Saud Bin Saqr Foundation and Roya Bank sign a memorandum of understanding to support the business community in Ras Al Khaimah
Ras Al Khaimah, April 20 / WAM / The Saud Bin Saqr Foundation for Youth Enterprise Development concluded a memorandum of understanding with Roya Bank, the first Islamic digital bank in the country, with the aim of enhancing banking services for the business community in a way that contributes to supporting the expansion of the Foundation’s member companies at the local level in Ras Al Khaimah, and externally at the global level during the coming period.
Under the memorandum of understanding, the two parties will cooperate to provide distinguished banking services with added value to member companies of the Saud Bin Saqr Foundation for Youth Enterprise Development and the business community in general in the Emirate of Ras Al Khaimah, thus contributing to enhancing the competitive capabilities for growth and expansion of local and international companies operating in the emirate at the level of local and international markets.
In this regard, Roya Bank provides easy financing solutions with the launch of business banking programs and services for small and medium-sized companies wishing to expand their business in global markets, relying on its network of branches around the world, in addition to facilitating the procedures for opening bank accounts for multinational companies and international companies operating in the emirate.
The memorandum of understanding was signed by Yousef Muhammad Ismail, Chairman of the Foundation’s Supreme Committee, on behalf of the Saud Bin Saqr Foundation for Youth Enterprise Development, and Christoph Koster, its CEO, on behalf of Roya Bank.
Yousef Ismail stressed the Foundation’s commitment to strengthening Ras Al Khaimah’s position as a global business center and opening new horizons for the expansion of small and medium-sized companies, explaining that this partnership will contribute to expanding the scope of small and medium-sized enterprises in the market and accelerating digital transformation.
He pointed out that, under this memorandum, Roya Bank will provide entrepreneurs with programs to expand its customer base, in addition to enhancing its competitiveness and improving the efficiency of its operational operations, noting that this partnership would open broad horizons for growth for local projects, in line with the ambitious targets of Ras Al Khaimah’s economic agenda.
For his part, Christoph Koster stressed that this cooperation is an important step in strengthening relations between the banking sector and institutions that support youth projects, to support the investment environment in Ras Al Khaimah.
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