National Bank of Ras Al Khaimah P S C : RAKBANK and Tradeling Announce a Strategic Partnership to Support the Growth of SMEs in UAE

RAKBANK and Tradeling Announce a Strategic Partnership to Support the Growth of SMEs in UAE

22/02/2022

United Arab Emirates, 22 February 2022- The National Bank of Ras Al Khaimah (RAKBANK) signed a Memorandum of Understanding (MoU) with Tradeling, the hyper growing e-marketplace focused on business-to-business (B2B) transactions in the Middle East and North Africa. The MoU aims at providing enhanced value offering to RAKBANK Business Cardholders.

The partnership with Tradeling offers RAKBANK and RAKislamic Business cardholders access to preferential buying terms across all categories on their website, Tradeling.com. It results in a smooth process for the Bank's SME customers whereby they can streamline their procurement process, maximize their earning potential, benefit from competitive prices, and free domestic shipping within the UAE for one Year.

Tradeling's platform further leverages advanced technology to optimize the supply chain processes, creates economic value as well as mitigates risks for small businesses. It is in line with RAKBANK's strategy of building the necessary ecosystem and infrastructure for SMEs to develop sustainably. The MoU provides RAKBANK SMEs instant access to an online marketplace and platform that directly supports their goals and objectives of growing their business locally, regionally, and internationally.

Commenting on the partnership Marius Ciavola, CEO of Tradeling, said: "Our long term partnership with RAKBANK will expedite the growth of SMEs in UAE through various trade finance solutions that offers easy payment options and discount rates designed specifically to tackle the hurdles faced by B2B buyers and sellers."

He added: "We are constantly working on offering the best and most profitable solutions for our customers to further expand their reach by connecting sellers and buyers from different parts of the world and enabling them to continue operating in a seamless and efficient manner, all while utilizing the financial benefits available on our platform."

For his part, Dhiraj Kunwar, Managing Director of Business Banking at RAKBANK, said: "This partnership is in line with our strategy of providing Digital services and platform lending to SMEs. Through this partnership, our customers will be able to unlock valuable opportunities to connect to B2B sellers and buyers from around the world. E-commerce has become a significant growth tool for any business in today's climate, and Tradeling's platform offers SMEs an ideal gateway to a wider customer base across the region to gain broader recognition for their products and services".

Tradeling has recorded impressive growth in the last two years. Led by a team of experienced technology startup builders, Tradeling ensures a reliable and smooth trade process in addition to providing logistics and financing solutions. Connecting global suppliers with MENA-based demand, the platform leverages advanced technology to optimise the supply chain and creates economic value in addition to mitigating risks. Today, Tradeling has over 100,000 registered buyers and sellers from over 55 countries.