United Arab Emirates – The National Bank of Ras Al Khaimah (RAKBANK) today announced a strategic partnership with Etisalat’s “Hello Business Hub”, a one-stop location that enables small and medium businesses (SMBs) and start-ups to set up their operations in the UAE.

RAKBANK will provide Business Banking solutions at preferential terms to SMBs who visit Etisalat’s specialised business hub that opened this week at ONE JLT, Jumeirah Lake  Towers,  in Dubai. The strategic partnership will assist eligible start-ups and companies to gain access to RAKBANK’s suite of Business Banking products and solutions.

“As one of the largest SMB banks in the region, we are delighted to have partnered with Etisalat. This is in line with our strategy of assisting businesses where we focus on offering customized solutions that support their entrepreneurial journey. This opens up a new platform to introduce the Bank’s services to start-ups and companies. In addition, we see a tremendous opportunity in serving new businesses coming to the UAE through Etisalat’s ‘Hello Business Hub’,” said Dhiraj Kunwar, Managing Director of Business Banking at RAKBANK.   

“Today’s launch of the ‘Hello Business Hub’ represents a major milestone of our company’s global strategy and commitment to help meet the needs of the sector. We are pleased to be in partnership with RAKBANK, which furthers our commitment to offer tailored advanced solutions to SMBs to fuel their growth in the digital economy. Etisalat has successfully collaborated with more than 300,000 SMBs across industries. With Etisalat's corporate strategy focusing on 'Driving the digital future', it is working closely with all its partners, including SMBs, to transform their businesses by investing in digital services and solutions,” said Esam Mahmoud, Acting Senior Vice President, Small and Medium Business, Etisalat.

Etisalat has introduced its “Hello Business Hub” as part of its continuous efforts to facilitate the setup of businesses in the UAE and cementing the position of the small business segment. Along with RAKBANK as the exclusive banking partner, this most recent initiative is a great platform to serve SMBs and start-ups coming to the UAE by addressing the challenges and pain points of setting their business. In addition to banking solutions the other services offered include company registration and licensing, insurance, office leasing, furniture, digital marketing solutions, business devices, among others.

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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.

About Etisalat

Etisalat Group is one of the world’s leading telecom groups in emerging markets. Etisalat’s current market cap is over AED 156 billion (42.5 billion USD). With reported net revenues of AED 52.4 billion and net profit of AED 8.4 billion for 2016, Etisalat ranks amongst the most profitable telecom groups in the world. Its high credit ratings at AA-/Aa3 reflect the company’s strong balance sheet and proven long-term performance.

Headquartered in Abu Dhabi, Etisalat was established four decades ago in the UAE as the country’s first telecommunications service provider. An international blue-chip organisation, Etisalat Group provides innovative solutions and services to 140 million subscribers in 16 countries across the Middle East, Asia and Africa.

© Press Release 2018