UAE's Noor Bank, RAKEZ enter strategic alliance

UAE - Noor Bank has signed a memorandum of understanding (MoU) with Ras Al Khaimah Economic Zone (RAKEZ), aimed at facilitating access to the bank's products and services for new RAKEZ clients.

Mufazzal Kajiji, head of Retail Banking at Noor Bank, and Mohammed Al Dhuhoori, chief strategy officer at RAKEZ, signed the agreement. The MoU appoints Noor Bank a preferred banking partner of RAKEZ, providing financial support and best-in-class services to companies setting up in the business district through the Noor Trade Business Accelerator, a 360-degree digitalised ecosystem designed to meet the needs of SMEs. Companies can opt for customised account packages under Noor Trade's Link rewards account series, and benefit from discounted banking and business partner services as well as rewards.

Building on the bank's commitment to delivering outstanding customer experiences, the offering includes access to the latest reports and updates on market and industry trends that enable companies to keep track of important developments that could affect their businesses or investments.

Mufazzal Kajiji said: "We are pleased to enter a strategic partnership with RAKEZ. Our pursuit of innovation and excellence has led to the creation of the Noor Trade Business Accelerator that offers immense benefits to SMEs setting up in RAKEZ providing them with competitive financial products as well as a suite of value-added services."

RAKEZ group CEO, Ramy Jallad, said: "We are very happy to have entered yet another valuable partnership - and this time with Noor Bank, one of the fastest-growing banks in the country. Our number one priority is to always provide our clients with a seamless customer journey, and this collaboration is another leap towards this objective. Now, our clients can open corporate and personal bank accounts quickly and easily clearly communicated requirements. Best of all, Noor Bank will have a dedicated counter at our service centre in Al Hamra and our Boulevard Business Centre in Dubai to facilitate the opening of accounts as well as assist with their queries. I'm very positive with our team up with Noor Bank and we'll surely be rolling out more initiatives for the benefit of our clients."