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|Public Joint Stock Company|
|United Arab Emirates|
|H.E. Mohammad Omran Alshamsi
Peter William England
(Chief Executive Officer)
(Chief Financial Officer)
(Chief Operating Officer)
(Chief Risk Officer)
Abdul Karim Juma
(Director of Islamic Banking)
Saleh Ali Saleh
(Director Of RAK Business)
Mufaddal Khumri Idris
(Director of Credit Cards)
Insurance & Takaful
RAKBANK is the trading name of the National Bank of Ras Al-Khaimah PJSC, a public joint stock company headquartered in the emirate of Ras Al-Khaimah, in the United Arab Emirates (UAE). It is listed on the Abu Dhabi Securities Exchange (ADX) and its shares are publicly traded 
RAKBANK is a retail and business bank in the UAE with assets of AED 34.5 billion at the close of the first half of 2014. The Bank provides conventional and Islamic retail, small business, and commercial banking services through a network of thirty nine branches and 293 ATMs in the UAE as well as its Telephone, Online and Mobile Banking channels. According to The Banker's Top 1000 Arab Bank Rankings in 2014 (published by FT Financial Publishing), RAKBANK is the 1st in the UAE by Return On Assets (ROA) and 17th in the world.
The Bank was amongst the few commercial banks in the UAE which posted profit growth in 2009. Due to the Bank’s withdrawal in 2006 from lending in the construction and civil engineering segments outside of its base Emirate, it has very little residual exposure in those segments and has no exposure to construction involving high-rise towers
At the start of 2013, the Bank launched an Islamic Banking unit, RAKBANK AMAL, amid a flood of investments in the Shariah (Islamic law)-compliant financial sector in the country. The Islamic banking products and services are offered via its subsidiary, RAK Islamic Finance Company. In August 2014, the Bank announced its intention to acquire a majority stake in Ras Al Khaimah National Insurance Company (RAKNIC) following approval from the Bank’s shareholders. Shareholders voted in favour of the Bank buying a majority stake at Dh3.64 per share during its ordinary general assembly held on Monday at the bank’s headquarters in Ras Al Khaimah. The acquisition will be done through an offer to all shareholders of RAKNIC.
Established in the 1970s, the National Bank of Ras Al-Khaimah underwent a major transformation in 2001, with a shift in focus from corporate banking to retail and small businesses.
RAKBANK has a total of four subsidiaries as of 30 September 2014:
|RAK Funding Cayman Limited||99.99%||Cayman Islands|
|RAK Islamic Finance Company Pvt. J.S.C||99.99%||UAE|
|Back Office Support Services (BOSS) FZCO||80.00%||UAE|
|RAK Technologies FZCO||80.00%||UAE|
|Ras Al Khaimah National Insurance Company (PSC)||79.23%||UAE|
The Bank is 52.76% owned by the Government of Ras-Al-Khaimah with shares that are publicly traded. The Board consists of several members of the ruling family of the emirate and businessmen from across the UAE and Kuwait. Ras Al-Khaimah
|The Government of Ras Al Khaimah||52.76%|
|Personal Accounts||Deposits||Business Accounts||Personal Credit Cards||Business Credit Cards||Debit Cards||Prepaid Cards||Personal Loans||Business Loans||Motor Insurance||Life Insurance||Savings Plan||RAKvalue|
|Current Account||Fixed Deposits||Current Account||RAKBANK World MasterCard Credit Card||Titanium Business Credit Card||RAKBANK Standard MasterCard Debit||Bayani Prepaid Card||Personal Loan||RAKfinance Loan and RAKtrade||RAK Insurance||Smart Term Life Insurance||TriPlus||RAKvalue for Accounts|
|Savings Account||Call Deposits||RAKfinance Account||RAKBANK Kalyan Jewellers Card||RAKelite World MasterCard Debit||Bling and Loaded Prepaid Card||Mortgage Home Loan||SME Business Finance||UIC Motor Insurance||FutureInvest||LifeShield||RAKvalue for Credit Cards|
|Fast Saver||Titanium Credit Card||RAKelite Platinum MasterCard Debit||RAKauto Loan||OIC Motor Insurance||RAKlife Insurance||EduCare||RAKvalue for SME|
|RAKsave||RAKBANK nmc MasterCard||Overdrafts & Salary Advance||AXA Insurance||Super Secure|
|RAKvantage||RAKBANK Geant La Carte Credit Card|
|Evantage||Visa Credit Card||SSAS refss will baba help charm|
|RAKvalue for Accounts||Red MasterCard Credit Card|
|RAKvalue for Credit Cards|
|Financial Institutions||RAKBiz Equip|
|Professional and General Equipment|
|RAKelite Premium Banking||RAKinvest||Mututal Funds|
|Amal - Islamic Banking|
|Personal Accounts||Business Accounts||Personal Credit Cards||Business Credit Cards||Debit Cards||Personal Finance||Business Finance||Motor Takaful||Family Takaful Plan||Idikhar Plus (Savings Plan)||RAKvalue||Amal Business Equipment Finance|
|Amal Current Account||Amal Business Current Account||Amal Titanium Credit Card||Amal Business Titanium Credit Card||Amal Debit Card||Amal Personal Finance||Amal Business Finance||Aman Motor Takaful||Hemayati Plus (Family Takaful Plan)||RAKvalue for Accounts||Commercial Vehicles|
|Amal Savings Account||Amal Business Finance Account||Amal Standard Credit Card||Amal Home Finance||Ameen and Ameen Prime||RAKvalue for SME||Construction Equipment|
|Amal Jood Savings Account||Amal Call Investment Deposit||Amal Auto Finance||Hyat Plus and Hyat Superior||Professional and General Equipment|
|Amal Advantage Account||RAKvalue for SME||Amal Salary Advance||Medical Equipment|
|Amal Term Investment Deposit||Amal Service Finance|
|Amal Call Investment Deposit|
|Amal RAKvalue for Accounts|
Also in early 2011, RAKBANK launched its Mobile Banking service, an alternative channel that provides customers with the convenience of conducting banking transactions on the go via mobile phones. RAKBANK made Mobile Banking available on both smart phones and conventional mobiles.
In late 2011, RAKBANK launched RAKBANKdeals.ae, an online platform providing Credit and Prepaid Cardholders with weekly deals offering discounts of 50% and more. In mid-2012, it made RAKBANKdeals.ae into an interactive mobile application.
In mid-2014, RAKBANK launched MobileCash for instant money transfer through mobile phones. The recipient doesn’t even need a bank account – they enter a code and pick up the money from a RAKBank ATM. The recipient doesn’t even need a smartphone either 
RAKBANK has a number of strategies in place to honor its sustainability commitments which reduce the bank’s consumption of paper, toners, and energy. It is also constantly scouting for opportunities to help better society and to offer philanthropic contributions.
- Best Internet Banking Initiative Award at The Asian Banker – Middle East Retail Product Awards 2014 for Click and Collect
- Bank of the Year award at the 2012 Arabian Business Achievement Awards
- Best Marketing Campaign of the Year award at the Middle East Prepaid Awards 2012 for the MasterCard Bling campaign
- "RAKBank posts Dh700m H1 net profit". 22 July 2014.
- "RAKBANK SHARE QUOTE".
- "Top 1000 World Banks".
- "Rakbank to Focus on Abu Dhabi Mortgage Market in 2009". 10 February 2009.
- "RAKBank establishes Islamic unit". 21 January 2013.
- "RAKBank to acquire RAKNIC". 18 August 2014.
- "RAKBANK– Simply Better".
- RAKBANK unveils mobile services, Khaleej Times, 2011-04-11
- "Rakbank launches interactive mobile application". 9 June 2012.
- "RAKBank introduces MobileCash app to make transferring money simple". The National. 19 August 2014.
- "RAKBANK's CSR Initiatives" (PDF).
- "RAKBANK Honoured with Two Prominent Awards by The Asian Banker". 12 May 2014.
- "RAKBANK wins 'Bank of the Year' at Arabian Business Achievement Awards".
- "Rakbank wins ME prepaid award".