improve it or discuss these issues on the talk page . learn how and when to remove these template messages this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . february 2012 learn how and when to remove this template message this article contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . december 2013 learn how and when to remove this template message a major contributor to this article appears to have a close connection with its subject . it may require cleanup to comply with wikipedia s content policies particularly neutral point of view . please discuss further on the talk page . february 2016 learn how and when to remove this template message learn how and when to remove this template message rakbank type public joint stock company industry banking financial services area served united arab emirates key people h.e. mohammad omran alshamsi chairman peter william england chief executive officer deepak majithia chief financial officer ian hodges managing director retail banking geoffrey stecyk chief operating officer k.s. ramakrishnan chief risk officer abdul karim juma director of islamic banking saleh ali saleh director of rak business mufaddal khumri idris director of credit cards products cards wealth management rakfinance insurance & takaful mortgages auto finance personal finance business banking website www.rakbank.ae rakbank is the trading name of the national bank of ras al khaimah pjsc a public joint stock company headquartered in the emirate of ras al khaimah in the united arab emirates uae . it is listed on the abu dhabi securities exchange adx and its shares are publicly traded 2 rakbank is a retail and business bank in the uae with assets of aed 34.5 billion at the close of the first half of 2014 . 1 the bank provides conventional and islamic retail small business and commercial banking services through a network of thirty four branches in the uae as well as its telephone online and mobile banking channels . according to the banker s top 1000 arab bank rankings in 2014 published by ft financial publishing rakbank is the 1st in the uae by return on assets roa and 17th in the world . 3 the bank was amongst the few commercial banks in the uae which posted profit growth in 2009 . due to the bank s withdrawal in 2006 from lending in the construction and civil engineering segments outside of its base emirate it has very little residual exposure in those segments and has no exposure to construction involving high rise towers 4 at the start of 2013 the bank launched an islamic banking unit rakbank amal amid a flood of investments in the shariah islamic law compliant financial sector in the country . 5 the islamic banking products and services are offered via its subsidiary rak islamic finance company . in august 2014 the bank announced its intention to acquire a majority stake in ras al khaimah national insurance company raknic following approval from the bank s shareholders . shareholders voted in favour of the bank buying a majority stake at dh3 .64 per share during its ordinary general assembly held on monday at the bank s headquarters in ras al khaimah . the acquisition will be done through an offer to all shareholders of raknic . 6 contents 1 corporate history 2 ownership structure 2.1 subsidiaries 2.2 shareholders 3 products 4 services 4.1 mobile banking 4.2 rakbankdeals.ae 4.3 mobilecash 5 csr 6 awards 7 references 8 external links corporate history edit established in the 1970s the national bank of ras al khaimah underwent a major transformation in 2001 with a shift in focus from corporate banking to retail and small businesses . ownership structure edit subsidiaries edit rakbank has a total of four subsidiaries as of 30 september 2014 subsidiary ownership country rak funding cayman limited 99.99 % cayman islands rak islamic finance company pvt. j.s.c 99.99 % uae back office support services boss fzco 80.00 % uae rak technologies fzco 80.00 % uae ras al khaimah national insurance company psc 79.23 % uae shareholders edit the bank is 52.76 % owned by the government of ras al khaimah with shares that are publicly traded . the board consists of several members of the ruling family of the emirate and businessmen from across the uae and kuwait . ras al khaimah 7 shareholder ownership the government of ras al khaimah 52.76 % uae citizens 26.99 % foreign ownership 20.25 % products edit retail personal accounts deposits business accounts personal credit cards business credit cards debit cards prepaid cards personal loans business loans motor insurance life insurance savings plan rakvalue current account fixed deposits current account rakbank world mastercard credit card titanium business credit card rakbank standard mastercard debit bayani prepaid card personal loan rakfinance loan and raktrade rak insurance smart term life insurance triplus rakvalue for accounts savings account call deposits rakfinance account rakbank kalyan jewellers card rakelite world mastercard debit bling and loaded prepaid card mortgage home loan sme business finance uic motor insurance futureinvest lifeshield rakvalue for credit cards fast saver titanium credit card rakelite platinum mastercard debit rakauto loan oic motor insurance raklife insurance educare rakvalue for sme raksave rakbank nmc mastercard overdrafts & salary advance axa insurance super secure rakvantage rakbank geant la carte credit card evantage visa credit card ssas refss will baba help charm rakvalue for accounts red mastercard credit card master card rakvalue for credit cards wholesale financial institutions rakbiz equip commercial vehicles construction equipment professional and general equipment medical equipment wealth rakelite premium banking rakinvest mututal funds amal islamic banking personal accounts business accounts personal credit cards business credit cards debit cards personal finance business finance motor takaful family takaful plan idikhar plus savings plan rakvalue amal business equipment finance amal current account amal business current account amal titanium credit card amal business titanium credit card amal debit card amal personal finance amal business finance aman motor takaful hemayati plus family takaful plan rakvalue for accounts commercial vehicles amal savings account amal business finance account amal standard credit card amal home finance ameen and ameen prime rakvalue for sme construction equipment amal jood savings account amal call investment deposit amal auto finance hyat plus and hyat superior professional and general equipment amal advantage account rakvalue for sme amal salary advance medical equipment amal term investment deposit amal service finance amal call investment deposit amal rakvalue for accounts services edit mobile banking edit also in early 2011 rakbank launched its mobile banking service an alternative channel that provides customers with the convenience of conducting banking transactions on the go via mobile phones . rakbank made mobile banking available on both smart phones and conventional mobiles . 8 rakbankdeals.ae edit in late 2011 rakbank launched rakbankdeals.ae an online platform providing credit and prepaid cardholders with weekly deals offering discounts of 50 % and more . in mid 2012 it made rakbankdeals.ae into an interactive mobile application . 9 mobilecash edit in mid 2014 rakbank launched mobilecash for instant money transfer through mobile phones . the recipient doesn t even need a bank account they enter a code and pick up the money from a rakbank atm . the recipient doesn t even need a smartphone either 10 csr edit rakbank has a number of strategies in place to honor its sustainability commitments which reduce the bank s consumption of paper toners and energy . it is also constantly scouting for opportunities to help better society and to offer philanthropic contributions . 11 awards edit best internet banking initiative award at the asian banker middle east retail product awards 2014 for click and collect 12 bank of the year award at the 2012 arabian business achievement awards 13 14 best marketing campaign of the year award at the middle east prepaid awards 2012 for the mastercard bling campaign 15 references edit a b rakbank posts dh700m h1 net profit . 22 july 2014 . rakbank . https www.adx.ae . external link in website help top 1000 world banks . http www.thebanker.com . external link in website help rakbank to focus on abu dhabi mortgage market in 2009 . 10 february 2009 . rakbank establishes islamic unit . 21 january 2013 . rakbank to acquire raknic . 18 august 2014 . rakbank simply better . http www.dubaiinternetmarketing.com . external link in website help rakbank unveils mobile services khaleej times 2011 04 11 access date requires url help rakbank launches interactive mobile application . 9 june 2012 . rakbank introduces mobilecash app to make transferring money simple . the national . 19 august 2014 . rakbank s csr initiatives pdf . http www.uaebf.ae . external link in website help rakbank honoured with two prominent awards by the asian banker . 12 may 2014 . rakbank wins bank of the year at arabian business achievement awards . https www.zawya.com story rakbank honoured with two prominent awards by the asian banker zawya20140512113053 rakbank wins me prepaid award . external links edit official website retrieved from https en.wikipedia.org w index.php title rakbank & oldid 742424029 categories banks of the united arab emiratesonline banksras al khaimahhidden categories cs1 errors external linkspages using citations with accessdate and no urlarticles needing additional references from february 2012all articles needing additional referencesarticles with a promotional tone from december 2013all articles with a promotional tonewikipedia articles with possible conflicts of interest from february 2016pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages edit links this page was last modified on 3 october 2016 at 16 46 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view