As political and social unrest spreads across many countries in the Middle East and north Africa, Kuwait – the Gulf region's only democracy – is making progress across many fields in a quiet and efficient manner.
Funding retirement presents a challenge for governments in the Middle East and north Africa because of the vast numbers of people who will reach retirement age in the next 40 years – but it also offers opportunities for financial services providers.
Sheikh Salem Abdul Aziz Al-Sabah, central bank governor of Kuwait, tells The Banker about the next steps in the country's economic development plan and how a regional single currency can become a reality.
With a reputed $200bn under management, the Kuwait Investment Authority has been moving away from its traditional reliance on blue-chip stocks, but will its new enthusiasm for active investment pay off?
Oil companies are looking to Kuwait's government for signs that the country's major energy projects are to get under way, but legislative deadlock is hampering their future.
The unrest across the Arab world and the subsequent rise in oil prices have impacted upon Kuwait, but the tiny Gulf country seems well insulated from such issues, thanks in part to its government-approved $100bn development plan.
The past year has seen the performance of Kuwait's banks vary. All, however, are hoping that the government-approved $100bn development plan will help breathe new life into the sector.
