Islamic Financial Services
Kuwait’s Islamic financial services sector is well established, with a long history in both Islamic banking and takaful, or Islamic insurance. The segment has expanded in recent years, building upon the country’s reputation as an emerging centre for sharia-compliant banking, insurance and investment products. The government has enacted a series of laws and regulations aimed at further developing Islamic finance, and there remains a strong demand for such products. This is reflected in the country’s increasing world share of sharia-compliant assets, with Kuwait accounting for 6.3% of such products in the second quarter of 2018, up from 6% during the same period of 2017. This chapter contains interviews with Mazin Al Nahedh, CEO, Kuwait Finance House; and Raed Jawad Bukhamseen, Vice-Chairman and CEO, Kuwait International Bank.
