Interview:Mohammad Saud Al Osaimi Which new developments are helping enhance capital markets’ product and service offerings? MOHAMMAD SAUD AL OSAIMI: Since its inception, Boursa Kuwait has been dedicated to elevating Kuwaiti capital markets by introducing products and services that not only cater to the needs of local investors, but also establish a reliable trading platform for investors…
Interview:Mohammad Al Otaibi How will recent regulations related to the new insurance law reshape the market going forwards? MOHAMMAD AL OTAIBI: The insurance sector in Kuwait is poised for transformation, driven by executive regulations under the new insurance law. These are set to significantly reshape the market by enhancing operational frameworks, fostering market competitiveness and boosting…
Interview:Sheikh Meshaal Jaber Al Sabah, Director-General, Kuwait Direct Investment Promotion Authority (KDIPA) To what extent is foreign direct investment (FDI) integral to Kuwait’s strategy for realising its domestic objectives and international commitments? SHEIKH MESHAAL JABER AL SABAH: It is a well-established fact that the economic, social and environmental impact of FDI plays a pivotal…
Interview: Abdulwahab Iesa Al Rushood How do you assess the progress of economic diversification efforts, and in what ways might local Islamic banks contribute to this end? ABDULWAHAB IESA AL RUSHOOD: The government has taken key steps to diversify the economy, enhance budget efficiency and work towards its transformation goals. These efforts include increased investment, the expansion of major development…
Interview:Isam Al Sager, CEO, National Bank of Kuwait What are your expectations for corporate and retail banking in the current landscape? ISAM AL SAGER: Numerous developments could have an impact on the expansion of corporate and retail banking in the current economic and geopolitical environment. Factors such as GDP growth, interest rates, inflation and government policies could influence…
Interview:Sheikh Ahmad Duaij Jaber Al Sabah, Chairman, Commercial Bank of Kuwait Which strategies are banks prioritising to maintain growth amid the global economic downturn? SHEIKH AHMAD DUAIJ JABER AL SABAH: Under the leadership and guidance of institutions like the Kuwait Banking Association (KBA) and the Central Bank of Kuwait (CBK), the banking sector is handling the global economic downturn…
Interview:Basel Al Haroon, Governor, Central Bank of Kuwait (CBK) In what ways do global inflationary pressures affect macroeconomic performance? BASEL AL HAROON: Local price fluctuations serve as crucial indicators for measuring different elements of economic performance. These include purchasing power and the allocation of resources to consumption, savings and investment. The CBK keeps a…
Kuwait’s construction and real estate sectors are significant contributors to the country’s economy, propelled by government initiatives, private investment and oil revenue. New Kuwait 2035, the country’s long-term plan for economic diversification and sustainable growth, elevates the sectors’ importance with the intention of increasing the quantity and quality of infrastructure projects, while…
Kuwait’s GDP has undergone significant expansion in recent years, with the spike in global oil prices enabling the country to maintain a trade surplus amid domestic political changes, international geopolitical tensions and economic uncertainties. Guided by medium- and long-term development plans, the country is in the process of diversifying its economy as it shifts its focus from resource-based…
Situated between Iraq and Saudi Arabia at the north-western corner of the Gulf, Kuwait operates as a constitutional monarch, and is a founding member of both the GCC and the Organisation of the Petroleum Exporting Countries. Despite its modest land size, the country holds the world’s sixth-largest crude oil reserves, which have served as a robust foundation for sustained economic development and…
