Abu Dhabi – Mubahser: National Bank of Ras Al Khaimah (RAKBANK) on Wednesday announced a strategic partnership with Invoice Bazaar for supply chain finance services in the UAE, according to a statement.
This partnership will allow RAKBank to participate as a “Receivable Purchaser” on supply chain finance originated by Invoice Bazaar on its platform.
“This partnership is significant to us as we move towards further digitising our offering to our business clients. This opens up a new channel in SME lending,” CEO of RAKBANK Peter England said.
RAKBANK is the first bank in the MENA region to partner with a fintech platform for enhancing the bank’s offering to the SME clients.
