RAKBANK
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| Company type | Public Joint Stock Company |
|---|---|
| Industry | Banking Financial services |
| Headquarters | Ras Al Khaimah, United Arab Emirates |
Area served | United Arab Emirates |
Key people |
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| Products |
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| Total assets | Dhs. 88.3 billion[1] |
| Website | RAKBANK.ae |
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, in the United Arab Emirates. It is listed on the Abu Dhabi Securities Exchange (ADX).[2]
RAKBANK, officially known as the National Bank of Ras Al Khaimah (P.S.C.),[3] 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
[edit | edit source]The bank is 52.76% owned by the government of Ras-Al-Khaimah. Its board is international.
| Shareholder | Percent owned |
|---|---|
| Government of Ras Al Khaimah | 52.76% |
| UAE citizens | 26.99% |
| Foreign ownership | 20.25% |
Products and services
[edit | edit source]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
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External links
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