Islamic Financial Services
From The Report: Kuwait 2024
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Kuwait is one of the largest Islamic finance markets in the world, hosting five Islamic banks and one foreign Islamic bank, eight Islamic investment companies, one Islamic finance company and 14 takaful (Islamic insurance) companies. These segments have seen strong growth since the Covid-19 pandemic and have capitalised on the rapid global expansion of Islamic finance, with sharia-compliant banks growing faster than their conventional counterparts. While sukuk (Islamic bonds) have experienced growth around the world, especially in the green sukuk sector, Kuwait’s domestic market for them has been limited by legislative delays hindering the trading of such bonds on the country’s stock exchange.

This chapter contains an interview with Abdulwahab Iesa Al Rushood, Acting Group CEO of Kuwait Finance House.

Articles from this Chapter

Overview

Spurring growth: Islamic banks are witnessing the benefits of the ongoing regional and global expansion in green financing
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Kuwait is one of the largest Islamic finance markets in the world, hosting five Islamic banks and one foreign Islamic bank, eight Islamic investment companies, one Islamic finance company and 14 takaful (Islamic insurance) companies. These segments have seen strong growth since the Covid-19 pandemic and have capitalised on the rapid global expansion of Islamic finance, with sharia-compliant banks growing faster than their conventional counterparts. Sukuk (Islamic bonds) have experienced growth…

Interview

Playing to strength: Abdulwahab Iesa Al Rushood, Acting Group CEO, Kuwait Finance House (KFH), on economic diversification and opportunities for the domestic Islamic banking segment
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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 projects and the promotion of public-private partnerships (PPPs). Within this context, Islamic…