Posted by Bob Brunskill
Ras Al Khaimah is committed to increasing its current A credit rating to AA status, a senior official has said.
Khater Massaad, chief executive officer of the Ras Al Khaimah Investment Authority (RAKIA), confirmed that the emirate is keen to continue attracting investment by boosting its rating - a move that would also put it on the same footing as its sister-emirate, Abu Dhabi.
"For the last two years, Ras Al Kaimah has got an A-rating and His Highness Sheikh Saud Bin Saqr Al Qasimi wants to bring this A to AA," he told Gulf Business.
Dr Massaad described the deputy ruler as a "very conservative" and "very good" businessman, noting that his primary concern is to "make sure that Ras Al Kaimah is on the right track, no defaulting and financial problems".
According to Gulf Business, there are more than 6,500 companies registered with RAKIA.