Dubai, UAE: RAKBANK is a key contributor towards the UAE Banks Federation’s (UBF) commitment to mobilise AED 1 trillion in sustainable finance by 2030. UBF’s landmark declaration was made in the presence of esteemed dignitaries including H.E. Sultan Ahmed Al-Jaber, Cop28 President, H.E. Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and H.E. AbdulAziz Al-Ghurair, Chairman of the UAE Banks Federation.

Raheel Ahmed, Group CEO of RAKBANK, said “We are proud to be a valuable contributor to UBF’s 2030 sustainable finance vision. In line with this special occasion, RAKBANK is announcing ambitious plans to achieve net zero emissions in banking operations by 2030 aligned to UAE's net zero 2050 goal.

It is currently integrating sustainability into its core business strategy for long-term financial growth. In fact, the Bank has been establishing strong sustainable business practices and has witnessed solid growth for both green mortgages as well as green auto loans segments.

We will continue to work on sustainable finance solutions through the expansion of our portfolio and the adoption of best practices. I extend my appreciation to the UAE’s leadership for their unwavering support and for guiding us toward a more sustainable future.” -ends-

About RAKBANK:

RAKBANK, also known as The National Bank of Ras Al Khaimah (P.S.C), is one of the UAE’s most dynamic financial institutions. Founded in 1976, it underwent a major transformation in 2001 as it rebranded into RAKBANK and shifted its focus from purely corporate to retail and small business banking. In addition to offering a wide range of Personal Banking services, the Bank increased its lending in the traditional SME, Commercial, and Corporate segment in recent years. The Bank also offers Islamic Banking solutions, via RAKislamic, throughout its branches and its Telephone and Digital Banking channels. RAKBANK is a public joint stock company headquartered in the emirate of Ras Al Khaimah and listed on the Abu Dhabi Securities Exchange (ADX). For more information, please visit www.rakbank.ae or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.