Financial Services

Ras Al Khaimah was relatively unaffected by the global financial crisis and is well positioned to benefit from growth in neighbouring emirates and the wider region. Financial services in RAK are dominated by the retail banking segment, but the sector as a whole is likely to benefit from the regional construction projects and infrastructure works designed to keep pace with growing populations and commercial needs, as well as major event-driven projects. Several players offer wide variety of sharia-compliant services in the banking sector, while the insurance industry serves the upwardly mobile population and offers one of the most promising avenues for investment in the emirate. This chapter contains an interview with Kris Babicci, CEO, Commercial Bank International.