UAE’s Al Maryah Community Bank (Mbank) has partnered with Ras Al Khaimah Economic Zone (RAKEZ) to streamline and facilitate the account opening process for businesses establishing themselves in RAKEZ via Mbank’s fully integrated digital platform.
All types of companies operating within the RAKEZ business community will be able to open a fully digital business account through Mbank’s corporate platform in less than 48 hours. The process involves only six steps with zero minimum balance and zero monthly fees. Businesses in RAKEZ can now gain access to Mbank’s comprehensive suite of secure, customized, and advanced digital banking solutions.
“We are happy to partner with Al Maryah Community Bank as we continue to expand our network of strategic banking collaborations. This new alliance with Mbank will provide our business community with a variety of banking options that cater to their unique needs,” stated Ramy Jallad, group CEO of RAKEZ.
Greater access to banking services
Once RAKEZ-registered businesses open their corporate accounts through Mbank’s corporate platform, they will automatically gain access to multiple offerings. This includes current and savings accounts, online/mobile banking, the Wages Protection System (WPS), overdrafts, loans, and trade finance, among other services.
“With the addition of Mbank’s cutting-edge digital banking services, we are further enhancing the ease and efficiency of corporate account openings for our clients. It will support the financial agility of businesses and help them thrive in a competitive marketplace,” Jallad added.
Furthermore, Mbank’s corporate platform offers cutting-edge functionalities like real-time account monitoring, customizable alerts and workflows, swift local fund transfers, standing order instructions, and automatic payment tools. These features empower businesses to efficiently manage their financial operations, enhancing cash flow and overall financial performance.
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Virtual assistance
Moreover, RAKEZ-registered business owners can benefit from the Mbank Digital Connect service. They can use the service to connect with Mbank’s customer service agents via secure live video calls for assistance, eliminating the need for in-person branch visits.
“Collaborating with RAKEZ allows us to offer their registered companies a range of products and services, user-friendly, and innovative digital financial solutions. Further, this collaboration is crucial for promoting growth and success in Ras Al Khaimah and the wider UAE community,” stated Suresh Yerraballi, corporate product manager at Mbank.
RAKEZ is a leading business powerhouse and industrial hub in the UAE that offers custom solutions to more than 23,000 free zone and non-free zone businesses. From freelancers and startups to SMEs and industrialists, RAKEZ’s multinational business community flourishes in over 50 sectors.
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