You can open your Current Account in multiple currencies namely AED, USD, GBP and EUR. Simply download RAKBANK APP and open your RAKislamic Current Account.


Open Islamic Current Account From RAKBANK | RAKislamic

RAKislamic Current Account

feature card -Foreign Currency Availability

You can open your RAKislamic Current Account in multiple currencies namely AED, USD, GBP and EUR.
 
The minimum average monthly balance is as low as AED 3,000 which makes maintaining your account easy and convenient.
 
The foreign currency service rate is accrued daily and applied monthly.

Foreign currency availability

Why pay full price when you can save up to 50%?
Enjoy great savings on a range of dining, shopping, travel, entertainment, beauty and more.
Ask for your RAKBANK deal before you pay.

Save up to 50%

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Our free online, mobile, phone and SMS banking services offer you easy and secure banking on the go.

Bank anytime, anywhere  

Instant money transfer

Unmatched benefits

feature card - Chequebook convenience

Your Current Account allows you to manage your payments with a chequebook, available in AED.
 
One free monthly statement is provided detailing all transactions.
 
The amount you deposit with this product is not entitled to any investment profit nor bears any risk whatsoever.

Chequebook convenience

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

Download the RAKBANK Mobile app!

Discover the RAKBANK App and enjoy cutting-edge Digital Banking services at your fingertips. Seamlessly manage your accounts, conduct secure transactions, and enjoy a range of innovative features – all in one user-friendly platform.

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

Standard Current Account - RakMobile

Bank on the go anytime, anywhere

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*A monthly charge of AED 25 will apply if your account falls below the minimum monthly balance.
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For full details of 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/022-sp-vat-retailaccountservice-islamic_1.pdf" target="_blank" rel="noopener">Service and Price Guide.</a>

Limitations

Shop at more than 36 million outlets around the world that accept Mastercard.
You don&rsquo;t have to carry cash when you have a RAKislamic Mastercard Debit Card. Simply Tap &amp; Go&trade; with Mastercard contactless using the latest in state-of-the-art security technology for your peace of mind. Plus, receive an SMS notification after each transaction.
Cash withdrawals are available from over 1 million ATMs globally.

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Open a RAKislamic Current Account online with just a few clicks. Based on the Sharia concept of Qard Hassan, the RAKislamic Current Account offers a seamless and convenient banking experience with 24/7 access to your funds.
 Reap the exclusive perks that come with a RAKislamic Current Account, because your dedication deserves to be rewarded. Apply now and experience hassle-free banking.

Your path towards success

<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 for customers availing such Foreign Currency Services. 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>

Important Information

Use our branch and ATM machine locator to find the nearest RAKBANK facility to you within the Middle East, in just a few clicks. Timings are available too.


RAKBANK Branches And ATM Machines Near Me In UAE |RAKBANK UAE

Branches & ATMs

Eligibility

Terms And Conditions

Terms and Conditions

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Eligibility & Limits   

Open your account in minutes

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AED 50,000-above

Personal - Apply From RakMobile

Download the RAKBANK App and apply instantly

Apply through the RAKBANK App

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RAKIslamic current account - call me back option

Submit your details and we’ll be in touch soon

Call me back

Chequebooks and debit cards are issued only for AED-denominated accounts.
If a cheque issued on the account is returned, the following may apply:
<ul>
<li>Reporting your Account to AECB&nbsp;</li>
</ul>
<ul>
<li style="list-style-type: none;">
<ul>
<li>Account closure</li>
<li style="font-weight: 400;" aria-level="2">The beneficiary can approach the Bank and request for partial payment of the cheque</li>
<li style="font-weight: 400;" aria-level="2">Difficulty in availing financing or credit cards from RAKBANK and other banks</li>
</ul>
</li>
</ul>
<ul>
<li>The debit card is required for accessing digital banking facilities, and hence, for currencies other than AED, you will not be able to access digital banking unless you have another transactional account that provides you with a debit card.</li>
</ul>

Risks & Limitations 

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Introducing the RAKislamic Titanium Debit Mastercard

Debit Cards - RAKislamic Titanium | RAKBANK UAE

RAKislamic Titanium Debit Mastercard

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Terms and Conditions Notification

<ul>
<li>Minimum monthly salary of AED 3,000</li>
</ul>

Residency

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AED 5,000-19,999

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AED 20,000-49,999

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feature card - Free Debit Card 

Why wait for the mail? 
Receive your Virtual Debit Card the moment you sign up!
 
Connect your new Virtual Debit Card to Apple Pay, Samsung Pay, or any of your favourite payment providers, and start using Tap & Go with Mastercard®.

Instant Virtual Debit Card

Free chequebook

Benefits

Your guide to convenience and rewards

Standard Savings Account - Feature Interaction

You are required to:
<ul>
<li style="font-weight: 400;" aria-level="1">Review the Key Fact Statement and all other Terms &amp; Conditions set out in the 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 employment or income details, contact details, residential status, identification details, financial details, or any other material information as declared in the application form</li>
<li style="font-weight: 400;" aria-level="1">Always safeguard sensitive banking details such as account numbers, chequebooks, debit cards, login ID, passwords, PIN, etc.</li>
</ul>

Customer Obligations 

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

FAQ’s Help Card - Islamic

FAQs

Enjoy the benefits of a Joint Account while maintaining your individual spending freedom.
Each Joint Account customer will receive a standard RAKislamic Debit Card. You can then benefit from separate transaction limits set for each of you, subject to the Bank&rsquo;s approval.

Joint Account Cards for two

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<ul>
<li style="font-weight: 400;" aria-level="1">No minimum balance is required for the first 3 months on Saving Accounts.</li>
<li style="font-weight: 400;" aria-level="1">Profit is calculated monthly and paid half yearly for AED/USD/GBP currencies.</li>
<li style="font-weight: 400;" aria-level="1">For Euro, CHF &amp; JPY currencies profit charges are accrued daily and applied monthly</li>
<li style="font-weight: 400;" aria-level="1">A salary transfer letter is required as additional documentation for customers opening the account for salary transfer purpose</li>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms &amp; conditions of the Account on 60 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the profit rates for the Account on 30 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>
<li style="font-weight: 400;" aria-level="1">In line with the UAE&rsquo;s Value Added Tax (VAT) implementation from 1st January 2018, VAT at the rate of 5% will be levied on RAKBANK&rsquo;s fees and charges specified herein, wherever applicable and as per UAE law.</li>
</ul>

Key Terms & Conditions

With Salary Transfer

Joint Account cards for two

Manage your payments with ease

The Bank may close the account if KYC or identification documents are not updated regularly, or if required as internal policies or upon request of regulatory or judiciary entities.

KYC Updates

<ol>
<li>Your Emirates ID</li>
<li>Your Passport with valid residency visa</li>
<li>Any of the following proof of income</li>
</ol>
<ul>
<li>Salary Certificate</li>
<li>Bank Statements</li>
<li>Payslips</li>
<li>Labour Contract</li>
</ul>