Abu Dhabi, UAE, RAKBANK and Emirates Growth Fund (EGF) signed a Memorandum of Understanding (MOU) at Make It in the Emirates, marking a strategic alignment between two of the UAE’s leading institutions in SME financing and growth equity.
The strategic partnership establishes a framework for both organisations to explore future collaboration opportunities focused on strengthening the SME ecosystem through funding access, advisory support, market insights and growth-enablement initiatives.
Through the collaboration, RAKBANK and Emirates Growth Fund will jointly explore opportunities to support SMEs and entrepreneurs through ecosystem-driven initiatives, customer engagement programs, thought leadership content and the sharing of market intelligence and investment insights.
The partnership will also create opportunities for mutual visibility across digital platforms and participation in initiatives designed to empower businesses and contribute to the UAE’s long-term economic development.
Raheel Ahmed, Group CEO of RAKBANK, said:
“For the past 50 years, RAKBANK has supported more than 250,000 businesses across the UAE, helping entrepreneurs start, grow, and scale their ambitions. Supporting SMEs has always been central to our identity and remains one of the most important ways we contribute to the UAE’s economy and entrepreneurial ecosystem.
As the UAE continues to strengthen its position as a global hub for innovation and entrepreneurship, partnerships like this play an important role in creating a more connected and future-ready SME landscape. Our collaboration with Emirates Growth Fund reflects a shared commitment to empowering businesses through greater access to support, insights, and growth opportunities, while continuing to deliver banking that combines digital innovation with a human touch.”
Khalifa Al Hajeri, CEO of Emirates Growth Fund, said:
“Emirates Growth Fund was established to address a critical gap in the UAE’s business landscape — and closing that gap requires the right partners. Our MoU with RAKBANK brings together growth equity and banking expertise to create tangible pathways for high-potential SMEs to scale, while also strengthening our ability to identify promising growth equity investment opportunities across the UAE. This is not a symbolic agreement; it is a commitment to building the connective tissue of a stronger, more resilient SME ecosystem and a deeper pipeline of future national champions.”
The MOU further strengthens RAKBANK’s alignment with national SME priorities and deepens the Bank’s engagement within investment-led ecosystems that support entrepreneurship, innovation and sustainable economic growth.
This agreement represents a foundation for future collaboration between the two organisations, creating meaningful opportunities to deliver long-term value to the UAE’s SME sector.
We’re RAKBANK.
Banking should feel simple. Human. Helpful. So that’s the kind we build.
Since 1976, we’ve been helping people and businesses across the UAE grow with confidence, giving them the tools, the support, and the trust to make things happen. We started as a community bank and grew into one of the country’s most dynamic financial institutions. What’s never changed is our belief that banking should work for people, not the other way around.
Today, we’re leading a new chapter, one that combines smart digital innovation with genuine human connection. We call it digital with a human touch.
We serve customers across every segment through our Personal Banking Group (PBG), Business Banking Group (BBG), and Wholesale Banking Group (WBG). As the UAE’s go-to SME bank, we’re helping thousands of businesses grow and thrive with seamless, digital-first banking.
Our group also includes Skiply, the region’s leading school payments app; Protego, our next-generation insurance aggregator; and RAK Insurance, one of the UAE’s most trusted insurers, together creating an ecosystem that makes life simpler and safer for our customers.
From empowering entrepreneurs and SMEs to launching the UAE’s first crypto brokerage for retail customers and our own AI-powered digital assistant, we’re shaping the future of banking while keeping the heart of it the same: people.
RAKBANK — Digital with a human touch.
For more information, please visit www.rakbank.ae.
Alternatively, you can connect with us on our social media platforms:
X.com/rakbanklive
Instagram.com/rakbank
tiktok.com/@rakbank
https://www.linkedin.com/company/rakbank
For more information, please contact:
Suzana Saoud
Associate Account Director
Gambit Communications
Suzana@gambit.ae
