The Middle East (ME) region is one of the world's fastest growing banking markets. The commercial banks that operate in competitive environment (with less direct government intervention, low market concentration and where foreign banks are allowed entry) are likely to be more efficient in coming years in the region. Most importantly, despite financial crisis in the world, banking sector in the region looks fundamentally strong, according to “Middle East Banking Sector Forecast to 2013”, new research report.
According to RNCOS, global recession has had an insignificant impact on the industry because of the conservative investment strategies practiced in the region. The least exposure towards toxic assets e.g. the US financial and property market and other problematic assets, kept the Middle East banking sector unaffected from crisis.
Central banks and other governing bodies in the region are taking many proactive measures to avoid any kind of discrepancies in the future, although the region is least affected compared to other parts of the world. Many Central banks are pumping money and maintaining liquidity through various measures to increase the confidence level of consumers. According to RNCOS, banking sector of Turkey, the UAE, and Qatar will witness fast growth in the region along with other countries of the region.
RNCOS team or experts has also found that the Middle East banking industry is becoming more competitive. Furthermore, the Middle East region is one of the largest Islamic banking markets in the world. Islamic banking in the region has evolved in the past decade from a niche market to an important segment of the local banking industry, and has now reached critical mass. Main factors responsible for the growth of the Islamic banking in the region are, strong government involvement, increasing demand for and offer of Islamic products, and the entrance of numerous new players.
RNCOS report provides extensive research and in-depth analysis on the country-wise banking sector in the Middle East, their products, and services. It will help clients to analyze leading-edge opportunities critical to the success of the banking industry in the Middle East countries. Detailed data and analysis help investors, financial service providers, and global banking players navigate through the evolving banking sector in the Middle East.
Besides, RNCOS report provides a business overview of several prominent players in the industry, including National Bank of Bahrain, Bank Hapoalim Ltd, National Bank of Kuwait, National Commercial Bank, Oman International Bank, Jordan Ahli Bank, Bank Saderat Iran, National Bank of Dubai, Qatar National Bank, and Akbank.