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To develop an efficient, inclusive, and robust financial services sector to promote strong and healthy competition. RAKFA aims to create quality, value, and choice, in the customers’ best interests. List of licensed banks can be found below. All information is up to date.

Types of license

Foreign Retail

The licensing of foreign retail banks ensures robust standards for the protection of the RAK’s and foreign consumers.

Foreign Wholesale

We license foreign wholesale banks to ensure the services they offer to institutional investors, businesses and other banks are aligned with UAE standards.

National Retail

Our strong and effective licensing of the national retail bank sector guarantees that it continues to be robust and consumer-friendly.


The unique services offered by specialised banks contribute to a diverse economy. Our licensing services ensure an effective regulatory framework.

National Wholesale

Our licensing underpins a diverse range of services offered by wholesale banks to institutional investors, businesses, other banks and investors.

Apply for a license

For more information

If you have any questions, related to financial licensing, please contact us directly. 

Call Us

+971 2 691 5555

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10th Floor , Customs Building, Electricity Road – Ras Al-Khaimah – United Arab Emirates