RAKBANK and Abu Dhabi Global Market (ADGM), the international financial centre of the capital of the UAE, have signed a Memorandum of Understanding (MoU) to provide preferential banking services to ADGM-licensed entities. The agreement facilitates efficient bank account opening for all entities, including SMEs, exchange houses dealing in virtual assets, hedge funds and corporations.
The agreement also covers the provision to offer ADGM incorporated entities to house their USD banking and treasury needs through investment banking services such as structured loans, trade finance, cash management, and supply chain finance.
