SPC Free Zone and RAKBANK forge a pioneering partnership at Sharjah International Book Fair

Sharjah, November 11, 2023

Sharjah Publishing City Free Zone (SPC Free Zone) and The National Bank of Ras Al Khaimah (RAKBANK) have unveiled an Memorandum of Understanding (MoU) that signifies a memorable milestone in the world of publishing and business development. The signing took place at the Sharjah International Book Fair, recognised as the largest book fair in the world regarding publishing rights, and is currently captivating literary enthusiasts at the Sharjah Expo Centre until the 12th November.

Providing benefits and services to SPC Free Zone members

By providing access to a comprehensive suite of banking services and financing options, this collaboration aims to enhance the financial capabilities of businesses operating within the world’s pioneering publishing free zone.

These offerings include the innovative RAKstarter Account for startups, Business Current Account for easy access to funds, and RAKelite Business, providing priority banking services with preferential pricing. Moreover, entrepreneurs can benefit from collateral-free Business Loans, Point of Sale Finance, Term and Working Capital Finance, Real Estate Finance, Asset-Based Finance, as well as Cash Management Services at competitive rates. This strategic partnership underscores the commitment to nurturing entrepreneurship and fostering growth within Sharjah’s dynamic business ecosystem.

Fostering a thriving business environment

Speaking at the event, Mansour Al Hassani, Acting Director of SPC Free Zone and Director of Publisher Services at the Sharjah Book Authority (SBA), underscored the significance of this partnership by stating, “This new alliance signifies a pivotal moment for Sharjah Publishing City Free Zone, reinforcing our dedication to nurturing talent and fostering a thriving business environment. This collaboration will provide our members with an array of banking solutions and financial support, setting the stage for unprecedented innovation and growth in the publishing and business sectors.”

Commenting on the partnership Dhiraj Kunwar, Managing Director of Business Banking at RAKBANK, said: “The collaboration with Sharjah Publishing City Free Zone is a natural next step in how RAKBANK seeks to constantly provide SMEs with the financial solutions and digital services they need. Our vision is to further support startups and championing entrepreneurship locally. Through this MoU, we hope to bring key incentives and affordable financing solutions to the SPC Free Zone business community, which reflects our integral role as one of the leading SME banks in the country.”

SPC Free Zone, a subsidiary of the Sharjah Book Authority (SBA) and the world’s pioneering publishing free zone, is renowned for its multifaceted business setup and licensing services. It serves as a cornerstone for entrepreneurs aspiring to establish their dream businesses in the UAE, operating seamlessly from Sharjah.

The signing of this strategic agreement represents an exciting chapter in the evolution of Sharjah Publishing City Free Zone and is a testament to its mission to become a global hub for the publishing and content creation industry. As the Sharjah International Book Fair continues to captivate the literary world, the collaboration between SPC Free Zone and RAKBANK adds a compelling layer of innovation and financial support to the pages of this extraordinary event.

-ENDS-