Innovating Trade Finance: RAKBANK and DP World Collaborate

UAE based financial establishment, RAKBANK has entered into a strategic partnership with DP World, a global leader in logistics and trade solutions. This collaboration aims to provide businesses of all sizes with innovative and cost-effective trade finance solutions. 

The partnership capitalizes on DP World’s expansive trade network and real-time data insights, empowering RAKBANK with advanced risk assessment capabilities and streamlined access to financing. By harnessing DP World’s extensive trade expertise and cutting-edge technology, RAKBANK aims to enhance its service offerings and support businesses in navigating the complexities of international trade. 

Vikas Suri, Managing Director, Wholesale Banking Group-Products, RAKBANK, said, “RAKBANK continues to work towards delivering comprehensive and affordable finance solutions for everyone through an expanded portfolio, adoption of best practices and the right industry collaborations. 

We are proud to partner with DP World’s simplified digital platform, as it offers customers easy access to finance options, saving them the time and effort involved in handling copious documentation.” 

Sinan Ozcan, Senior Executive Officer, DP World Trade Finance, commented, “As the leading provider of smart supply chain solutions, DP World is uniquely positioned to provide visibility on trade data. Our capabilities to control underlying cargo, helps lenders connect with businesses and accurately assess risks and mitigate them. This partnership with RAKBANK will be beneficial to facilitate global trade and provide greater visibility to everyone along the supply chain.” 

The partnership agreement was formalized in the presence of key executives from both organizations, underscoring their commitment to driving innovation and facilitating economic growth through collaborative efforts. 

Ghalia Bushnaq (pictured) is Group General Counsel at RAKBANK.