In mid-November 2015 the Capital Markets Authority (CMA), Kuwait’s investment sector regulator, released a new set of rules aimed at streamlining the issuance of sharia-compliant debt instruments. After steady growth in new sukuk (Islamic bond) listings in the early and mid-2000s, the country’s corporate debt market has seen declining...
To what extent can Islamic instruments serve as a long-term alternative to conventional instruments in relation to financing?
Over the course of the past decade the Central Bank of Kuwait (CBK), the Ministry of Finance and the Capital Markets Authority have focused on strengthening Kuwait’s financial sector. The nation’s banks have been key beneficiaries of this effort. At the end of 2015 Kuwait was home to 23 banks in total, including 11 domestic players and 12...
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 past decade, most recently by rolling out new...
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 ($1.04bn) in total gross written premiums (GWPs), up 4.3% from KD302m ($...
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