RAKBANK and Emirates Growth Fund Sign Strategic MoU to Support UAE SME Growth
RAKBANK and Emirates Growth Fund (EGF) have signed a Memorandum of Understanding (MoU) during the Make It in the Emirates event, marking a strategic partnership aimed at strengthening the UAE’s small and medium-sized enterprise (SME) ecosystem.
The agreement brings together two major institutions focused on SME financing and growth equity, creating a framework to explore future collaboration opportunities in funding access, advisory support, market intelligence, and business growth initiatives.
Under the partnership, both organisations will work together on ecosystem-driven programmes designed to support SMEs and entrepreneurs across the UAE. The collaboration will include customer engagement initiatives, thought leadership content, and the exchange of investment insights and market intelligence.
The agreement also aims to create opportunities for joint participation in initiatives that empower businesses and contribute to the UAE’s long-term economic development agenda.
Raheel Ahmed, Group CEO of RAKBANK, said the bank has supported more than 250,000 businesses across the UAE over the past 50 years, helping entrepreneurs establish and expand their ventures.
He noted that supporting SMEs remains central to RAKBANK’s identity and plays a key role in contributing to the country’s economy and entrepreneurial ecosystem.
Ahmed added that partnerships such as the collaboration with Emirates Growth Fund are important in building a more connected and future-ready SME landscape by improving access to support, insights, and growth opportunities.
Khalifa Al Hajeri, CEO of Emirates Growth Fund, said the fund was established to address gaps in the UAE’s business landscape and highlighted the importance of partnering with institutions that combine banking expertise with growth equity solutions.
He added that the partnership would strengthen the ability to identify promising investment opportunities while helping high-potential SMEs scale and contribute to a more resilient SME ecosystem in the UAE.
The MoU further reinforces RAKBANK’s alignment with national SME priorities and expands the bank’s involvement in investment-led ecosystems that support entrepreneurship, innovation, and sustainable economic growth.
The agreement is expected to serve as a foundation for future collaboration between the two organisations while creating long-term value for the UAE’s SME sector.
