Kuwait’s oil and gas sector has been a difficult market to enter for foreign investors since the industry was nationalised, but two factors suggest that it may become easier in the future. The first is the scale of government investment that has been earmarked for it over the coming years. Nearly two-thirds of the investment spending outlined in the...
Hydrocarbons wealth has been the central pillar of Kuwait’s economy for nearly a century, and proven oil reserves of around 101bn barrels underwrite the nation’s future economic wellbeing. The Kuwaiti government derives 95% of its budget from oil revenue, and the oil sector accounts for around 52% of the nation’s GDP. However, the days of easy oil...
As the technology required to extract and exploit Kuwait’s hydrocarbons reserves becomes ever more complex, the importance of establishing a well-structured national research and development programme increases. In Kuwait, two institutions in particular provide a framework for the nation’s research efforts with regard to its energy sector; the...
The insurance industry has grown substantially over the past decade. The expansion of Kuwait’s insurance industry over the course of the 12 years leading up to 2011 – the most recent year for which data was available at time of publication – reflects the country’s overall economic performance during the same period and, indeed, global macroeconomic...
Over the past decade Kuwait has seen the emergence of one of the largest and most diverse Islamic financial services (IFS) industries in the world. According to Kuwait Finance House (KFH), as of September 2012, the country was home to $70.4bn in Islamic finance assets, some 5-6% of global sharia-compliant assets. Numerous Islamic financial...
The development of Islamic financial services (IFS) in Kuwait over the past decade and a half corresponds to the rise and fall of real estate throughout the GCC over the same period. From the early 2000s until the international financial downturn in 2007-08, local sharia-compliant banks and companies invested heavily in the regional real estate...
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