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...
The two firms that constitute Kuwait’s reinsurance industry are looking forward to increased activity, driven by strong demand for reinsurance capacity in local and regional markets alike. Indeed, in an effort to diversify their revenue sources, both Kuwait Reinsurance (Kuwait Re) and Al Fajer Re-takaful (Al Fajer Re) have worked to expand their...
Islamic financial institutions have become an increasingly important component of Kuwait’s banking sector over the past decade and a half. As of September 2012, the country’s five Islamic banks accounted for 42.3% of total banking assets, up from 33% at the end of 2011, according to data from Kuwait Finance House (KFH) and Ernst & Young (E&Y...
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