Interview: Ali Al Hendal, CEO, GIG Kuwait, on how digital tools and regulatory reforms are transforming distribution How will the 2025 rules on mandatory policies and QR-based verification reshape distribution, fraud control and customer trust? ALI AL HENDAL: Standardised policy formats will reduce ambiguity, while QR verification – which comes into effect after the implementation period and applies…
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…
As environmental, social and governance concerns become increasingly important in the corporate world, insurance companies are emerging as potentially key players in the shift away from fossil fuel-powered projects. The UN’s Net-Zero Asset Owner Alliance (NZAOA) reflects an ongoing change in the global industry towards the wider recognition of the risks associated with climate change. However, the…
Economic growth, consolidation and new fiscal laws passed in 2025 are driving the banking sector’s growth, diversification, and lending opportunities. Despite market uncertainty due to US tariff policy, oil market volatility and geopolitical tensions, domestic banks in Kuwait have remained resilient. Kuwait’s leading banks posted strong balance sheets and liquidity for 2024, with capital buffers…
Kuwait’s Islamic financial sector has become increasingly dynamic since the end of the Covid-19 pandemic. Two banks, Kuwait Finance House (KFH) and Warba Bank, have made acquisitions that will expand their reach domestically and lay the groundwork for expansion in other regional markets where Islamic banking is not as developed as it is in Kuwait. The passage of Kuwait’s Public Debt Law in March…
With the first half of 2025 witnessing annualised traded values and volumes almost doubling, and its market capitalisation surging by nearly a quarter, this has been a banner year for the country’s stock market, Boursa Kuwait. Indeed, in the first six months of the year, double-digit gains in both Boursa Kuwait’s Main Market and Premier Market allowed the country to outperform all of the GCC’s…
Kuwait’s insurance and takaful (Islamic insurance) sector has shown resilience in recent years, continuing to record profit and policy growth despite an uncertain global economic outlook. The sector is also benefitting from a long-term strategy to strengthen its regulatory framework and consolidate players with greater capitalisation and more transparent governance. In the coming years, further digitalisation,…
