Saudi Arabian banking industry has liberalized dramatically during the past few years. Saudi Arabia has taken steps to open up investment banking by granting operating licenses to foreign banks. According to our research report “Middle East Banking Sector Forecast to 2013”, Saudi Arabian banking assets are expected to grow at a CAGR of around 8% during the forecast period. Besides, banking assets of other countries in the Middle East, for instance, the UAE, turkey, Iran, Bahrain, Qatar etc. will post significant growth rates during the same period.
According to the report, Islamic banking in the region has evolved during the past decade from a niche market to an important segment of the local banking industry, and has now reached critical masses. Strength of the Islamic banking had been observed during the recessionary period as most of the Middle Eastern countries remained unaffected by financial crisis due to lesser or negligible exposure towards toxic assets. Rapid growth of Islamic banking assets in the Middle East has outstripped that of conventional banking assets. 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 various new players.
We have also found that insurance industry in the Middle East region will emerge as a big opportunity for foreign investors as well because there are indications that region’s economy will soon be opened for foreign investors. According to Dubai Financial Services Authority (DFSA), opening up of insurance markets to foreign companies would lead to healthier competition, better products, and improved services for consumers.
“Middle East Banking Sector Forecast to 2013” provides vital information regarding banking industry of the Middle East region covering their assets, deposits, loans, credit card, debit card, POS, and ATM terminals. Our team of analysts has identified banking industry trends in the region. The report studies regulatory changes in Middle Eastern countries like Turkey, the UAE, Israel, Saudi Arabia, Iran, Bahrain, Kuwait Qatar, Jordan, and Oman. The report also covers all the factors necessary for the thorough study of the Middle East’s banking industry.
According to the report, Islamic banking in the region has evolved during the past decade from a niche market to an important segment of the local banking industry, and has now reached critical masses. Strength of the Islamic banking had been observed during the recessionary period as most of the Middle Eastern countries remained unaffected by financial crisis due to lesser or negligible exposure towards toxic assets. Rapid growth of Islamic banking assets in the Middle East has outstripped that of conventional banking assets. 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 various new players.
We have also found that insurance industry in the Middle East region will emerge as a big opportunity for foreign investors as well because there are indications that region’s economy will soon be opened for foreign investors. According to Dubai Financial Services Authority (DFSA), opening up of insurance markets to foreign companies would lead to healthier competition, better products, and improved services for consumers.
“Middle East Banking Sector Forecast to 2013” provides vital information regarding banking industry of the Middle East region covering their assets, deposits, loans, credit card, debit card, POS, and ATM terminals. Our team of analysts has identified banking industry trends in the region. The report studies regulatory changes in Middle Eastern countries like Turkey, the UAE, Israel, Saudi Arabia, Iran, Bahrain, Kuwait Qatar, Jordan, and Oman. The report also covers all the factors necessary for the thorough study of the Middle East’s banking industry.
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