This innovative initiative, the first of its kind among UAE licensing authorities, was established through a partnership agreement signed by Koshima Co-Founder and AI Business Consultant Rob Hayes and RAKEZ VAS Director Kutyba Alissa at the Compass Coworking Centre.

Through this partnership, Koshima will offer a suite of services that bridge the gap between traditional AI training and real-world application. This includes customised AI enablement workshops for RAKEZ clients tailored to specific roles, tasks and activities within businesses, ensuring participants apply AI skills immediately to deliver tangible value. All enablement sessions are audited and accredited, providing participants with certifications upon completion. Furthermore, Koshima’s consulting services offer a results-driven approach to AI adoption, helping businesses integrate AI with measurable business impact to strengthen their operations and drive measurable growth.

RAKEZ Group CEO Ramy Jallad underscored the importance of the partnership, stating: “We are thrilled to partner with Koshima, equipping our clients with the advanced technological tools and expertise required to excel in a competitive global marketplace. This partnership demonstrates our economic zone’s dedication to integrating cutting-edge AI solutions into our clients’ business operations, perfectly aligning with our strategic vision of fostering innovation and driving digital transformation.”

Koshima Co-Founder Rob Hayes highlighted the impact of the collaboration: “By partnering with RAKEZ, we are ensuring that businesses have immediate access to AI solutions that are both practical and strategic. Together, we are bringing hands-on training and consulting services that cuts through the hype and empowers companies to make deliberate, purposeful and measurable use of AI to increase workforce productivity, enhance business process efficiency and enable businesses for accelerated growth.”

This collaboration with Koshima provides RAKEZ clients with crucial AI skills and consulting that are specifically designed to be practical and role-specific, ensuring swift integration and application of AI within their daily operations. The immediate availability of these services enables companies to begin and progress through their AI transformation journey swiftly, positioning them to boost productivity, increase efficiency and secure a competitive edge.

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The RAKEZ team connected with companies across the construction, automotive, F&B, pulp & paper (P&P), and building materials sectors, highlighting the ease of doing business, cost-effective solutions, and Ras Al Khaimah’s strategic location as a hub for reaching markets in the Middle East, Africa, and South Asia.

As part of its engagement strategy, RAKEZ also targeted key business councils, industry associations, and other multipliers to maximize its outreach and build strong connections with Brazilian enterprises looking for expansion opportunities in high-growth markets.

Brazilian businesses are increasingly looking beyond their traditional expansion routes within the Americas, seeking opportunities in high-growth markets like the Middle East. The UAE is Brazil’s second-largest trade partner in the region, with bilateral trade surpassing USD 4.3 billion in 2023. This growing economic relationship is driving more Brazilian companies to explore expansion opportunities in the UAE, looking for competitive business environments and strong global connectivity.

Commenting on the roadshow’s success, Ramy Jallad, Group CEO of RAKEZ, said: “Brazil and the UAE share a strong and growing economic relationship, opening doors for greater collaboration. Many Brazilian companies are now looking beyond traditional markets for expansion, and Ras Al Khaimah presents a compelling opportunity with its cost-effective, business-friendly environment and strategic access to high-growth regions. Through this roadshow, we engaged with key industry leaders, demonstrating how RAKEZ’s tailored solutions can support their global ambitions.”

RAKEZ has long engaged with Brazilian businesses, and this latest roadshow further solidified connections with industry leaders, showcasing Ras Al Khaimah’s competitive advantages. With a growing number of companies with Brazilian shareholders, interest in the emirate as a business hub continues to rise. The roadshow played a key role in strengthening relationships and positioning Ras Al Khaimah as an attractive destination for businesses looking to diversify their global footprint.

Committed to facilitating international business expansion, RAKEZ will continue exploring new markets and fostering opportunities for collaboration worldwide.

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The session featured RedHolt CEO Chris Redmond, who shared his journey of scaling an agency with minimal marketing spend, proving that creativity and strategic thinking can outperform large budgets. Meanwhile, Social Station Founder Anas Almarie also provided attendees with powerful marketing tools and strategies to maximise visibility and engagement while keeping costs low.

Attendees gained valuable insights into leveraging free and low-cost marketing channels, building strong networks with the right connections, and ensuring their digital presence is optimised for success. Discussions emphasised the importance of establishing a clear business purpose, strategically expanding professional networks, and investing in foundational digital assets such as websites and search visibility.

RAKEZ Group CEO Ramy Jallad highlighted the significance of such knowledge-sharing initiatives, stating: “At RAKEZ, we are committed to empowering our business community with the tools and strategies they need to thrive. Impactful marketing isn’t about how much you spend—it’s about smart, purposeful execution. By bringing leaders to share their expertise, we’re helping entrepreneurs adopt practical strategies that drive real results.”

Through regular initiatives like these, RAKEZ continues to equip its community with actionable insights and practical tools to drive sustainable success.

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The event, hosted at Compass Coworking Centre, featured expert-led sessions from Raizor Vice President–AI Solutions Savio Tovar Dias, and Koshima.ai founders Carlo Pepe and Rob Hayes. These industry leaders demonstrated practical AI tools and strategies, emphasising how small businesses can use smart automation to improve efficiency and effectiveness economically.

RAKEZ Group CEO Ramy Jallad commented on the event’s success, saying, “This session has set a robust tone for our 2025 Growth Series. It was inspiring to see so many entrepreneurs engaged and ready to apply what they’ve learned about affordable AI solutions. At RAKEZ, we are dedicated to empowering businesses by making such transformative technologies accessible to all, aligning with our mission to support business growth across all sectors.”

The attendees of the event walked away with valuable insights into identifying and implementing the right AI tools for their operations, enabling them to make informed decisions that drive their businesses forward. Additionally, the Growth Series events foster a vibrant networking environment, enhancing community connections among entrepreneurs.

As the Growth Series 2025 progresses, RAKEZ is committed to offering ongoing valuable learning opportunities that support the entrepreneurial community in leveraging cutting-edge technologies for sustainable business growth.

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These MoUs were signed in the presence of His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah, during the ‘UAE-India: Partnership for Enduring Prosperity’ forum.

The agreement with CII focuses on facilitating the growth of Indian businesses by providing tailored support, hosting industry events, and promoting Indian enterprises within the RAKEZ ecosystem. Meanwhile, the MoU with MIDC emphasises strengthening trade ties between Ras Al Khaimah and Maharashtra by fostering investor connections, promoting a business-friendly environment, and collaborating on mutually beneficial projects.

RAKEZ, which already hosts over 7,000 Indian investors operating across diverse sectors, highlighted its pivotal role in empowering Indian businesses, which span industries such as manufacturing, trade, technology, and services, benefiting from RAKEZ’s strategic location, comprehensive infrastructure, and supportive business environment.

The forum featured a key plenary session titled ‘Make in India & the Emirates – Thriving in a Complementary Manufacturing Ecosystem,’ moderated by RAKEZ Group CEO Ramy Jallad. The session brought together prominent panelists to explore topics such as the impact of the Comprehensive Economic Partnership Agreement (CEPA), green manufacturing trends, the role of advanced technologies like AI and IoT, and the evolving global value chains in manufacturing.

Speaking at the forum, Jallad commented: “The UAE and India share a long-standing partnership rooted in trust and mutual growth. Ras Al Khaimah, with its business-friendly environment and strategic location, is perfectly positioned to support Indian businesses looking to thrive on a global scale. These MoUs are a significant milestone in our efforts to enhance collaboration, foster innovation, and create opportunities across borders. They also contribute to reinforcing Ras Al Khaimah’s position as a key hub for Indian companies seeking global expansion.”

The event also celebrated the launch of the Global Maharashtra Business Forum Chapter in Ras Al Khaimah, further solidifying the emirate’s position as a gateway for Indian companies to expand their reach globally.

With its ongoing efforts to foster cross-border partnerships, particularly with India, RAKEZ continues to solidify its role as a pillar of Ras Al Khaimah’s economic development. By supporting Indian businesses, facilitating trade and investment opportunities, and driving collaboration through strategic initiatives with several Indian business forums and organisations, RAKEZ is actively contributing to the UAE’s vision for sustainable growth and its position as a global hub for innovation and economic progress.

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As part of the agreement, DHL Express will roll out a tailored programme for RAKEZ clients, enabling them to access credit accounts and enjoy special incentives, including a three-month onboarding benefit. Additionally, SMEs will be supported by a dedicated contact person providing enhanced sales and after-sales support.

RAKEZ Group CEO Ramy Jallad said, “Our collaboration with DHL Express is a key addition to the suite of comprehensive business support we provide to the SMEs in our community. DHL’s world-class logistical solutions will help boost their operational efficiencies – contributing to their upscaling and expansion plans with greater ease. It is a part of our ongoing efforts to empower businesses in RAKEZ by providing seamless access to global markets and enhancing their supply chain management.”

DHL Express UAE Managing Director Mahmoud Haj Hussein commented, “At DHL, SMEs are central to our focus, and we are committed to empowering them with the tools and solutions they need to thrive. This partnership with RAKEZ allows us to offer world-class logistics solutions, helping SMEs optimise operations and scale efficiently. We are keen to support their growth and long-term success.”

The collaboration also encompasses joint marketing initiatives, which will include webinars, media activities, and social media campaigns to raise awareness about the new services available to RAKEZ clients. This strategic partnership is expected to significantly contribute to the ease of doing business within the RAKEZ ecosystem, reinforcing its position as a preferred base of SMEs to set up and grow.

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As startup momentum has gained currency in the UAE, what specific initiatives is RAKEZ implementing to support startups in Ras Al Khaimah?
SMEs and startups are an essential part of the UAE’s economic engine, contributing around 63.5% to the non-oil GDP and driving innovation across sectors. With projections of up to 1 million SMEs by 2030, we’re focused on creating an environment at RAKEZ that helps these businesses thrive and grow.

To support this momentum, we’ve introduced flexible business packages that lower entry barriers, allowing SMEs and startups to get off the ground without heavy costs. But we know startups need more than just a license—they need ongoing support. That’s why we’ve built a lineup of events, from workshops and seminars to networking forums, where entrepreneurs can connect with investors, industry experts, and like-minded peers. These events aren’t just gatherings; they’re key opportunities for startups to gain market insights, broaden their networks, and explore potential funding channels.

In addition to this, we offer a range of value-added services, providing specialized consultations in areas like legal, marketing, and administration to help founders navigate the complexities of scaling up. And we know how important collaboration and community are, which is why we established the Compass Coworking Centre. It’s more than a workspace—it’s a dynamic hub designed for entrepreneurs to work, network, and innovate side by side. With modern amenities and a flexible setup, Compass provides a space where creativity and collaboration thrive.

Our focus is on making market entry as seamless as possible, so entrepreneurs can concentrate on what they do best: innovating and making a difference. At RAKEZ, we’re building more than just business solutions; we’re creating a thriving ecosystem where startups can play an active role in shaping the UAE’s diverse and dynamic economy.

How does RAKEZ collaborate with other organizations or government entities to enhance the country’s startup ecosystem?
Collaboration is essential to RAKEZ’s mission of building a strong, sustainable startup and SME ecosystem in the UAE. By partnering with key organizations and government entities, we create an environment where startups and SMEs have access to the resources, expertise, and support needed to thrive.

Our partnerships with leading banks—including RAKBANK, Mashreq, Emirates NBD, and others—provide streamlined financial solutions for startups and SMEs. These banks offer easy account set-up, dedicated advisors, online payment services, and financial support packages, simplifying the set-up process and helping new businesses operate smoothly. In the e-commerce space, we work with platforms like Amazon UAE and Tradeling to empower RAKEZ-based businesses with digital tools, access to a vast customer network, and resources for scaling online. Additionally, our collaboration with Emirates Post offers startups bundled logistics, financial, and tech support, allowing them to streamline their operations and focus on growth.

On the regulatory front, RAKEZ works with government bodies such as the RAK Department of Economic Development, Chamber of Commerce, Emirates Development Bank (EDB), Etihad Credit Insurance (ECI), RAK Courts, Customs Departments, RAK Civil Defense, and RAK Immigration. These partnerships ensure that our businesses have a robust support network to navigate regulatory processes with ease, fostering a smooth market entry and operational efficiency.

We also create valuable networking and learning opportunities through our events, forums, and workshops, where entrepreneurs can connect with investors, potential partners, and industry experts. These gatherings go beyond traditional networking by fostering collaboration, sharing insights, and strengthening the startup community in Ras Al Khaimah.

These are just a few of our key partnerships, and we’re continually expanding our network to bring even more resources and opportunities to our business community. Our commitment is to build a thriving ecosystem that supports entrepreneurs every step of the way.

What resources and facilities do RAKEZ provide to help startups scale their operations?
At RAKEZ, we provide startups with resources and facilities that truly drive growth. Our Compass Coworking Centre serves as a collaborative space where entrepreneurs can work flexibly and connect with a dynamic community of peers. It’s more than just a workspace—it’s where ideas flourish, partnerships form, and innovation thrives.

Our training programs cover essential topics such as business development strategies, client relationship management, social media mastery, financial planning and budgeting, IT and digital solutions, and sales techniques. These sessions address practical challenges, equipping entrepreneurs with skills crucial for long-term success.

We also offer extensive networking opportunities, allowing startups to connect not only with like-minded entrepreneurs but also with professionals from other sectors. Through our events, workshops, and mentorship programs, entrepreneurs gain valuable industry insights, expand their networks, and create connections that can lead to potential partnerships and collaborations.

For companies needing physical space to grow, RAKEZ provides scalable warehouse and office solutions. Our warehouses meet logistical needs, while our flexible office spaces allow teams to expand smoothly as they grow.

Each of these resources is designed to make scaling up as seamless as possible, empowering startups to focus on what they do best. With the right facilities, training, and connections, businesses at RAKEZ have everything they need to tackle new challenges and seize opportunities in the UAE’s thriving market. 

How does RAKEZ plan to attract international startups to establish a presence in Ras Al Khaimah?
We’re all about creating the ideal environment for international startups to establish and thrive in Ras Al Khaimah. At RAKEZ, we understand what it takes for a startup to enter a new market smoothly, so we focus on making setup straightforward, affordable, and growth-oriented.

To make RAKEZ even more attractive to global entrepreneurs, we offer a range of incentives that truly set us apart—100% foreign ownership, zero income tax, and a simplified setup process. These benefits give startups the freedom to operate and grow without the usual complexities. We actively promote these advantages through international roadshows, trade missions, and partnerships with foreign trade bodies, so that startups worldwide know about the unique opportunities RAKEZ offers.

Our recent participation in Expand North Star, one of the world’s largest startup events, was part of this mission to connect directly with the global startup community and show how we’re the perfect launchpad for growth in the UAE.

Ras Al Khaimah’s strategic location offers another competitive edge, providing startups access to high-demand markets across the Middle East, Africa, and Asia. Combined with our attractive pricing models, RAKEZ is an ideal hub for startups looking to enter and scale in the region. 

How does RAKEZ address the unique challenges faced by startups in the region, particularly in terms of funding and access to markets?
We at RAKEZ understand that access to funding and markets are two of the biggest challenges startups face, especially in a competitive region like ours. That’s why we’ve built strong partnerships and programs that specifically address these needs, giving startups a solid foundation for growth.

To support funding, RAKEZ actively connects startups with the Emirates Development Bank (EDB), a key partner in financing entrepreneurial ventures across the UAE. Through EDB, startups have access to tailored financial support, including loans and growth funding, designed to help them scale their operations.

When it comes to market access, RAKEZ’s location in Ras Al Khaimah offers startups strategic connectivity to high-demand markets across the Middle East, Africa, and Asia. We also work with leading e-commerce platforms, such as Amazon UAE, Tradeling and many others, to help startups establish a strong digital presence and reach customers online. Our international roadshows and trade missions give startups a hands-on opportunity to explore new markets, connect with local trade bodies, and build global partnerships.

Through funding connections, strategic location, and market entry support, RAKEZ provides startups with the essential tools to overcome challenges and succeed in the region’s fast-paced business landscape.

Can you discuss any upcoming programs or events RAKEZ hosts to foster innovation and entrepreneurship?
We’re constantly introducing new programs and events to spark innovation and support entrepreneurship here in Ras Al Khaimah. One of our key initiatives includes a series of industry-focused workshops and networking events that bring together thought leaders, investors, and successful entrepreneurs from across the region. These gatherings are designed to equip startups with valuable insights, foster collaboration, and create meaningful B2B opportunities.

We recently launched the RAKEZ Growth Series, an ongoing program covering essential topics like scaling strategies, digital transformation, and financial management tailored specifically for startups and SMEs. The response has been fantastic, and we’re excited to expand this series with even more sessions and fresh topics to support our clients’ evolving needs.

There’s also a lot more in the pipeline, including larger events and sector-specific programs, and we’ll be announcing these soon. We’re committed to providing our business community with a dynamic calendar of resources and events to ensure they have everything they need to thrive.

How does RAKEZ incorporate feedback from the startup community to refine its support initiatives?
Listening to the startup community is essential to how we shape and enhance our support initiatives. We actively gather feedback from entrepreneurs through regular sessions, surveys, and one-on-one meetings, giving them an open platform to share insights on their experiences—from business setup to mentorship programs and events. This input enables us to make real-time improvements and ensures our offerings stay aligned with what startups truly need.

For us, feedback isn’t just valuable—it’s the foundation of our approach. By staying closely connected to the challenges and goals of our startup community, we ensure that RAKEZ remains a responsive, supportive environment where entrepreneurs can thrive. Every piece of feedback we collect helps us refine our services, improve operational efficiency, and tailor support packages that grow alongside our clients’ ambitions.

What is RAKEZ’s vision for the startup ecosystem in Ras Al Khaimah over the next 2-3 years?
We’re on an exciting journey at RAKEZ to establish Ras Al Khaimah as a premier hub for innovation and entrepreneurship in the region. Our goal is to expand our startup ecosystem by drawing in more local and international startups, strengthening our infrastructure, and building deeper connections with global accelerators and investors.

Building on the incredible response to our current Compass Coworking Centre, I’m thrilled to share that we’re moving forward with Compass Coworking Centre 2 (CCC2)—a state-of-the-art facility that will be around three times the size of the original. Located right between Marjan Island and Al Hamra in the business and beach district, CCC2 is all about creating an inspiring, sustainable space for innovators. It’s LEED-certified, reflecting our commitment to sustainability, and it’ll feature expanded event spaces, flexible office layouts, and amenities like cafés, retail spaces, and even a podcast recording studio.

Beyond CCC2, we’re also adding 20,000 square meters of private office space and upgrading another 20,000 square meters to meet the demand for dedicated work environments. These spaces are designed to give startups and growing businesses the flexibility they need as they scale.

We’ll also continue to support our community with regular sessions, workshops, and events to keep startups up to date on industry trends and best practices. Our goal is to create a thriving, sustainable ecosystem where entrepreneurs have access to everything they need to succeed. We’re building an environment right here in Ras Al Khaimah that’s primed for growth, collaboration, and innovation—and we can’t wait to see what’s next.

How does RAKEZ leverage technology to improve services for startups?
Technology is at the heart of how we’re enhancing the RAKEZ experience for startups. We know that time is everything for entrepreneurs, so we’re focused on creating digital solutions that make business setup and management as seamless as possible.

One of our standout offerings is the Instant License, which allows startups to get their business up and running in record time. With just a few clicks, entrepreneurs can secure their license online, cutting down on processing time so they can dive straight into their business activities without delay.

We’re also integrating AI into our processes to enhance efficiency and personalize the experience for our clients. AI-driven insights help us anticipate the needs of startups, automate routine tasks, and streamline administrative processes. This means faster responses, more tailored services, and a smoother journey from setup to scale-up.

Behind the scenes, we’re using data insights to understand what our clients need most, so we can keep refining our support and introducing services that genuinely make a difference. By embracing technology, we’re building a dynamic, responsive environment that empowers startups to focus on what really matters: growing and innovating. 

What advice do you have for entrepreneurs looking to establish their businesses in Ras Al Khaimah?
For any entrepreneur looking to establish in Ras Al Khaimah, my advice is to approach it strategically and stay open to the unique advantages this place offers.

First, understand your market deeply. Successful businesses are built around real demand, so take the time to understand your target audience, their needs, and what you can offer that truly adds value. Ras Al Khaimah is an incredibly diverse market with access to the wider Middle East, Africa, and Asia, so think about how your product or service can resonate across these regions.

Second, location is everything. Ras Al Khaimah combines a business-friendly regulatory environment with strategic positioning. By choosing RAKEZ, you’re not only benefiting from our flexible setup options but also our support infrastructure, designed to help startups thrive right from the start.

Adaptability is key—the market can shift fast, and staying responsive to trends can keep you ahead of the curve. We encourage startups here to stay agile and leverage our mentorship and networking programs, which keep entrepreneurs connected to new developments and resources.

Also, invest in a strong team. Talent is a critical driver of growth, so bring on people who share your vision and expertise. At RAKEZ, we offer visa and relocation support to make it easier to build that solid team.

Finally, always think long-term. Keep an eye on future trends, and don’t be afraid to innovate. Whether it’s through adopting sustainable practices or integrating new technology, positioning your business for the future will pay off. At RAKEZ, we’re here to support you every step of the way, with facilities and resources designed for growth.

Ras Al Khaimah is a place where you can grow sustainably, connect globally, and build something impactful. Take advantage of all it has to offer, and don’t hesitate to lean on our community—we’re here to help you succeed.

How do you measure the success of your initiatives aimed at supporting startups?
At RAKEZ, we measure the success of our initiatives by focusing on both the individual growth of startups and the overall strength of the startup ecosystem in Ras Al Khaimah. A key indicator is the number of startups registered with RAKEZ, along with their growth and survival rates beyond the crucial early years. The fact that a significant portion of our business community is made up of SMEs and startups is clear proof that our support and infrastructure align well with the needs of emerging ventures.

Engagement within our programs is another major metric. By tracking participation levels in our events, workshops, mentorship sessions, and networking platforms, we can gauge the relevance and impact of these resources on our community. High engagement shows us that we’re providing real value, and it also helps us fine-tune our offerings to better support startups.

Direct feedback from our clients is also essential. Through regular surveys, feedback sessions, and one-on-one discussions with founders, we gather insights into what’s working well and what could be improved. This feedback loop allows us to continuously adapt and evolve to meet the needs of our growing startup community.

Finally, we look at the broader economic contributions of our startups in Ras Al Khaimah. As these businesses expand, create jobs, and introduce new ideas, they play a vital role in strengthening the local economy. For us, success means not just helping startups grow individually but fostering a vibrant, thriving business environment that drives Ras Al Khaimah forward.

In the end, seeing our startups thrive and actively contribute to the local economy is the strongest validation of our efforts and a testament to the value of RAKEZ’s ecosystem.

Are there any partnerships with educational institutions to promote entrepreneurship among students in the region?
Absolutely, supporting the next generation of entrepreneurs is something we’re truly passionate about at RAKEZ. We’ve partnered with educational institutions and organizations like the Abdulla Al Ghurair Foundation and Skyrize Partners to deliver impactful programs that build real-world skills among students and young professionals.

Through initiatives like the Nomu Al Ghurair program, we’re empowering Emirati and Arab women with essential leadership skills, career guidance, and hands-on project experience. It’s all about bridging the gap between academic learning and practical business skills, so these young talents are ready to step into the entrepreneurial world with confidence.

In addition, we welcome students from various universities and colleges for internships at RAKEZ, not only to give them insight into different career paths but also to introduce them to the world of business setup and entrepreneurship. These experiences offer students a firsthand look at what it takes to launch and grow a business, sparking that entrepreneurial mindset early on.

For us, these initiatives are more than just programs—they’re an investment in the future of Ras Al Khaimah’s business community. By nurturing young talent, we’re building a foundation for a vibrant, innovative, and opportunity-rich ecosystem.

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App-based Islamic financial service provider, ruya, allows users to seamlessly open and manage their corporate bank accounts, adhering to Islamic finance principles directly through their innovative app. Through this collaboration, RAKEZ clients can experience the convenience of digital-first Sharia-compliant banking along with other significant benefits such as the ease of setting up their accounts quickly and efficiently, without the burden of hidden costs or a minimum balance requirement. The bank’s offering also includes both current and savings account options in AED, which aligns with RAKEZ’s commitment to providing flexible, customer-centric banking solutions.

“We’re pleased to partner with Ruya to expand the range of banking solutions available to our business community,” said Ramy Jallad, RAKEZ Group CEO. “This collaboration is especially valuable to clients who seek Islamic financial services aligned with their principles. With the innovative Ruya app, we’re providing easier access to tailored banking options that support the efficiency and growth of businesses within RAKEZ.”

Commenting on the partnership, Christoph Koster, CEO of ruya, said, “We are very excited about our partnership with RAKEZ as it highlights our commitment to empowering the community through business growth. By providing Shariah-compliant financial solutions to businesses operating in RAKEZ, we aim to contribute to the region’s vibrant business ecosystem. This collaboration will also help drive a more inclusive and prosperous business environment for all.”

Alongside enhancing the financial services offered by RAKEZ through its partnership with ruya, the economic zone continues to provide steady support to meet the diverse needs of its clients through customised, cost-effective solutions that deliver optimal value.

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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 six simple steps, in less than 48 hours, with zero minimum balance, and zero monthly fees; gaining access to a comprehensive suite of secure, customized, and advanced digital banking solutions.

RAKEZ is a leading business powerhouse and industrial hub in the UAE that offers customizable 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.

Once RAKEZ-registered companies open their Corporate Accounts through Mbank’s Corporate Platform, they will automatically gain access to a diverse array of offerings including Current & Savings Accounts, Online/Mobile Banking, the Wages Protection System (WPS), Overdrafts, Loans, Trade Finance, among other services. Furthermore, the Corporate Platform offers advanced functionalities like real-time account monitoring, customizable alerts and workflows, swift local fund transfers, standing order instructions, and automated payment tools. These features empower businesses to efficiently manage their financial operations, enhancing cash flow and overall financial performance.

Moreover, business owners can benefit from the advanced Mbank Digital Connect service, whereby they can connect with Mbank’s customer service agents via secure live video calls for assistance, eliminating the need for in-person branch visits.

Ramy Jallad, Group CEO of RAKEZ, said: “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. 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.”

Regarding the partnership, Humaid Al Attar, Head of Wholesale Banking at Al Maryah Community Bank, stated: “We are thrilled to announce our collaboration with RAKEZ today. This partnership marks a significant step as we broaden our network and extend our services throughout the Emirates. At Mbank, our mission is to support the community, and we are excited to assist entrepreneurs in RAK by streamlining their corporate account openings and providing them with products and services designed to enhance their businesses and help them achieve their maximum potential”.

Suresh Yeraballi, the Corporate Product Manager at Mbank, stated: “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”.

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His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, welcomed representatives from Ras Al Khaimah Economic Zone (RAKEZ) and a high-level delegation from the AmCham Dubai led by US Ambassador Martina Strong, included members of the business council as well as representatives of some of the top American businesses in the UAE. The MoU was signed by AmCham Dubai Chairman Sammy Bousaba and RAKEZ Group CEO Ramy Jallad.

Commenting on the MoU, Bousaba said, “AmCham Dubai is dedicated to strengthening the robust ties between American businesses and Ras Al Khaimah. This MoU represents our commitment to expanding opportunities for American enterprises to thrive in the emirate. We are focused on deepening American engagement in Ras Al Khaimah, in alignment with the emirate’s strategic goals and its vision for continuous growth.”

Similarly, Jallad said, “This strategic MoU with AmCham Dubai will further cement our ties with the growing American business community. With nearly 1,000 American investors already established at RAKEZ, we remain dedicated to fostering an enabling environment for US companies and highlighting Ras Al Khaimah’s role as a dynamic hub for international investment. We look forward to facilitating more American enterprises in their journey to expand in the Middle East and beyond, leveraging RAKEZ’s world-class facilities and services.”

As part of the collaboration, AmCham and RAKEZ will work closely to host joint business events in Ras Al Khaimah and Dubai, provide tailored business support services to American firms, and facilitate visits from US business delegations to the emirate, to showcase Ras Al Khaimah as a leading global business hub.

Ras Al Khaimah is already a prime location for major US companies such as Guardian Glass and Caresoft, both headquartered out of Illinois, and the recently announced Wynn Resort, which is an investment close to USD 4 billion.

This collaboration with AmCham Dubai, a prominent member of the Global Network of American Chambers of Commerce, highlights the commitment of both organisations to promote sustainable business development and strengthen economic ties, benefiting Ras Al Khaimah and the wider Middle East region.

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