RAKBANK is the
trading name of the National Bank of Ras Al-Khaimah PJSC, a public joint-stock company established in 1976 and headquartered in the
Emirate of Ras Al Khaimah
Ras Al Khaimah is the northernmost of the Emirates of the United Arab Emirates, seven emirates that make up the United Arab Emirates. The city of Ras Al Khaimah, abbreviated to RAK or RAK City, is the capital of the emirate and home to most of ...
, in the
United Arab Emirates
The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a Federal monarchy, federal elective monarchy made up of Emirates of the United Arab E ...
. It is listed on the
Abu Dhabi Securities Exchange (ADX).
RAKBANK, officially known as the National Bank of Ras Al Khaimah (P.S.C.)
, is one of the oldest banks in the United Arab Emirates (UAE). RAKBANK operates as a public joint stock company with its headquarters in Ras Al Khaimah, UAE. The bank’s head office is located in the RAKBANK Building on Sheikh Mohammed Bin Zayed Road, Ras Al Khaimah. The government of Ras Al Khaimah holds a majority stake in the bank.
RAKBANK provides digital and personalized services. Operating through 20 branches and offering digital banking solutions, the bank provides personal, wholesale, and business banking services. Its Islamic banking division, RAKislamic, provides Sharia-compliant banking services.
Ownership
The bank is 52.76% owned by the government of Ras-Al-Khaimah. Its board is international.
Products and services
RAKBANK has multiple banking services for personal and business needs, available through 20 physical branches and digital banking platforms. The bank's offerings include Personal, Wholesale, and Business Banking services, offering accessible solutions. Additionally, its Islamic Banking division, RAKislamic, offers Sharia-compliant Personal, Wholesale, and Business Banking services, enabling customers to access banking solutions aligned with Islamic principles through both traditional and digital channels.
The bank also operates RAKNIC, a subsidiary specializing in insurance solutions, with additional financial products offered to its customers.
RAKIslamic, RAKBANK's Islamic banking division, operates under the principles of Islamic Sharia, avoiding interest-based transactions, and providing Sharia-compliant financing and investment options based on profit and loss sharing.
The bank's product Skiply is a digital app developed by RAKBANK, for managing education payments.
Protego Insurance, a 100% subsidiary of RAKBANK, is a platform that enables customers to compare options and features from various providers of insurance for cars, home, health, and travel.
References
External links
Official website
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Companies with year of establishment missing
Banks of the United Arab Emirates
Government-owned companies of Ras Al Khaimah
Companies based in the Emirate of Ras Al Khaimah