An easing of disruptions associated with the Covid-19 pandemic, a sustained increase in oil and gas receipts, and the rollout of a new law providing a framework for establishing digital offerings have given Kuwait’s banking sector renewed confidence that has been supported by the country’s wider economic recovery. Indeed, with real GDP returning to growth in 2021 and expected by the IMF to...
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The economy of Kuwait has long been underpinned by the production and export of crude oil. Although the rise in energy prices in 2021-22 boosted government revenue and macroeconomic stability, the Covid-19 pandemic, which preceded the commodity price boom, underscored the risk of over-reliance on an industry subject to fluctuating global demand. This has created fresh impetus for economic diversification, with robust public finances providing a strong platform to...
Economic update | Report: How has public-private collaboration boosted digital and cash transformation in the Bahamas?
17 Oct 2022
Public-private collaboration aimed at boosting digital payments and reducing cash usage in the Bahamas has made gains in a relatively short timeframe.
Economic update | Report: The financial sector's central role in tackling ESG issues in Mexico
10 Oct 2022
Environmental, social and governance issues are a growing focus in Mexico, particularly social inclusion and transparency, followed by other governance and environmental matters.
Articles & Analysis | Digitalisation modernising Saudi Arabia's insurance market from The Report: Saudi Arabia 2022
Saudi Arabia’s insurance market, the second largest in the Gulf region by gross written premium (GWP) after the UAE, offers a vibrant and competitive environment. Growth in recent years has been attributed to economic development creating new insurable assets, and new lines of mandatory coverage.
Articles & Analysis | Insurance companies prepare for changes to global accounting standards from The Report: Saudi Arabia 2022
Insurance companies worldwide are preparing for the most significant change in global accounting standards in almost two decades. In January 2023 the International Financial Reporting Standards (IFRS) 17 will come into effect. Replacing the previous standard, IFRS 4, which was issued in 2004, IFRS 17 aims to standardise insurance accounting globally in order to improve...