Financial Services

RAK’s financial services sector has posted robust growth in recent years. New regulations in line with Basel III standards are set to stabilise and protect banks, setting new capital and liquidity standards, while changes to the insurance sector are expected to limit investment losses in the UAE’s equities markets. While local banks are increasingly focusing on retail and SME lending, construction development in the region continues to bode well for the sector, with events such as Dubai’s World Expo 2020 and FIFA World Cup 2022 in Qatar set to generate greater investment and financing demand.

This chapter contains an interview with Peter England, CEO, National Bank of Ras Al Khaimah.