UAE’s RAKEZ, CBD unite to offer banking products for free zone’s clients

UAE’s RAKEZ, CBD unite to offer banking products for free zone’s clients

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Ras Al Khaimah Economic Zone (RAKEZ) has signed an agreement with the Commercial Bank of Dubai (CBD), one of the leading banks in UAE, to offer the free zone’s customers easy access to the bank’s products and services.

Under the collaboration agreement, RAKEZ clients will be able to conveniently and quickly open business bank accounts and get access to innovative financing solutions with personalized services through dedicated CBD relationship managers.

The Memorandum of Understanding (MoU) was signed by Mr. Ramy Jallad, Group CEO of RAKEZ, and Dr. Bernd van Linder, Chief Executive Officer of CBD.

Dr. Bernd van LinderCEO – CBD

“Startups and small and medium-sized enterprises (SME) are the backbones of our economy. The UAE Government has placed considerable emphasis on developing the SME ecosystem and boosting SMEs’ contribution to the UAE’s economy. We are proud to partner with RAKEZ and to back the ambitions of RAKEZ’s clients, by providing these businesses with the financial support they need to accelerate their growth. Our agreement will also make it easier to do business in Ras Al Khaimah and will facilitate convenient access to financial services for SMEs.”

Commenting on the MoU, Mr. Jallad remarked that, “We are glad to have entered yet another valuable