Executive talked to Hani Hamid, Marketing Manager at the National Bank of Umm Al Qaiwain, and Yousef Padganeh, Head of the Basel II Project at Bank Saderat Iran in Dubai, about the outlook for the UAE banking sector this year. E Is the UAE banking market as competitive as it could be? Specifically, do you expect greater competition this year on prices for core banking products? NBUQ: Definitely. Prices on interest will vary from bank to bank, so the sector will become more competitive. The sector will become more competitive this year—there are now 52 banks in the UAE. Bank Saderat: Yes, there is growing competition. The UAE market is highly competitive and will become more competitive because the people are trying to find new markets. E Is the regulatory environment and enforcement of regulations fair and equitable for all banks in the UAE? NBUQ: Yes, I think it is—but
