Oil prices may have dropped, but Kuwait is investing heavily in the hydrocarbons sector this year in a bid to meet an ambitious production target. James King reports.

Despite its small size, Kuwait has long been a key player within the global Islamic finance industry, and with its sharia-compliant institutions posting strong figures in 2014, this position only looks likely to strengthen.

Kuwait’s banks are slowly recovering from the global financial crisis and bankers are optimistic for 2015. However, issues remain, including high exposure to the real estate market, outstanding debt settlements and a funding shortfall for the country’s SMEs. 

The dual blow of declining oil prices and increasing instability in neighbouring Iraq hit the Kuwait Stock Exchange hard in 2014. But hopes are high that it will rally in 2015, after a modest rise in the weighted index in January. 

The governor of Saudi Arabia’s central bank, Dr Fahad Al-Mubarak, sees growth potential in consumer banking and SMEs, and is helping banks better cater to these sectors. 

Despite facing budgetary pressures and a falling oil price, Hamood Sangour Al Zadjali, Oman's central bank governor, is optimistic over the country's future, describing to James King how directives to encourage SME lending and bring about a harmonious Islamic banking sector will bring huge benefits.

Unlike some of its more illustrious neighbours, Oman's banking sector was barely affected by the global financial crisis, thanks in no small part to its domestic focus and cautious central bank. However, while the short-term prospects are strong, a plummeting oil price and increasing competition at home pose longer term challenges.

US shale production has significantly altered the landscape of the global energy market. Ahead of the Institute of International Finance's annual spring meeting in Qatar, James King looks at how OPEC is responding to this seismic shift.

The Middle East's private equity market had a successful year in 2014, with several notable deals, a number of vehicles closing their fundraising and increased international interest in the market. James King investigates how likely it is that its popularity will extend into 2015.

Encouraging growth in the non-hydrocarbon, SME and retail sectors have all contributed to what has been a largely successful year for the United Arab Emirates' banking sector.