Islamic Financial Services
One of the foremost and earliest players in the global market for Islamic financial services, Kuwait could soon see the segment play a larger role in the banking sector. Half way through 2013, Kuwait housed more than $70bn in sharia-compliant banking assets, around 6% of the global total and a figure widely expected to grow in the coming years. Key drivers include a sector- wide focus on asset diversification, new opportunities in the sukuk (Islamic bond) market and the potential conversion of the Commercial Bank of Kuwait, a conventional lender, to sharia-compliant status.
