RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C) a Public Joint Stock Company, is one of the oldest and most dynamic banks in the UAE. Founded in 1976, the Bank underwent a major transformation in 2001, changing its focus from Corporate Banking to Personal and Business Banking. RAKBANK implemented departmental verticals with well-placed experts to specialize in – and branch out into – new fields, whilst maintaining an overlap in functions to ensure we retain and share institutional knowledge and creativity. RAKBANK is a public joint stock company, headquartered in the emirate of Ras Al Khaimah, in the UAE. The Bank is 52.76% owned by the Government of Ras Al-Khaimah and its shares are publicly traded on ADX.
Today, the Bank offers a wide range of personal and business banking services throughout its 27 branches and its portfolio of electronic banking solutions, which include Telephone and Digital Banking. It also offers Sharia-compliant personal and business banking services via its Islamic Banking unit, RAKislamic. RAKBANK is a proud member of the UAE Banking Federation (UBF) and as such, abides by the UBF stipulated, Customer Charter for all member banks. At the same time, RAKBANK is focusing on moving a significant number of functions to digital platforms to support its customers and improve internal processes. These changes will be complemented by an increased focus on sustainability to reduce carbon emissions, developed for internal operations and stakeholders.