Financial Services

New regulations introduced by the Qatar Central Bank (QCB) in mid-June will curb local banks’ investment options, potentially making sovereign bonds more appealing at the expense of some private sector options. The move is taking place as the government prepares to set its infrastructure development programme into overdrive.

Despite new state investments in infrastructure and a steadily rising population, the insurance sector in Kuwait is expected to grow more slowly than elsewhere in the Gulf.

With the country in the middle of a population boom, planned reforms to Nigeria’s pension system are timely. The legislative overhaul is expected to boost coverage, inject new capital into productive investments and increase accountability. However, implementation may be tricky, both in terms of ensuring compliance with the scheme and finding trained personnel to staff asset management funds.

L'assurance islamique, takaful, devrait contribuer de façon décisive au développement du secteur des assurances marocain, en droite ligne avec la volonté du gouvernement de diversifier le marché et d’augmenter le nombre de primes. Le lancement de takaful, initialement prévu cette année, reste cependant tributaire de l’adoption d'une nouvelle loi relative aux services financiers islamiques.

As Abu Dhabi looks to develop its capital markets, it has again raised discussions of establishing a Gulf Derivatives Exchange, while an upgrade for the UAE to emerging market status is likely to boost the bourse’s international profile and attract more institutional investors.

An overhaul of South Africa’s financial regulations, already considered some of the most robust worldwide, is likely to result in a shake up for the insurance sector. While the new system will strengthen oversight and boost transparency, it is also expected to push up the cost of compliance, which in turn could lead to industry consolidation.