SHARJAH, 23rd October, 2025 (WAM) -- Sharjah Media City (Shams) has signed a Memorandum of Understanding with the National Bank of Ras Al Khaimah (RAKBANK) to expand financial access and foster growth opportunities for start-ups and small and medium-sized enterprises (SMEs) across the country.

This strategic partnership combines Shams' vibrant business ecosystem with RAKBANK's advanced digital banking services, providing entrepreneurs with seamless and innovative solutions that simplify establishing businesses and managing finances.

Rashid Sahoo, Director of Operations at Sharjah Media City (Shams), stated, "At Shams, we are dedicated to simplifying the entrepreneurial journey and fostering an environment where innovation and ambition can flourish. Our partnership with RAKBANK marks another step forward in supporting SMEs and start-ups with essential financial tools and easy access to capital. By combining Shams' nurturing ecosystem with RAKBANK's leading digital banking capabilities, we strive to help businesses grow smarter, faster, and more sustainably."

Emad Ahmed, EVP and Head of Commercial Banking at RAKBANK, added, "We are delighted to partner with Sharjah Media City (Shams) to support the UAE's vibrant start-up and SME community. At RAKBANK, we recognise the importance of speed, flexibility, and trust in business banking. Through our digital-first solutions and tailored financial products, we look forward to helping Shams' entrepreneurs establish, manage, and scale their businesses with confidence."

The partnership between Shams and RAKBANK highlights both institutions' dedication to supporting the UAE's national vision of establishing a global centre for entrepreneurship, creativity, and innovation.

By fostering robust collaboration between the financial and business sectors, this agreement enhances Shams' role as a key driver of media industry development. It reaffirms its mission to empower the nation's entrepreneurial ecosystem.

Through such partnerships, Shams continues to showcase how its success as a free zone directly supports the UAE's broader goals of economic diversification and sustainable development, especially in the creative and media sectors.