For the past five years diversification has been a key point of focus within Kuwait’s banking sector. By seeking to generate earnings from a growing number of sources, the country’s banks and other financial players aim to mitigate future risks and ensure long-term stability and profits. Traditionally, domestic commercial banking activities...
Kuwait’s banking sector has consistently posted solid growth in recent years, with this coming on the back of strong economic activity both at home and throughout the Gulf as a whole. The industry, which comprises 11 local banks and 11 foreign banks, is widely considered to be the backbone of the country’s non-oil economy, and is one of the...
Credit issuance at Kuwait’s banks rose by 5% in 2012 and by 5.7% in the first six months of 2013, as per data from the KIPCO Asset Management Company (KAMCO). These figures – which represent the highest annual lending since 2009 – can be attributed to the steadily improving financial situation at many of the country’s banks and a rapidly...
The Kuwaiti government’s increased efforts to bolster foreign direct investment (FDI) could have a significant impact on its offset activities in 2014, as the state’s National Offset Company (NOC) moves to roll out new partnerships between offset obligors and private investors. Although progress has been moderate since the programme’s...
Public spending in Kuwait has come under increased scrutiny in recent years, with a host of domestic and international experts warning that expenditure levels are unsustainable. Kuwait’s welfare system guarantees housing, education, health care and one-off grants to its citizens, as well as cheap power. However, the state is moving forward on...
The government has identified private sector participation as a critical facet of its five-year, $109bn spending plan, reforming its regulatory framework in recent years to enhance the state’s attractiveness to foreign investors. Kuwait has traditionally ranked at the bottom of GCC nations in terms of foreign direct investment (FDI) inflows,...
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