Ras Al Khaimah Economic Zone (RAKEZ) tied up with the region’s first fully-digital financial platform Wio Bank. The partnership offers RAKEZ companies of all sizes with access to the latest digital banking solutions, with no paperwork, no minimum balance requirement, and quick set-up timelines.

The agreement was signed by Ramy Jallad, Group CEO of RAKEZ and Prateek Vahie, Chief Commercial Officer of Wio Bank at RAKEZ Compass Coworking Centre. Commenting on the partnership, Jallad said, “We are happy to team up with Wio Bank. Our SME community, in particular, can leverage Wio’s digital banking services for setting up business bank accounts with minimal requirements to carry out their companies’ financial transactions with ease.”

“We always strive to ensure that our partnerships support our clients with their business journey in Ras Al Khaimah and the region. Our efforts are always focused on easing the process for clients and investors to set up and operate their businesses in RAKEZ by exploring digital tools and services,” he added.

Prateek Vahie, CCO of Wio Bank said, “We are pleased to partner with RAKEZ and extend the benefits of Wio’s platform banking capabilities to their SME customers. Our first digital banking application, Wio Business aims to simplify banking for SMEs with a host of personalised financial tools and services, including hassle-free account opening, unlimited virtual cards, foreign exchange rates and much more. We aim to build and nurture a collaborative business banking ecosystem in the UAE, and with partners like RAKEZ, we seek to enhance the SME customer journey further while enabling them to overcome challenges and fortifying their business resilience.”