Islamic Finance in Kuwait - Broadening Horizons

Now with a new era of lower-for-longer crude prices, Kuwait’s leaders and institutions have launched an integrated development plan that will diversify and expand the economy, reduce the reliance on hydrocarbon receipts, and establish the country as a global leader across multiple disciplines

Staff Writer, Zawya Islamic Finance

September 5, 2022

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Central to economic growth is financial services, in particular Islamic banking, for which Kuwait already is internationally recognised.

Kuwait’s Islamic banks are poised for another bumper year supporting the country’s economic growth and meeting residents’ banking needs. Financing growth is accelerating but non-performing financing is in decline, an indicator of the prudent approach of Sharia-compliant banks under the astute stewardship of the CBK, which has helped Islamic banks achieve record profits.

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