Women entrepreneurs launching or growing a business in the UAE can now access a package of banking and business support benefits, including 12 months of waived maintenance fees, through a new initiative from RAKBANK.
The lender’s “She Means Business” initiative waives monthly maintenance fees for up to a year for eligible women founders who open and activate a business account before December 10, 2026.
The package is available to new customers operating as sole proprietors or individual LLCs and includes a zero-balance business account with no minimum balance requirement.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
“We are offering a zero-balance business account, which is a multi-currency account with both Islamic and conventional options, and no fees for the first 12 months,” Vishal Shah, the Managing Director of Business Banking Group at RAKBANK, said.
According to the bank, accounts can be opened digitally, typically within 48 hours and in some cases within four hours.
The account supports transactions in AED, USD, GBP and EUR. Customers will also have access to an interest-bearing account offering returns of up to 2 per cent on AED and USD balances, along with a complimentary debit card and cheque book.
Other benefits include four free international transfers per month, preferential exchange rates for US dollar transactions, payroll processing services, and QR code payments through AANI.
The package also includes access to accounting and payroll software for up to four users, as well as insurance coverage, including workmen’s compensation and public liability, of up to Dh1 million.
The bank has partnered with CrunchMoms, the largest private network for women founders in the MENA region, and will give those enrolled in the program a Dh1,500 discount on the annual CrunchMoms membership.
In addition to banking services, participants will be offered training sessions covering areas such as artificial intelligence, leadership, marketing, and cash flow management.
The launch comes as banks increasingly target small business owners with bundled services to reduce operating costs and simplify administrative tasks for new companies.
Source: Khaleej Times