RAKBANK partners with C3 and Farnek to promote financial inclusion amongst blue collar workers

The Bank has always been at the forefront of a well-defined segmentation strategy to deliver a diverse selection of products & services.

  
RAKBANK partners with C3 and Farnek to promote financial inclusion amongst blue collar workers

Dubai, United Arab Emirates:RAKBANK recently worked alongside their partners C3 and Farnek respectively in order to host a financial literacy campaign at both the Dubai and Ras al Khaimah headquarters. The objective of the financial literacy campaign was to highlight to the Farnek blue collar employees, also C3 prepaid cardholders, about the ability to instantly transfer money to select Asian countries* at competitive rates with RAKBANK’s Award winning** RAKMoneyTransfer remittance service by conveniently using the C3 digital mobile application on their Smartphones.  

Farnek is a leading UAE-based facilities management (FM) company that provides cleaning services for the Bank and C3 is RAKBANK’s official Prepaid Card Service Providers. Hosted by C3 at RAKBANK offices, its aim was to educate the Farnek blue collar staff about prudent financial planning and the features of the C3 prepaid payroll cards such as immediate salary transfers, payroll solutions and savings that will help them achieve their financial goals.

Commenting on the campaign, RAKBANK CEO Peter England said: “The financial literacy campaign that was driven by C3 and supported by Farnek is in line with one of RAKBANK’s main CSR pillars of financial inclusion. We are committed to offering a more holistic banking experience by providing an entry into the UAE’s blue collar payroll schemes. The Bank has always been at the forefront of a well-defined segmentation strategy to deliver a diverse selection of products & services.”

“Since 2007, C3 has provided businesses, banks and exchange houses a payroll solution that allows blue collar employees to withdraw money and make physical or online payments. Digital technology and enhanced financial infrastructure have provided the key foundation for financial inclusion of migrant workers in the UAE. Thanks to the launch of the C3 Mobile Application, these workers can benefit from an extended range of digital financial services,” said Marwan Hachem, C3-Edenred’s Managing Director, Africa & Middle East.

Markus Oberlin, Farnek’s CEO, said: “At Farnek, technology and innovation are at the forefront of everything we do for our customers so naturally we want to ensure those brand values are offered to our staff. This partnership with RAKBANK and C3 adds another dimension to staff wellbeing and further underscores our commitment to our people who, through hard work and commitment, drive our business success.”

* India, Philippines, Nepal, Sri Lanka and Pakistan

** ‘Best Technological Innovation in Payments – B2C’ by the Seamless Awards 2018

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 38 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.  

For media enquiries, please contact:
Fatima Kloub
Fatima.kloub@rakbank.ae

About C3
C3 is part of the Edenred Group, the world leader in transactional solutions for companies, employees and merchants, with business volume of more than €26 billion generated in 2017.  Edenred’s offer is built around three business lines:

  • Employee benefits
  • Fleet and mobility solutions
  • Complementary solutions including corporate payments (Edenred Corporate Payment), incentives and rewards and public social programs

Listed on the Euronext Paris stock exchange and part of the CAC Next 20 index, Edenred operates in 45 countries, with close to 8,000 employees.

About Farnek

Farnek is the leading provider of sustainable and technology driven Facilities Management in the United Arab Emirates. Established in the UAE since 1980, Farnek Services LLC is a Swiss owned independent total facilities management company. With a skilled workforce of more than 5,500+ employees, Farnek delivers professional Facilities Management services to across several sectors; Aviation, Hospitality, Banking, Retail, Shopping Malls, Telecom, Residential, Commercial, Infrastructure, Government, Education, Leisure and Entertainment.

© Press Release 2018

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