Sharia Compliant Account
Low minimum balance required to open and maintain the account.
A free debit card that can be used at all RAKBank ATMs and UAE SWITCH ATMs.
A free personalised cheque book of 25 leaves for individual accounts.
The account can be opened in multiple currencies including AED, US Dollars, Pound Sterling, and Euro.
The bank issues monthly/ quarterly statements or e-statements on customer’s demand.
Free online banking, phone, mobile, and banking services are available.
Accountholders can also apply for other bank products like credit cards and finance.

Account Closure (Within one year) personal accounts = AED 100
Account Closure (Within 6 months) company accounts = AED 200
Non-RAKBank ATM Transactions in UAE- Cash Withdrawal = AED 2
Non- RAKBank Transactions in UAE – Balance Inquiry / Declined Transaction= AED 1
Fee for using the ATM outside UAE and GCC = AED 20

Individuals above 21 years of age.
Must be a resident of UAE.
A sole proprietorship, L.L.C. company based or a Free Zone establishment or a general partnership or a public or private shareholding or a limited partnership or club, association or society.
All the above establishments must be based in UAE
A minimum monthly average balance of AED 3,000

Based on the Sharia concept of Qard Hassan
A minimum monthly average balance of AED 3,000 needs to be maintained for personal accounts.
A minimum monthly average balance of AED 20,000 needs to be maintained for company accounts
Cheque books for company accounts will be issued at a nominal fee of AED 25 per book
The current account can also be opened in other currencies on special request.
A ledger fee of AED 25 per month will be charged if the monthly balance falls below the minimum average for personal accounts
A ledger fee of AED 50 per month will be charged if the monthly balance falls below the minimum average for company accounts

RAKBANK Islamic Current Account