Interview: Abdulaziz Al Babtain, CEO, Ooredoo Kuwait, on utilising technology advancements to support economic diversification What are the key drivers of growth and new revenue streams in Kuwait’s telecoms market, given near saturation in traditional services? ABDULAZIZ AL BABTAIN: The industry’s growth engine has shifted from basic connectivity to delivering digital value. In Kuwait the next…
Interview: Jalal Al Tabtabaei, Minister of Education, on utilising digital tools to modernise the sector and develop human capital How is Kuwait’s education system evolving through the six-pillar reform plan to enhance learning outcomes in line with New Kuwait 2035? JALAL TABTABAEI: The education system is undergoing comprehensive transformation aimed at aligning learning outcomes with the national…
Impact investment – designed to generate tangible social and environmental benefits alongside financial returns – presents promising risk-adjusted prospects. This type of investment not only provides value for investors, but can also greatly advance the UN 2030 Sustainable Development Goals. According to the Global Impact Investing Network (GIIN), the impact investing market has experienced substantial…
Since gaining independence at various points during the 20th century, the GCC countries – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE – have maintained a fiscal model built on oil revenue and a low- to no-tax environment. Historically, hydrocarbons revenue allowed GCC governments to fund public spending without excessive taxation, relying instead on oil and gas wealth to fund public…
Kuwait’s ambition to diversify its oil-based economy away from hydrocarbons has been in place for more than two decades. Although the ambition predates the launch of New Kuwait 2035 in 2017, the long term development blueprint represents the most comprehensive and far-reaching attempt yet to move beyond oil and fast-track growth in the other areas of the economy. Although efforts are beginning to…
GCC countries have been actively pursuing workforce nationalisation policies to reduce their reliance on expatriate workers and create sustainable employment opportunities for their growing local populations. Proactive Measures In Qatar, the workforce nationalisation rate stood at 19% in 2022, with a goal to increase this to 20%, as per the Qatarisation Policy of 2013. The country is currently accelerating…
Open banking has rapidly emerged as a transformative force in global finance, redefining traditional banking models by enabling secure, application programming interface (API)-driven data sharing and third party service integration. Valued at approximately $25.1bn in 2023 and poised to surge to $29.6bn by 2025 – ultimately eclipsing $306.6bn by 2035 – the global market’s projected compound annual…
Building on the momentum seen in the e-commerce space during the Covid-19 pandemic, the buy now/ pay later (BNPL) model is one of the fastest-growing segments in consumer finance, particularly in emerging markets. The global market is valued at an estimated $560bn in 2025, having achieved a compound annual growth rate (CAGR) of 21.7% between 2021-24. BNPL providers offer point-of-sale loans that consumers…
From 2017 until mid-2024, Kuwait’s government was unable to issue any sovereign debt in the form of sukuk (Islamic bonds) or bonds due to a continuing political roadblock. This had prevented the enactment of a public debt law authorising such issuances. The country was in the unusual position of having extensive fiscal reserves – for example, its sovereign wealth fund, the estimated $1trn Kuwait…
Despite the ongoing macroeconomic and geopolitical headwinds experienced by the global economy, one area of the international financial system that has shown steady progression is digital payments. Since the Covid-19 pandemic, they have been spurred by a jump in remittance flows, and the greater availability of digital infrastructure and services, as well as higher demand for fast and seamless non-physical…
