Islamic Financial Services

Kuwait Islamic Financial Services

Kuwait’s Islamic Financial Services industry is one of the fastest-growing segments of the financial sector, home to an increasing number of sharia- compliant banks and insurance companies. The emergence of these industries over recent decades has brought sharia-compliant capital to account for a significant proportion of total capital domiciled in Kuwait – around 45%, according to the World Bank, which is the second-highest rate in the GCC. Kuwait has also emerged as a player with weight in the global Islamic finance market. According to professional services firm EY, it is one of a core group of nine countries that account for 93% of industry assets, estimated to have exceeded $920bn in 2015. The World Bank reported that Kuwait’s share of global Islamic banking assets in 2016 was around 5.9% of the total, making it the fifth-largest sharia-compliant banking industry in the world that year.

This chapter contains an interview with Mazin Al Nahedh, Group CEO, Kuwait Finance House.

Cover of The Report: Kuwait 2017

The Report

This chapter is from the Kuwait 2017 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Mazin Al Nahedh, Group CEO, Kuwait Finance House (KFH)
Mazin Al Nahedh, Group CEO, Kuwait Finance House (KFH): Interview