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ONFIRM FOUNDATIONS Steadily rising oil prices, a stable economy and the implementation of the National Development Plan are causing ripples of optimism in Kuwait.

gooernor tells The Banker how he expects more growth in the Islamic banking sector and an increase in gooernment spending, both of which will prooe beneficial to the country's economy.

18

COMPETITIVE

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~i~!~~ance starting to pick up again in the Kuwaiti banking sector, and strong grototh. potential both in the domestic market and in neighbouring Iraq, thL small rouni:ry isfinding itself thefocus aI an increasing number oflenders, with competition among them. growingfierce.

14

AN ISLAMIC BANKING VISION

With a number ofinnovative lenders competing in Kuwait's Islamic banking sector, and support from. the country's central bank, it looks as though the industry can only become a more promineni fixture on thefinanciallandscape.

I REPORT

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technological capacity and a new external regulator increasing transparencp, hopes are high that there will soon be a healthy pipeline of deals for the Kuwait Stock Exchange.

DIGGING DEEP

19

Kuwait may lay claim to more than 5% ofthe world's total oil reseroes, but without the expertise and equipment needed to tap into the bulk of this, the countru is struggling to realise its eneTgy potential.

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RESULTS OF OUR RECENT STRESS-TESTING EXERCISE AFFIRM THE RESILIENCE OF OUR BANKING SYSTEM TO WITHSTAND MAJOR SHOCKS

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Mohammad.Al-Hashel;

page 16 ••

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reference

April 2014

I THE

BANKER

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1