In April 2014 the Commercial Bank of Kuwait (CMBK) received approval from 85% of its shareholders to convert the bank to a full-fledged sharia-compliant lender, making it the most recent financial services provider to begin exploring a possible conversion. Indeed, Ahli United Bank Kuwait (AUB) went through a similar process in 2010. When CMBK...
THE COMPANY: Zain Group is a Kuwait-based public shareholding company engaged in the provision of mobile telecoms and data services in eight MENA countries. Zain was incorporated in June 1983 and listed on the Kuwait Stock Exchange in March 1985. The telco currently ranks fifth in terms of market...
Kuwait has a growing segment of private sector firms providing trade and logistics services. While many of these firms initially gained a foothold by serving US military personnel in the country, there are signs that the sector is diversifying away from public sector contracts and increasingly catering to businesses and households. Well-known...
Despite the drop in global oil prices since 2014, Kuwait has announced ambitious plans to invest $100bn on oil and gas projects between 2015 and 2020. Investment will be split between upstream investments to raise Kuwait’s output capacity and downstream projects to increase the country’s share of the energy value chain globally. The investment...
The Kuwaiti government has energised the national economy by outlining major investments across strategic sectors under the Kuwait Development Plan (KDP), which runs from 2015 to 2020. Leveraging the country’s strategic location at the head of the Gulf, the plan will direct major investments into transport and logistics infrastructure and...
Following a slight decline in market capitalisation in 2014, the Kuwait Stock Exchange (KSE) is expected to benefit from a series of reforms that are currently being implemented by the Capital Markets Authority (CMA), the sector regulator. This follows from a comprehensive restructuring of the bourse in the years following the 2007-08...
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