Financial Services

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With two locally headquartered banks and a substantial number of institutions from elsewhere in the UAE and further afield, Ras Al Khaimah’s banking sector is very competitive. The National Bank of RAK (RAKBANK) and Commercial Bank International (CBI) have rolled out a handful of new products and services in recent years, focusing on small and...

Despite the lingering effects of the 2008-09 international economic downturn and the more recent political unrest in the region, Ras Al Khaimah’s financial services sector is expected to grow substantially, fuelled by steady expansion in retail banking, Islamic financial services (IFS) and the insurance segment, among other areas. Local banks and...

As Ras Al Khaimah’s economy has developed over the past decade, the emirate has built a reputation as a regional centre for small and medium-sized enterprises (SMEs). In 2009, SMEs accounted for 85-95% of all economic activity in the UAE, according to a report released by the Abu Dhabi Council for Economic Development (ADCED). In RAK, the percentage...

Located in the heart of South-east Asia, Thailand combines an ancient Buddhist culture with an emerging industrial economy. It is the only South-east Asian country never to have been colonised, and the monarchy dates back to the 14th century. 

Chapter | Financial Services from The Report: Ras Al Khaimah 2012

Despite the lingering effects of the 2008-09 international economic downturn and the more recent political unrest in the region, Ras Al Khaimah’s financial services sector is expected to grow substantially, fuelled by steady expansion in retail banking, Islamic financial services (IFS) and the insurance segment. Indeed, annual deposit growth at UAE banks reached a high of 16% in April 2011....
Ahead of a planned privatisation of the country’s stock exchange, Kuwait’s Capital Market Authority (CMA), has been stepping up efforts to ensure listed firms are fully in compliance with a tightened regulatory regime, while at the same time providing transparency and accountability.

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