RAKEZ and CBD enter strategic alliance to support businesses with a host of banking and financing solutions

Ras Al Khaimah, 15 December 2021: Ras Al Khaimah Economic Zone (RAKEZ) has entered into a strategic alliance with Commercial Bank of Dubai (CBD) to provide RAKEZ clients with quick and convenient access to the bank's products and services.

A memorandum of understanding (MoU) was signed by Ramy Jallad, Group CEO at RAKEZ, and Dr. Bernd van Linder, Chief Executive Officer at CBD. Through this partnership, RAKEZ clients will be able to conveniently and quickly open business bank accounts and get access to innovative financing solutions with personalised services through dedicated CBD relationship managers.

"We are glad to have entered yet another valuable partnership – and this time with CBD, one of the most trusted banks in the country,” said Mr Jallad. “As always, we center our efforts in elevating the customer journey for our clients. We aim to make everything quick and easy at every aspect, and adding CBD to our growing list of strategic partners is another leap towards this objective. We will surely be rolling out more initiatives for the benefit of our clients."

Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, said: “Start-ups and SMEs are the backbone of our economy. The UAE Government has placed considerable emphasis on developing the SME ecosystem and boosting SME’s 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 the Emirate of Ras Al Khaimah and will facilitate convenient access to financial services for SMEs.”