Tag Archives: RAKBANK

Business & Investments

RAKBANK Joins National Bonds’ Fintech Al Manassah Platform

Partnership expands market access and supports the UAE’s vision to lead the global Islamic economy

  • Strategic agreement enables seamless Sukuk issuance, subscription, and redemption via a Shari’a-compliant digital platform
  • Partnership aims to drive financial inclusion, operational efficiency, and customers empowerment across the UAE’s Islamic finance ecosystem

Dubai, United Arab Emirates, 14 July 2025 — In a strategic move to broaden the reach of Al Manassah Sukuk Trading Platform in the UAE, National Bonds, the UAE’s leading Sharia-compliant savings and investment company has onboarded RAKBANK (The National Bank of Ras Al Khaimah) onto Al Manassah Sukuk Trading Platform. This collaboration marks a significant milestone in expanding access to one of the country’s most established Sharia-compliant digital platforms for Sukuk issuance and trading.

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Business & Investments

EDB and RAKBANK Unveil Landmark AED 1 Billion mSME Fund to Supercharge UAE’s Industrial Growth

Landmark partnership unveiled at Make it in the Emirates to empower UAE-based micro, small and medium enterprises (mSMEs) in priority sectors

Abu Dhabi, UAE – 21 May 2025 – In a major boost for UAE-based micro, small and medium enterprises (mSMEs), Emirates Development Bank (EDB) and RAKBANK have announced the launch of a co-financing partnership totalling AED 1 billion to catalyse growth in national priority sectors. The landmark initiative was unveiled at the Make it in the Emirates Forum, held under the patronage of the Ministry of Industry and Advanced Technology (MoIAT) until 22 May at the ADNEC Centre, Abu Dhabi. 

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Business & Investments

RAKBANK to Transform AI Applications in Banking Operations supported by Microsoft

Dubai, United Arab Emirates, July 10, 2024 – RAKBANK and Microsoft, as part of their ongoing collaboration, will be leveraging the power of artificial intelligence (AI) to transform various facets of operations at the bank. The intent was formalized through a memorandum of understanding (MoU) signed by Raheel Ahmed, Group CEO of RAKBANK, and Naim Yazbeck, General Manager of Microsoft UAE, at the RAKBANK Corporate office in Dubai today.

The collaboration will focus on redefining compliance, anti-money laundering and combatting the financing of terrorism (AML/CTF), and fraud detection; customer interactions; Customer Fulfillment and marketing initiatives at RAKBANK. This will be achieved through utilizing the advanced capabilities of GPT-4o, the multimodal large language model (LLM) from OpenAI, and JAIS, the world’s most advanced Arabic LLM from G42, running on Microsoft’s trusted cloud.

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Business & Investments

RAKBANK and Playtomic partner to enhance customers’ well-being

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RAKBANK and Playtomic partner to enhance customers’ well-being

Ras Al Khaimah, UAE; 23 Jan 2024: In a strategic alliance with Playtomic, the leading Padel app, RAKBANK showcases its commitment to customer well-being. Through an exclusive partnership, RAKBANK offers its cardholders complimentary Premium Memberships to Playtomic, coupled with enticing discounts on court bookings. This initiative ensures that our customers have exclusive access to wellness opportunities in alignment with evolving lifestyle trends.

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