In nurturing the vibrant industrial environment of Ras Al Khaimah, the pivotal role of payment solutions and insurance offerings takes centre stage. In a recent Q&A session, we engaged in a concise discussion with Dr Hisham Safadi, the Founder and CEO of Click2Secure, Co-Founder of PAYD, and Chief Executive Officer at Global Trading UAE, delving into the significance of these elements.
#RAKIS: How can tailored payment solutions and insurance offerings be structured to cater specifically to the needs of Ras Al Khaimah-based companies, considering their diverse sizes, industries, and financial requirements?
Dr Hisham Safadi: Understanding the unique business environment in Ras Al Khaimah is key. Tailored payment and insurance solutions can be structured by closely analyzing the specific needs, risk profiles, and financial capabilities of companies in various industries. This involves customizing policies and payment options to align with their operational scale and requirements.
#RAKIS: In what ways do you foresee payment solutions contributing to enhancing operational efficiency for local companies in Ras Al Khaimah, especially through the integration of innovative technologies? How might insurance products complement these efforts?
Dr Hisham Safadi: Innovative payment solutions can streamline financial transactions, reducing processing time and costs. This efficiency can be further enhanced by integrating cutting-edge technologies like AI and blockchain for secure and fast processing. Insurance products can complement these solutions by offering financial security and risk management, thereby supporting operational stability.
#RAKIS: Considering the evolving landscape of various industries in Ras Al Khaimah, how can payment solutions and insurance offerings be agile and adaptable to meet the changing needs and demands of companies amidst technological, market, and regulatory shifts?
Dr Hisham Safadi: In a rapidly changing business environment, flexibility is crucial. Payment solutions and insurance offerings need to be dynamic, capable of adapting to technological advancements, market trends, and regulatory changes. This requires continuous innovation and a forward-thinking approach to anticipate and respond to emerging needs.
#RAKIS: Considering the global emphasis on sustainability, how could investment in payment solutions and insurance sectors in Ras Al Khaimah integrate sustainability principles or have a tangible social impact, and what potential opportunities lie in this intersection?
Dr Hisham Safadi: Investing in sustainable and socially responsible payment and insurance solutions can have a significant impact. This involves integrating sustainability principles into business practices and product offerings. Potential opportunities lie in promoting eco-friendly practices, supporting social causes through insurance policies, or investing in sustainable technologies.
#RAKIS: What impact does the RAKIS Summit have on enhancing the region's investment landscape?
Dr Hisham Safadi: The Ras Al Khaimah Investment and Trade Summit (RAKIS) plays a pivotal role in enhancing the investment landscape of the region. It provides a platform for showcasing innovations, attracting investments, and fostering collaborations, which can drive economic growth and technological advancement in Ras Al Khaima.