A global deal to cut oil production and rebalance the market is good news for Kuwait – but it expires after six months. Can the country’s oil business expand its way to stability? Kit Gillet reports.
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Kuwait enjoys a stable economy and respectable GDP, but as government attempts to transform the country into a regional hub for commerce and finance begin to affect its citizens, will opposition parties derail planned reforms? James King reports.
Mohammad Al-Hashel, the governor of the Central Bank of Kuwait, talks to James King about his efforts to strengthen the bank's supervisory capacity, meet the challenges of adopting IFRS9 and ensure the continued stability of the banking system.
Dr Hamad Al-Hasawi, secretary general of the Kuwait Banking Association, talks to James King about the country’s drive to become an Islamic finance hub, and how PPP project financing will bring further opportunities.
The governor of the Central Bank of Kuwait, Mohammad Al-Hashel, tells James King about his efforts to maintain exchange rate stability, prevent banks from becoming over-reliant on the real estate industry, and create a sukuk-friendly environment in the country.
With its unresolved dispute with Saudi Arabia over the so-called 'neutral zone' rumbling on, record-low oil prices and the possibility of an Organisation of the Petroleum Exporting Countries-imposed production freeze, Kuwait's oil industry is under pressure. Still, the country remains committed to investments in the sector.
Kuwait's economy has come under pressure in the past year, mainly due to falling oil prices. But, with the help of healthy sovereign reserves, the country has weathered the difficulties well, and the government remains committed to its long-term development plan.
The director-general of the Kuwait Direct Investment Promotion Agency tells James King how the country's opening up to foreign investment and the liberalisation of its economy is helping to alleviate the impact of the oil price crash.