RAKBANK

RAKBANK, officially known as the National Bank of Ras Al Khaimah PJSC, was founded in 1976 and is one of the oldest and most prominent banks in the United Arab Emirates.

Headquartered in the Emirate of Ras Al Khaimah, the bank is publicly traded on the Abu Dhabi Securities Exchange (ADX) and is majority-owned by the government of Ras Al Khaimah, which holds approximately 52.76% of its shares.

Initially founded to support the economic development of Ras Al Khaimah and the broader UAE, RAKBANK has evolved into a leading provider of a wide range of banking services catering to individuals, small and medium-sized enterprises (SMEs), and corporate clients.

The bank experienced a significant strategic shift in 2001, transitioning its focus from primarily corporate banking to retail personal banking and small business services.

It now operates through over 20 branches and offers advanced digital banking services designed to provide convenient and personalized customer experiences. RAKBANK provides a comprehensive portfolio of conventional banking products, including savings and current accounts, loans, credit cards, and wealth management services.

Moreover, the bank offers Sharia-compliant products through its Islamic banking division, RAKislamic, supporting customers seeking Islamic finance options across personal, business, and wholesale banking segments.

RAKBANK has expanded its capabilities by investing in technology, data analytics, and digital innovation, aiming to become a "digital bank with a human touch."

The bank is committed to transparency, accountability, and service excellence, upholding strong governance standards with an international board of directors.

It has also diversified its offerings by acquiring a majority stake in RAK Insurance Company and launching personal remittance services. RAKBANK remains a significant player in the UAE’s banking sector, balancing traditional banking strength with innovation and customer-centric approaches, thereby contributing to the economic growth and financial inclusion within the region.