WAM reported that His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, received the delegations from RAKBANK and Network International at his palace in Saqr bin Mohammed City on November 28, 2025. The RAKBANK group was led by Mohammed Omran Al Shamsi, the chairman of the board of directors. Murat Çağrı Süzer, group CEO of Network International, headed the other delegation, with several officials from both sides also in attendance. The ruler was briefed on the bank’s most prominent projects and current programmes during the meeting.
According to the report, discussions covered efforts to enhance the banking services system and the overall customer experience. Initiatives in digital transformation, financial innovation and support for entrepreneurs and small and medium-sized enterprises were reviewed in detail. The Network International team outlined its work in providing advanced payment solutions to the financial sector. These solutions are intended to increase operational efficiency and drive digital change in banking and commercial entities across the UAE.
The Emirates News Agency indicated that the solutions contribute to strengthening the economy and accelerating innovation in payments. His Highness Sheikh Saud bin Saqr Al Qasimi pointed to the banking sector as a key pillar of the national economy. He stressed its vital role in enhancing the business and investment climate. The ruler’s directives were said to act as a major incentive for banks to expand their performance and customer services.
The delegations expressed their appreciation to the ruler for his continuous support to the banking sector and for encouraging development and innovation, WAM reported. They indicated that such guidance motivates them to improve their contributions to the emirate and the country. The meeting highlighted the close collaboration between the leadership and financial institutions in Ras Al Khaimah.
Public Authority for Statistics figures show that Ras Al Khaimah’s economy has grown steadily, with the financial and insurance sector contributing to diversification efforts away from traditional industries. A report by the Dubai Chamber of Commerce and Industry noted that digital payment adoption in the UAE has increased significantly in recent years, supporting the type of innovations discussed in the meeting. This context underscores the timeliness of the briefing provided to the ruler on these matters.
The bank has previously highlighted its commitment to SME financing, which aligns with national priorities to empower small businesses, according to RAKBANK statements. Such engagements between the ruler and banking leaders occur periodically to ensure alignment with the emirate’s strategic vision. The visit by the Mastercard-related delegation reflects the growing importance of international partnerships in UAE’s financial landscape.
