While business activities undertaken according to the principles of Islamic law, or sharia, have been a feature of the Gulf region for over a millennium, recent years have seen the emergence of a modern Islamic financial services (IFS) sector that has established itself as an important component of regional economies. Kuwait is no exception. Its...
The establishment of the Capital Markets Authority (CMA) is the most significant development for Kuwait’s bourse in decades. The new regulatory regime, ushered in by the passing of the Capital Markets Law (CML) in February 2010, replaces an unwieldy system in which a triumvirate of administrative bodies – the Ministry of Commerce and Industry, the...
What are some lessons investors and regulators have learned from the global financial crisis?
THE COMPANY: Acknowledged as the leader in the local banking industry, NBK was established in 1952 as the first national bank and first joint stock company in Kuwait and the Gulf region. NBK is the largest financial institution in the country with total assets of KD13.7bn ($49.39bn) and enjoys the status...
THE COMPANY: Mabanee is a public shareholding real estate company that is widely recognised for owning The Avenues shopping mall. It was listed on the Kuwait Stock Exchange in November 1999 and is currently the largest real estate company in the sector, representing around 27% of the total real estate...
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