Rakbank extends financial support to SMEs in Al Qouz

Rakbank announced the launch of its new branch in Al Qouz Mall in Dubai’s Al Qouz area. The new branch ishome to a sizeable SME centerthat offers financial solutions to neighboring businesses and start-ups in one of the city’smost prominent industrial hubs. 

“Recognizing that SME’s are key contributors to the economy, Rakbank continues to be aligned with this sector as itconstantly seeks out opportunities for further growth,” said Graham Honeybill, Rakbank CEO.“Rakbank aims to widen the banking options currently available to SMEs and individuals in Al Quozby offering customers a wide range of competitive and convenient solutions with award-winning customer service.”  

Rakbank offers a range of loan and deposit services for SMEs including finance through collateral-free loans without the need for placement of deposits or assets as financial guarantees. Rakbank offers business loans of AED 1 million to small businesses andlarger working capital solutions of up to AED 3 Million to medium-sized businesses. Business customers can take advantage of the Bank’s flexible repayment periods of up to 60 months, affordable interest rates, and quick approval processes. 

In addition, the new Rakbank branch in Al Qouzwill offer a wide range of conventional personal banking services to individuals,including Rakbank account, deposit and investment options as well as personal, auto and mortgage loans, and a suite of credit cards. 

“As a market leader in customer service, Rakbank is a firm believer in customer satisfaction and convenience,” added Honeybill. “To that end, the Bank is constantly working to widen its branch network and tointroduce new, alternate channels that can facilitate the customer’s banking experience such as Online Banking, and Mobile Banking.” 

Rakbank serves its customers through 31 branches and105 ATMs located across the UAE, as well as 24-hour service available by Phone Banking, Online Banking, and Mobile Banking.