In recent years the government has pushed to reform the nation’s health insurance segment. The state’s plans, which involve shifting the cost of medical coverage from the public to the private sector, have major implications for underwriters, expatriate residents and Kuwaiti citizens. At the heart of this effort are two initiatives. The first...
Despite the slowing regional economy and strong competition among local players, Kuwait’s insurance sector has seen steady growth in recent years, due in large part to rising demand for non-life products and increased activity in the takaful (Islamic insurance) segment. In 2015 the industry brought in an estimated KD315m ($1.04bn) in...
Driven by rising demand for new sources of financing in the face of weak oil prices, Kuwait’s Islamic financial services (IFS) sector is increasingly considered to be a core component of the nation’s development. The industry’s steadily improving profile is largely a result of the government’s efforts to shore up the sector’s reputation over...
In early November 2015 the regulator of Kuwait’s capital market, the Capital Markets Authority (CMA), issued a comprehensive set of executive bylaws to the regulatory framework. The revision, officially known as CMA Resolution No. 72 of 2015, comprises 1665 articles governing activity across 16 broad areas, including disclosures, transparency...
Driven by rising demand for new sources of financing in the face of weak oil prices, Kuwait’s Islamic financial services (IFS) sector is increasingly considered to be a core component of the nation’s development. The industry’s steadily improving profile is largely a result of the government’s efforts to shore up the sector’s reputation over the...
More than six years of strategic planning came to fruition in late April 2016, when Boursa Kuwait Securities Company (BKSC), a private firm established in 2014, took over management of the Kuwait Stock Exchange (KSE). The move was widely understood to indicate the beginning of a new era for Kuwait’s capital market.
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