Ras Al Khaimah Economic Zone (RAKEZ) has signed a memorandum of understanding with Abu Dhabi Islamic Bank (ADIB) to simplify bank account opening procedures for its clients, WAM reported. 

The agreement was signed by Yasser Abdullah Al Ahmed, Head of Corporate Communication at RAKEZ, and Amit Malhotra, Global Head of Retail Banking at ADIB.

Under the partnership, RAKEZ customers will gain streamlined access to a suite of ADIB banking solutions, including comprehensive business accounts and digital banking services tailored to the needs of SMEs and startups.

Ramy Jallad, CEO of RAKEZ, said the collaboration aligns with RAKEZ’s focus on enhancing investor services from establishment to growth. Malhotra added that supporting SMEs remains central to ADIB’s strategy, describing them as “the backbone of the UAE economy.”