Rafidain Bank UAE Review
Iraq’s Oldest Bank in the UAE – What Does Its Abu Dhabi Branch Offer?
Editor’s Verdict for Rafidain Bank
Rafidain Bank is one of Iraq’s oldest and largest state-owned banks, founded in 1941, and it maintains an international presence that includes a single branch in the UAE located in Abu Dhabi. Unlike the major UAE retail banks, Rafidain Bank UAE operates a focused, niche model centred on personal banking, international money transfers, and corporate and investment banking for entities with cross-border ties – particularly between the UAE and Iraq. It does not run a wide retail network of branches or ATMs across the seven emirates.
✓ Best For
- Customers needing reliable cross-border transfers and correspondent banking between the UAE and Iraq
- Foreign investment companies and SPVs that require a structured Investment Premium Account in the UAE
- Corporate clients seeking multi-currency accounts and trade finance support
- Individuals who specifically want to bank with an established Iraqi institution in Abu Dhabi
✗ Not Ideal For
- Customers who need a wide branch and ATM network across all seven emirates
- Expats wanting instant low-cost remittance apps and broad digital-bank features
- Anyone outside Abu Dhabi looking for a nearby branch for everyday banking
Quick Facts
| Bank Type | Commercial / Retail / Corporate / Investment Banking |
|---|---|
| Founded | 1941 (Iraq); UAE branch operating for over a decade |
| Parent Institution | Rafidain Bank, Baghdad, Iraq (state-owned) |
| UAE Headquarters | Al Hisn area, Abu Dhabi, UAE |
| Branch Network | 1 branch in the UAE (Abu Dhabi) |
| ATM Network | ATM services available in Abu Dhabi |
| Online Banking | Rafidain Bank UAE Online Banking |
| Languages Supported | English, Arabic |
| SWIFT/BIC Code | RAFBAEAD (Abu Dhabi Branch) |
| Routing Code | 400510101 |
📄 Schedule of Fees
📍 Branch & ATM Locations
Rafidain Bank Pros & Cons
✓ Pros
- Cross-border expertise
Deep experience with UAE–Iraq corridors and correspondent banking - Established institution
Backed by one of Iraq’s oldest and largest state-owned banks (since 1941) - Corporate & investment focus
Multi-currency accounts, trade finance and structured Investment Premium Accounts - International transfers
Global remittance services connecting the UAE with regional networks - Digital banking
Online and mobile banking with multi-factor authentication and transaction alerts
✗ Cons
- Single UAE branch
Only one office, located in Abu Dhabi – no presence in other emirates - Limited retail footprint
No widespread ATM or branch network compared with major UAE banks - High corporate minimums
AED 25 000 minimum monthly balance and a AED 250 fall-below fee for corporate accounts - Investment account thresholds
Investment Premium Accounts require USD 50 000–100 000 initial placement - Niche orientation
Best suited to specific cross-border needs rather than everyday consumer banking
Rafidain Bank Popular Products
Personal & Savings Account
Most Popular
Who it’s for: Individuals in Abu Dhabi who want everyday banking, savings and access to international transfers.
Rafidain Bank UAE offers personal banking solutions that include everyday banking, savings and deposit products, and secure online account management. Customers can manage balances, transactions and transfers through the bank’s online and mobile banking platform with multi-factor authentication and real-time transaction alerts.
The personal banking proposition is paired with the bank’s global remittance services, which are designed to make sending and receiving funds safe and reliable across regional and international networks.
Corporate Banking Account
For Businesses
Who it’s for: Companies and organisations operating in the UAE that need day-to-day operational accounts and cross-border transactions.
The corporate account supports multi-currency accounts and trade finance, with services such as local and international transfers, standing instructions and bank reference letters. The corporate account opening fee is AED 1 000, with a minimum monthly balance of AED 25 000 and a fall-below fee of AED 250 per month.
Operational charges include local online transfers at AED 10, branch local transfers at AED 50, and outgoing international transfers at AED 100 plus correspondent charges. Trade finance and structured transactions are quoted on a case-by-case basis.
Investment Premium Account
For Investors
Who it’s for: Foreign investment companies, holding companies, joint ventures and SPVs engaged in structured, cross-border investment activity.
Launched in January 2026, the Investment Premium Account is a specialized solution for entities receiving investment capital or structured finance from UAE investment entities. It facilitates the receipt, holding and controlled deployment of investment-related funds, subject to enhanced compliance review.
The account establishment fee is USD 2 500 (or AED equivalent), with an initial capital placement requirement of USD 50 000–100 000 determined by due diligence, plus an annual maintenance fee of USD 1 500. Capital inflow processing is charged at 0,25% of transaction value (minimum USD 500).
Rafidain Bank Fees & Charges
Understanding the fee structure prevents unpleasant surprises. The figures below are taken from the bank’s official Fee Structure page:
Digital Experience
Rafidain Bank UAE Mobile & Online Banking
The bank provides an online banking platform and a digital banking mobile app that allow customers to manage their accounts conveniently and securely, with access to balances, transactions and transfers anytime, anywhere.
What works well: The Digital Banking Mobile App was updated in November 2025 with enhanced multi-factor authentication and real-time transaction alerts. Online banking covers balance checks, transaction history and fund transfers, and corporate clients gained multi-currency accounts and trade finance support in 2025.
What to keep in mind: As a niche institution with a single UAE branch, the digital offering is more focused than the feature-rich apps of large retail banks. Complex requests and account opening still centre on the Abu Dhabi branch.
Online Banking
The web portal at rafidain-uae.com provides account management including balances, transactions and transfers. Login is available through the bank’s online banking section. Some services and onboarding steps require contact with the branch or the relevant department by email.
Rafidain Bank Contact Information & Support
Customer Service
Main Contact
General Inquiries & Personal Banking
Corporate & Investment Banking (CIB)
Complaints & Escalation
Careers
Headquarters (UAE)
Al Dhahari Building, 315 Hamdan Bin Mohammed Street (Al Nasr Street)
Al Hisn area, Abu Dhabi, UAE
P.O. Box 2727
Quick Actions
Rafidain Bank Branch Network
Rafidain Bank operates a single branch in the UAE, located in the Al Hisn area of Abu Dhabi. The official website does not list any additional branches in other emirates, so the bank is represented only in Abu Dhabi. All in-person banking services are delivered from this office.
Abu Dhabi
| Branch | Address |
|---|---|
| Rafidain Bank – Abu Dhabi Branch (Head Office) | Al Dhahari Building, 315 Hamdan Bin Mohammed Street (Al Nasr Street), Al Hisn area, Abu Dhabi, P.O. Box: 2727, UAE |
Rafidain Bank SWIFT Codes
A SWIFT/BIC code is required to send and receive international transfers to a Rafidain Bank UAE account. The bank’s UAE operations use a single SWIFT code for its Abu Dhabi branch. This code is not published on the bank’s own website and was sourced from established SWIFT/BIC directories.
| SWIFT Code | Branch / Department | Emirate | Address |
|---|---|---|---|
| RAFBAEAD | Abu Dhabi Branch | Abu Dhabi | Al Dhahari Building, 315 Hamdan Bin Mohammed Street (Al Nasr Street), Al Hisn area |
If you’re not sure what this means, see what is a SWIFT code. To browse every bank, open the full UAE SWIFT code table, or check this SWIFT code.
Information may change – verify current terms on the official Rafidain Bank UAE website before making financial decisions. This page is for informational purposes only and does not constitute financial advice.
FAQ – Rafidain Bank UAE
Where is Rafidain Bank located in the UAE?
Rafidain Bank operates a single UAE branch in Abu Dhabi, at Al Dhahari Building, 315 Hamdan Bin Mohammed Street (Al Nasr Street), in the Al Hisn area, P.O. Box 2727. There are no other branches in Dubai, Sharjah or the remaining emirates.
What is the Rafidain Bank UAE SWIFT code?
The SWIFT/BIC code for the Rafidain Bank Abu Dhabi branch is RAFBAEAD, with routing code 400510101. Always confirm the exact code with the bank before sending an international transfer.
How do I contact Rafidain Bank UAE?
You can call +971 55 861 7535 or email customercare@rafidain-ae.com for general inquiries and personal banking, cib@rafidain-ae.com for corporate and investment banking, or complaints@rafidain-ae.com for complaints and escalation.
What banking services does Rafidain Bank UAE offer?
The bank offers personal banking (everyday banking, savings and deposit products, online account management), international money transfers, digital banking, and business and corporate services including multi-currency accounts and trade finance. It also offers a specialized Investment Premium Account for foreign investment companies.
What are the corporate account fees at Rafidain Bank UAE?
The corporate account opening fee is AED 1 000, with a minimum monthly balance of AED 25 000 and a fall-below fee of AED 250 per month. Outgoing international transfers cost AED 100 plus correspondent charges, while local transfers are AED 10 online or AED 50 at the branch.
What is the Investment Premium Account?
Launched in January 2026, the Investment Premium Account is designed for foreign investment companies, holding companies, joint ventures and SPVs receiving structured investment capital in the UAE. It requires a USD 2 500 establishment fee, a USD 50 000–100 000 initial capital placement, and a USD 1 500 annual maintenance fee, subject to enhanced due diligence.
Does Rafidain Bank UAE offer online and mobile banking?
Yes. The bank provides an online banking portal and a digital banking mobile app for managing balances, transactions and transfers. The app was updated in November 2025 with enhanced multi-factor authentication and real-time transaction alerts.
Is Rafidain Bank UAE the same as Rafidain Bank in Iraq?
The UAE branch is an international extension of Rafidain Bank, one of Iraq’s oldest and largest state-owned banks, founded in 1941 and headquartered in Baghdad. The Abu Dhabi branch serves customers in the UAE while drawing on the parent bank’s regional network.
