Higher oil prices and a successful vaccination programme have eased pressure on Bahrain's economy. However, as Kit Gillet reports, questions remain about whether the country can meet its deficit reduction targets.
After being hit hard in the early days of the pandemic, Bahraini lenders are cautiously optimistic about growth prospects for 2022.
Protected from the worst of the Covid-19 pandemic by the central bank, UAE's stable banking sector faces asset quality challenges and profitability pressures. Is further M&A on the cards?
On the runway to launch, the CEO of the UAE's new digital-only bank talks about its plans to attract customers in a competitive market.
Already one of the most dynamic economies in the Middle East, the UAE is continuing to pass bold reforms to attract investment and talent from around the world.
Abu Dhabi's goals will be realised through pivoting the economy towards technologies and new economic sectors, says the chairman of the Abu Dhabi Department of Economic Development.
Sunil Kaushal, Standard Chartered's regional CEO for Africa and the Middle East, speaks to John Everington about the outlook for GCC economies in 2022, oil market predictions, and the Middle East's growing trade links with Asia.
Fostering an innovative and competitive financial services sector requires a forward-thinking central bank to establish a strong regulatory framework.
National Bank of Kuwait, the largest bank in the country, saw return on assets fall to 0.87% in 2020.
Two of the four largest lenders in the Gulf country posted a loss last year.
Arab Bank, the country’s largest lender, saw bad loans increase to 6.8% of its total loan book in 2020, while Jordan Islamic Bank, the fourth-largest bank by assets, saw its NPL ratio drop to 2.6%.
Mizrahi Tefahot Bank, the country’s third largest lender by assets, saw its mortgage book expand by 24% year on year in 2020.
The country’s two largest banks saw gross total loans increase by about 37% between 2016 and 2020.
After a period of decline and delisting for the region’s exchanges — apart from Saudi Arabia — hopes are now high of a rebound.
The National Bank of Oman saw return on equity fall to 3.4% last year from 9.3% in 2019.
Financial services foreign direct investment rose in 2020 despite the pandemic and has remained robust this year on the back of generous state support.
The central bank implemented targeted support measures last year to ease pressure on companies and provide banks with liquidity.
Digital-only banks in the Gulf Co-operation Council are experiencing a boom.
Astyanax Kanakakis, chief executive of norbloc, on how its digital onboarding system has simplified the account-opening process.
Hanan Friedman talks about digital strategy in the lockdown age and the opportunities created by the Abraham Accords.