to the growth of small businesses in UAE by continuously providing them with the services that are best suited for their needs.”

Mariam Al-Kibali, director of RAK SME, said the establishment is continuously striving to create strategic partnerships that would offer an added value that benefits the projects of its members. – TradeArabia News Service

Tags: Financing | RAKBank |

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