Kuwait

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The performance of the banking sector has rebounded since the 2007-08 global financial crisis. Banks’ balance sheets show that net profit, assets, loans and deposits are all growing strongly, financial metrics look robust, and various industry assessments show that the industry is well capitalised. “It has been several years of effort and...

 

What challenges does the sector face as it works to implement Basel III requirements and International Financial Reporting Standards (IFRS) 9?

 

In the three decades before the 2007-08 global financial crisis, the world’s financial networks became increasingly interconnected. Financial system regulatory convergence and the growing penetration of World Trade Organisation rules, as well as the creation of currency unions such as the euro, resulted in a surge in cross-border capital flows...

 

While the digital revolution has swept through many industries, the Kuwaiti banking and finance sectors remain largely unchanged. However, there is a definite sense that digital innovations are gaining ground as banks establish financial technology (fintech) departments in order to guide policy. Technology has the potential to reform the face...

 

What role has technology played in improving the social security system, increasing penetration and enhancing the delivery of services?