RAKislamic offers you the Amal current account that helps you managing all your day-to-day banking needs with easy, backed by RAKBANK. Know the top benefits.


Business Everyday Banking - Business Current Account | RAKislamic UAE

Business Current Account

Empower your business with great benefits

Business Current Account 

Business Current Account - Convenient Chequebook Facility for AED Accounts

The RAKislamic Business Current Account offers a chequebook facility for AED accounts, providing a convenient and secure method for managing your payments.

 Convenient chequebook facility

<ul>
<li style="font-weight: 400;" aria-level="1">Foreign currency denominated accounts may incur foreign currency services. Applicable foreign currency services will be debited from the available balance. This may cause reducing balance even without customer induced withdrawals.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may close the Account if KYC or identification documents are not updated regularly, or if required as internal policies or upon request from regulatory / judiciary entities.</li>
</ul>

Business Current Account-  Warnings

You are required to:
<ul>
<li style="font-weight: 400;" aria-level="1">Review this document and all other terms and conditions set out in the Account opening application form in detail;</li>
<li style="font-weight: 400;" aria-level="1">Regularly check our website (www.rakbank.ae) for updates;</li>
<li style="font-weight: 400;" aria-level="1">Notify the Bank in writing if there is a change in your contact details, business ownerships, residence status, identification details, financial details or any other material information as declared in the application form; and</li>
<li style="font-weight: 400;" aria-level="1">Always safeguard sensitive banking details such as Account number, chequebook, Debit Card, login ID, passwords, PIN, etc.</li>
</ul>

Business Current Account- Customer Obligations

Business Current Account - Wrapper

For more details about RAKislamic Business Current Account fees and charges, please refer to our <a title="Service and Price guide." href="/globalassets/rakbank/all-pdfs/002---islamic---service-and-price-guides/bilingual/026-j00807-sp-vat-businessaccountservices-islamic.pdf?MOD=AJPERES&amp;CVID=ooceQcO" target="_blank" rel="noopener">Service and Price Guide.</a>

Business Current Account- Fees

Fees

Business Current Account-With Salary Transfer

Apply online

Product application has never been this simple

Apply Online

Business Current Account -Q2?

Business Current Account -Q5

business-1.png

Business Current Account- Terms and Conditions

As of September 2022:
<table>
<thead>
<tr>
<th style="width: 138.993px;">Currency</th>
<th style="width: 116.997px;">Foreign currency service charges (% p.a.)</th>
</tr>
</thead>
<tbody>
<tr style="height: 18px;">
<td style="width: 138.965px; height: 18px;">JPY</td>
<td style="width: 138.965px; height: 18px;">-0.60%</td>
</tr>
</tbody>
</table>
Disclaimer: Foreign currency services are accrued daily and applied monthly.

General Content Table

Business Current Account - Hero Item

Monthly charges for not maintaining minimum average balance per month

Business Current Account - Monthly charges for not maintaining minimum

Business Current Account -Q6

Business Current Account- Eligibility

Eligibility

<ul>
<li>Any company with a valid trade licence to operate within the UAE</li>
</ul>

Business Current Account- Residency

Business Current Account- Option to bundle with RAKvalue SME

Option to bundle with RAKvalue SME

Business Current Account -Q4?

In Page Floating Menu

RAKbooster - FAQ's

Business Current Account - Monthly statements 

You’ll always be in the know when it comes to your transactions. Each month you will receive a monthly statement detailing all your transactions and charges.

Monthly Current Account Statements 

Monthly statements 

Islamic

Business Current Account- Global Tabbed Box

Business Current Account - Hero Small

Table - Divider title

Foreign currency services

Reach us anytime by phone on 600 54 0044 to access our advanced Interactive Voice Response (IVR) Phone Banking service and we&rsquo;ll be happy to answer all your queries.&nbsp;
Whether you&rsquo;re handling utility bill payments or any other services, we&rsquo;re always a phone call away, round the clock, any day of the year.
&nbsp;
&nbsp;

Business Current Account- 24/7 Phone Banking with RAKdirect

24/7 Phone Banking with RAKdirect

Business Current Account - Available in different currencies

We understand that more currency options allow you to take better control of your money. 
That's why we offer Accounts in AED, USD, EUR, and GBP.
 
Expand your international reach with a foreign currency option.

Available in Different Currencies

Available in different currencies

Eligibility & Fees

You’re just a few minutes away from your account

Business Current Account- Kick-start your savings journey

Hero-1920x1080--2-.jpg

Business Current Account - Terms And Conditions

Terms and Conditions

<ul>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms and conditions of the Account with 60 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">If the Account is not used for a period of 1 year, it will be designated as inactive and you will not be able to transact unless activated again.</li>
<li style="font-weight: 400;" aria-level="1">If the Account balance is not sufficient to settle outstanding dues, these will be recovered as and when the Account is funded or alternatively from any other account held by the customer with the Bank.</li>
</ul>

Business Current Account- Key Terms and Conditions

Business Current Account -Q3

Business Current Account- Benefit Cards Container

Minimum average credit balance or equivalent

Business Current Account - Minimum average credit balance or equivalent

Ledger fee: AED 50 per month

Business Current Account- We’re here to help

Business Current Account- Terms and Conditions Notification

You can apply for this product using <a href="https://rakbankonline.ae/Digital/AuthenticationController?FORMSGROUP_ID__=AuthenticationFG&amp;__START_TRAN_FLAG__=Y&amp;__FG_BUTTONS__=LOAD&amp;ACTION.LOAD=Y&amp;AuthenticationFG.LOGIN_FLAG=1&amp;BANK_ID=RAK&amp;USER_TYPE=1" target="_blank" rel="noopener">RAKBANK Digital Banking</a>. Here are the steps: 1.Go to&nbsp;<a href="http://www.rakbank.ae/" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=http://www.rakbank.ae&amp;source=gmail&amp;ust=1687508562826000&amp;usg=AOvVaw02TXDJiNUympHIWw84JK-0">www.rakbank.ae</a> 2.Select the &ldquo;Business&rdquo; from Digital Banking login type 3.Login using your Username &amp; Password 4.Click on "Discover &amp; Apply" 5.Select the desired product

Business - Apply through Digital Banking

Log in to RAKBANK Digital Banking and apply instantly

Apply through Digital Banking

02_Business Current Account .jpg

RAKvalue & benefits applicable

RAKbooster - Help Card

Business Current Account- Wrapper - Tabbed box

The RAKislamic Business Current Account provides an option to bundle with RAKvalue SME (Plus/Max).
This service provides you with banking benefits and unmatched savings, at a nominal fee, for you to boost your business.

Business Current Account - Option to bundle with RAKvalue SME

Islamic Business current Account

Profit rate is not applicable

Profit rate applicable: NO

Business Current Account - Closure of account within 6 months

Introducing our RAKislamic Business Debit Card

Explore the benefits of RAKBANK Islamic Banking's Business Debit Card. Sharia-compliant banking with business-friendly features. Discover more today from RAKislamic.


Easy Shop for Business Debit Card | RAKislamic

Business Debit Card

Discover a debit card that's built for business

RAKislamic Business Debit Card 

24-7-help-centre.jpg

Business Current Account- Dedicated Relationship Manager

Dedicated Relationship Manager

FAQ Accordion Items

Benefits

Tap into global convenience and security 

Business Current Account- Feature Interaction

Monthly maintenance fee: AED 50 

Business Current Account - Wrapper - featureInteraction & BenefitCard

<ul>
<li>21 years old and above</li>
</ul>

Business Current Account- Age

Business Current Account - Low monthly balance 

The RAKislamic Business Current Account is designed to support businesses with more accessible banking options. Maintain a minimum average monthly balance of just AED 25,000 and enjoy the benefits of this tailored account. 

For businesses operating in other major currencies, the minimum average monthly balance is set at an equally competitive rate: 10,000 USD for USD accounts, 10,000 EUR for EUR accounts, and 10,000 GBP for GBP accounts.

Low monthly balance

Not sure about something? Check our frequently asked questions to find what you’re looking for.

FAQ’s Help Card - Islamic

FAQs

Business Current Account - Open for business

Account Features

Get ready to take your business to new heights. Enjoy an accessible, feature-rich business account with a low minimum balance, choice of currencies, attractive profit rates and exclusive financing.

Open for business

learn more

Business Current Account - Free Debit Card

Enjoy seamless transactions and worldwide accessibility with the RAKislamic Business Debit Card. Each authorised signatory can request one free Debit Card, giving you 24/7 global access to your funds through any Mastercard ATM. 
 
This reliable and secure payment solution is designed to support your business needs, empowering you to focus on what matters most – growing your enterprise.

Free Debit Card

Business Current Account - 24/7 Phone Banking with RAKdirect

Business - Apply through the RakMobile

Download the RAKBANK Business App and apply instantly

Apply via the RAKBANK Business app

Current Account

01_Business Current Account .jpg

Scan the QR code to download the RAKBANK Business app from the Apple App Store

Download the RAKBANK Business app!

A powerful yet simple platform that brings payments, payroll, and financial management together in one secure experience.

Scan the QR code to download the app from the Google Play Store

Global - Business - RAKBANK Business

Banking that works around your business

AED, USD, GBP, EUR

Key Fact Statement

Key Fact Statement - Commercial Current Account

Service & Price Guide

Terms & Conditions

Fawrun Term Deposit

Call Investment Deposit

Business Finance

RAKbooster - Relevant links

Your business deserves the very best, so we will provide you with a dedicated Relationship Manager who will advise you on anything related to your business and help you resolve any issues or complaints.

Business Current Account -Q1?

Business Current Account - feature card container

<ul>
<li style="font-weight: 400;" aria-level="1">Chequebook / debit card is issued only for AED denominated accounts. </li>
<li style="font-weight: 400;" aria-level="1">If a cheque issued on the Account is returned, the following may apply:</li>
<ul>
<li style="font-weight: 400;" aria-level="2">Reporting of your Account to AECB</li>
<li style="font-weight: 400;" aria-level="2">Account closure</li>
<li style="font-weight: 400;" aria-level="2">Difficulty in availing Finances or Sharia-compliant credit card from RAKislamic and other banks</li>
</ul>
</ul>

Business Current Account- Risks and Limitations

Monthly Statement/Frequency or as per customer request

Business Current Account - Digital and Phone Banking services

Optimise your banking experience with the RAKislamic Business Online Banking platform, designed exclusively for your Sharia-compliant Business Current Account. This user-friendly platform allows you to access and manage your finances with a few clicks, offering seamless control over your business transactions. Monitor account activity, make informed decisions, and enjoy the convenience of managing your finances from your computer or mobile device. 
Additionally, our dedicated Phone Banking services provide you with the convenience of managing your finances through a simple phone call. Check your account balance, review transactions, or make inquiries – all while on the go.