Abu Dhabi, UAE— RAKBANK and Emirates Growth Fund (EGF) signed a Memorandum of Understanding (MOU) at Make It in the Emirates, marking a strategic alignment between two of the UAE’s leading institutions in SME financing and growth equity.
The strategic partnership establishes a framework for both organisations to explore future collaboration opportunities focused on strengthening the SME ecosystem through funding access, advisory support, market insights and growth-enablement initiatives.
Through the collaboration, RAKBANK and Emirates Growth Fund will jointly explore opportunities to support SMEs and entrepreneurs through ecosystem-driven initiatives, customer engagement programs, thought leadership content and the sharing of market intelligence and investment insights.
The partnership will also create opportunities for mutual visibility across digital platforms and participation in initiatives designed to empower businesses and contribute to the UAE’s long-term economic development.
Raheel Ahmed, Group CEO of RAKBANK, said, “For the past 50 years, RAKBANK has supported more than 250,000 businesses across the UAE, helping entrepreneurs start, grow, and scale their ambitions. Supporting SMEs has always been central to our identity and remains one of the most important ways we contribute to the UAE’s economy and entrepreneurial ecosystem.
As the UAE continues to strengthen its position as a global hub for innovation and entrepreneurship, partnerships like this play an important role in creating a more connected and future-ready SME landscape. Our collaboration with Emirates Growth Fund reflects a shared commitment to empowering businesses through greater access to support, insights, and growth opportunities, while continuing to deliver banking that combines digital innovation with a human touch.”
Khalifa Al Hajeri, CEO of Emirates Growth Fund, said, “Emirates Growth Fund was established to address a critical gap in the UAE’s business landscape — and closing that gap requires the right partners. Our MoU with RAKBANK brings together growth equity and banking expertise to create tangible pathways for high-potential SMEs to scale, while also strengthening our ability to identify promising growth equity investment opportunities across the UAE. This is not a symbolic agreement; it is a commitment to building the connective tissue of a stronger, more resilient SME ecosystem and a deeper pipeline of future national champions.”
The MOU further strengthens RAKBANK’s alignment with national SME priorities and deepens the Bank’s engagement within investment-led ecosystems that support entrepreneurship, innovation and sustainable economic growth.
This agreement represents a foundation for future collaboration between the two organisations, creating meaningful opportunities to deliver long-term value to the UAE’s SME sector.
SOURCE: MEDIA RELEASE / SUPPLIED CONTENT WITH IMAGES
