RAKBANK SME support boosts financing and business growth in UAE

The Brew News, your leading alt-news source for the latest updates in sports, entertainment, business, tech and IPL straight up from Dubai, UAE. As the leading news portal in the Middle East, we're committed to bringing you latest insights from across the GCC, South Asia and the World.

RAKBANK SME support expands financing, relief measures and incentives to strengthen small business resilience and growth across the UAE.

DUBAI: RAKBANK SME support has been strengthened with new financing, relief measures and growth incentives aimed at helping businesses navigate global uncertainty and maintain momentum. The bank announced a series of initiatives designed to improve access to capital while supporting operational stability for small and medium enterprises across the UAE.

The RAKBANK SME support programme includes a commitment of nearly AED 2 billion in additional credit facilities for both new and existing customers. These offerings cover secured lending, trade finance, working capital and term loans, ensuring businesses can manage cash flow and invest in growth opportunities.

In response to short-term financial pressures, the bank has also introduced targeted relief measures. Around 1,700 trade and working capital customers, with total limits of AED 2.2 billion, have received deferrals. In addition, over 2,300 retail business lending customers with outstanding balances of AED 680 million have benefited from similar support, helping ease financial strain during challenging periods.

The RAKBANK SME support strategy extends beyond financing. The bank continues to collaborate with institutions such as Emirates Development Bank and Dubai SME to expand access to credit through guarantee schemes, particularly for micro and small enterprises.

Business customers also gain from practical incentives, including interest on account balances, waived domestic transfer fees and cashback on foreign exchange transactions. Digital tools such as QR code payments and fast-track account opening within 48 hours further enhance efficiency and ease of doing business.

With SMEs playing a central role in the UAE economy, the initiative aligns with national priorities focused on financial resilience and sustainable growth. By combining financing, relief and digital innovation, RAKBANK continues to position itself as a long-term partner for entrepreneurs across the country.

For in-depth analysis, exclusive stories and comprehensive coverage of the latest happenings in the UAE and beyond, visit our website at www.thebrewnews.com. We value your readership and look forward to bringing you more breaking news and stories.