RAKEZ and Emirates NBD Unite to Simplify Business Banking for Investors

Ras Al Khaimah Economic Zone (RAKEZ) has struck a new partnership with Emirates NBD, one of the region’s biggest banking groups, to make life a little easier for investors trying to open business accounts. The move sounds pretty spot on for entrepreneurs, especially those who’ve ever found the account-opening process to be a bit of a faff (and who hasn’t been there, honestly?).

Under this fresh Memorandum of Understanding, both parties will work together to speed up and digitise corporate account openings for small and medium enterprises as well as bigger companies within the RAKEZ community. The plan involves rolling out a dedicated support channel first, followed by an API link allowing seamless data transfer between their systems. That means fewer forms, less waiting around, and a smoother experience for newcomers settling into Ras Al Khaimah’s growing business scene.

When you think about it, most startup founders don’t have weeks to spare just to get a bank account sorted. I’ve met plenty across the MENA region who say admin hurdles can drain early momentum faster than expected. That’s why this kind of collaboration could really help — cutting through red tape so investors can focus on growth instead of paperwork.

Ramy Jallad, RAKEZ’s Group CEO, pointed out that the deal is all about giving businesses “faster, smarter access” to financial tools that match their ambitions. In his words, it’s part of RAKEZ’s push to add value “from set-up to scale-up,” ensuring that local entrepreneurs don’t hit unnecessary bottlenecks. On the flip side, Hamad Zayed, who heads Business Banking at Emirates NBD, said the bank aims to make its services more accessible and digitally connected. He highlighted how merging RAKEZ’s investor platform with Emirates NBD’s banking backbone should help companies prioritise what matters most — building their businesses.

Honestly, I reckon this alliance is pretty timely. Between more investors eyeing Ras Al Khaimah and the UAE’s ongoing push to bolster financial inclusion, this tie-up might streamline what’s traditionally been seen as a bureaucratic challenge. And if the promised integration delivers as planned, it could become a model for other free zones in the region.

At Arageek, we’ve seen plenty of founders around the Gulf say that simple processes can make or break the early days of a startup. I still remember one founder joking that setting up a business account back in 2014 took “less time to raise pre-seed funding than to get a debit card.” So, if RAKEZ and Emirates NBD really pull this off, many will be chuffed to bits.

For now, this partnership seems to underline RAKEZ’s broader mission — turning Ras Al Khaimah into a genuinely investor-friendly hub. With more than 35,000 companies already operating there, the addition of direct digital banking access could be that extra nudge that convinces even more entrepreneurs to set up shop in the emirate. Smart move, really… and one that’ll definately make investors’ lives a touch easier.

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