Driven by rising demand for new sources of financing in the face of weak oil prices, Kuwait’s Islamic financial services (IFS) sector is increasingly considered to be a core component of the nation’s development. The industry’s steadily improving profile is largely a result of the government’s efforts to shore up the sector’s reputation over the...
Kuwait is a member of both the Organisation of the Petroleum Exporting Countries and the GCC. Additionally, the country is arguably the most politically dynamic in the Gulf, which has afforded it strong foundations to help tackle recent issues concerning parliamentary elections and accountability. By continuing with economic diversification...
To what extent can Islamic instruments serve as a long-term alternative to conventional instruments in relation to financing?
More than six years of strategic planning came to fruition in late April 2016, when Boursa Kuwait Securities Company (BKSC), a private firm established in 2014, took over management of the Kuwait Stock Exchange (KSE). The move was widely understood to indicate the beginning of a new era for Kuwait’s capital market.
Over the course of the past decade the Central Bank of Kuwait (CBK), the Ministry of Finance and the Capital Markets Authority have focused on strengthening Kuwait’s financial sector. The nation’s banks have been key beneficiaries of this effort. At the end of 2015 Kuwait was home to 23 banks in total, including 11 domestic players and 12...
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