Banking

Despite a variety of ongoing challenges, Kuwait’s banking sector has performed well in recent years. The country’s 10 local banks and 11 foreign players make up one of the oldest banking sectors in the region and the third largest in the GCC. In the wake of the global financial crisis, the Central Bank of Kuwait (CBK) has introduced a raft of new regulations. Although these are likely to have a negative impact on profits in the short-term, they are expected to support sector growth in the long term. This chapter contains an interview with Mohammad Y Al Hashel, Governor, Central Bank of Kuwait.