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Say YES to Business

Filed on July 28, 2021

RAKBANK’s Business Banking model has been designed to assist SMEs in meeting their financial requirements, by offering competitive pricing, express services and value-driven transaction facilities


Small and medium-sized enterprises (SMEs) are the backbone of the UAE’s economy, and in this past year they have proven their resilience by instantly adapting to the environment around them and this includes the almost instantaneous shift in consumer behaviour to digital consumption and spending. Additionally, SMEs exhibited their ability to be the strategic drivers in various industries across the country and are expected to play a much stronger role in the years to come.

In line with RAKBANK’s strategy of placing SME needs and requirements first, the Business Banking model is built to assist SMEs in meeting their financial requirements — providing a holistic suite of products and services. The Business Banking product proposition comprises conventional and Islamic solutions for Business Accounts, Business Loans, POS Finance, Working Capital Finance,

Asset-Backed Finance, Real Estate Finance and Trade Finance to SMEs that are owned and managed by both UAE nationals and residents.

The Bank caters to clients across the SME range, from start-ups to small and medium-sized businesses, offering competitive pricing, express services and value-driven transaction banking services. To offer greater flexibility for customers’ recurring expenses, RAKBANK also offers Business Corporate Cards, with a high credit limit tailored to businesses’ needs. Amongst its diverse product range is RAKstarter, Quick Apply Digital Onboarding, and banking products and solutions that aim to support SMEs from day one and help them achieve their ambitions.

Recognising the importance of creating a flourishing ecosystem and environment for SMEs, RAKBANK’s SMEsouk platform centres around supporting SMEs by connecting them with complementary industries for a comprehensive suite of non-banking value-added services such as licensing, cloud-based accounting solutions by Versify, insurance, trade requirements, RAKBANK Simplify e-commerce and more.

RAKBANK is focused on providing its customers with a “Simply Better” banking experience, through 27 branches across the country, its 24/7 contact centre and webchat services, and via an advanced separate digital banking application and IVR. Additionally, RAKBANK Business Banking has partnered with government and private sector entities to deliver value-added services and financial support specifically for SMEs.

Say YES to Business (https://images.khaleejtimes.com/assets/jpg/KT29508728.JPG)

Dhiraj Kunwar, Managing Director, Business Banking, RAKBANK

Dhiraj Kunwar joined RAKBANK in March 2016 and was appointed as Managing Director of Business Banking in January 2017. Kunwar leads the Business Banking division’s commercial strategy, business development and tactical planning. He has over 19 years of banking experience in a wide range of roles across India and the UAE. Dhiraj has completed the Executive Programme in General Management (EPGM) from MIT Sloan School of Management, Boston, USA. He is a certified associate from the Indian Institute of Banking and Finance and also holds a Master’s degree in Business from The Institute of Chartered Financial Analysts of India. Kunwar currently chairs UAE Banks Federation’s SME Committee, which advises government entities and the Central Bank of the UAE on matters related to banking.

To learn more about RAKBANK Business Banking, visit www.rakbank.ae/business





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