The Saud bin Saqr Foundation for Youth Project Development has signed a Memorandum of Understanding (MoU) with the Ruya Bank to enhance banking services for the business community. This initiative aims to support the growth of member companies within the foundation, both locally in Ras Al Khaimah and globally in the coming period.
Under this agreement, both parties will collaborate to deliver exceptional banking services that offer added value to the member companies of the Saud bin Saqr Foundation, as well as to the broader business community in Ras Al Khaimah. This collaboration is intended to boost the competitiveness of local and international businesses in the emirate across local and global markets.
Ruya Bank will provide accessible financing solutions and roll out various business banking programs and services for small and medium-sized enterprises (SMEs) aiming to expand their operations in global markets. This will be facilitated through its network of branches worldwide, along with simplifying the account opening processes for multinational and global companies operating in the emirate.
The MoU was signed by Yusuf Mohammed Ismail, Chairman of the Supreme Committee of the Saud bin Saqr Foundation, with the presence of Iman Al-Hayas, the General Director of the foundation.
Yusuf Ismail emphasized the foundation’s commitment to positioning Ras Al Khaimah as a global business hub and creating new opportunities for the expansion of SMEs. He noted that this partnership will widen the scope for small and medium enterprises in the market and accelerate the digital transformation. Ruya Bank will provide business owners with programs aimed at broadening their customer base, enhancing competitiveness, and improving operational efficiency. Additionally, this partnership will open new avenues for growth for local enterprises, aligning with the ambitious goals of Ras Al Khaimah’s economic agenda.
Representing Ruya Bank at the signing, CEO Christoph Koester expressed his enthusiasm for the collaboration with the Saud bin Saqr Foundation for Youth Project Development. He reaffirmed that this cooperation is a significant step in strengthening the ties between the banking sector and institutions supporting youth projects, thereby enhancing the investment environment in Ras Al Khaimah. Ruya Bank aims to provide exceptional banking facilities for entrepreneurs, supporting their business growth and attracting more investments. The bank is committed to delivering comprehensive and distinguished banking services tailored to the needs of investors.