RAKBANK and Emirates Growth Fund Sign Agreement to Explore SME Financing Support in the UAE
RAKBANK and Emirates Growth Fund (EGF) have signed a strategic agreement to explore opportunities for expanding financing and advisory support for small and medium-sized enterprises (SMEs) in the UAE. The partnership was announced at the Make It in the Emirates forum and is intended to strengthen the country’s SME ecosystem through collaborative initiatives.
According to the announcement, the agreement establishes a framework for the two organisations to work together on improving access to funding, sharing market insights, and developing growth-enablement programmes. The collaboration will also examine ecosystem-driven initiatives and customer engagement programmes designed to support the development of high-potential businesses.
Focus on SME Growth and Access to Capital
SMEs play a central role in the UAE economy, and the new agreement reflects continued efforts to improve support for this segment. Through the partnership, RAKBANK and EGF aim to identify practical ways to help SMEs access financing and advisory services that can support business expansion.
The agreement also highlights the role of data and market intelligence in shaping more targeted support for businesses. By combining banking expertise with growth equity perspectives, the two entities expect to create pathways that can help SMEs scale more effectively.
Leadership Commentary
Raheel Ahmed, Group CEO of RAKBANK, said supporting SMEs has long been a key part of the bank’s identity and an important contribution to the UAE economy.
“Supporting SMEs has always been central to our identity and remains one of the most important ways we contribute to the UAE’s economy,” Ahmed said. “Our collaboration with EGF reflects a shared commitment to empowering businesses through greater access to support, insights, and growth opportunities.”
Khalifa Al Hajeri, CEO of Emirates Growth Fund, said the fund was created to address a critical gap in the UAE business landscape and that strong partnerships are necessary to close that gap.
“Emirates Growth Fund was established to address a critical gap in the UAE’s business sector, and closing that gap requires the right partners,” Al Hajeri said. He added that the agreement brings together growth equity and banking expertise to create tangible pathways for high-potential SMEs to scale, while also strengthening the identification of promising growth equity investment opportunities across the country.
Broader Collaboration Possibilities
The agreement opens the door to joint programmes that could support SMEs beyond financing alone. The planned areas of cooperation include advisory support, market intelligence sharing, and broader ecosystem initiatives that may help businesses improve their readiness for growth and investment.
While the announcement does not include financial terms or a timeline for specific initiatives, it signals a coordinated effort between a banking institution and a growth-focused fund to address financing needs in the UAE’s SME sector.
Industry Analysis
The partnership reflects a wider trend in the UAE toward strengthening SME support through collaboration between financial institutions and investment platforms. For SMEs, access to funding remains only one part of the challenge; advisory support, strategic insights, and ecosystem access can also influence long-term growth outcomes.
By combining banking infrastructure with growth equity expertise, RAKBANK and EGF may help improve the quality of support available to emerging businesses. If the collaboration leads to new programmes or financing pathways, it could contribute to a more connected and supportive environment for SMEs seeking to expand in the UAE market.
