Despite the rapid growth that Qatar – and its banking sector – has experienced in recent years, the country's government is not resting on its laurels and is actively looking to address issues such as an overcrowding of the market, overdependence on foreign funding and the economy’s lack of diversification. 

The Deals of the Year winners from the Middle East.

Government spending has kept the Saudi Arabian economy buoyant over the past few years, allowing the country's banks to maintain a healthy profit level in 2012. And their prosperity is showing no signs of waning, with an ambitious home ownership target spurring growth in the mortgage market and momentum building in the small and medium-sized enterprise space.

With Lebanon's economy feeling the strains of political infighting and the two-year civil war in neighbouring Syria, its banks have been looking overseas in search of growth, establishing footholds in countries such as Turkey and Iraq, as well as seeking to consolidate their presence in Egypt and the Gulf.

Mohammad Al-Hashel is settling into his role as Kuwait’s central bank governor, taking over responsibility for a banking sector that is well capitalised and highly liquid. 

Kuwait’s banks are looking to external markets as they pursue growth, a strategy that has the potential to strengthen Kuwait’s economic relationships with the countries in which it operates.  

In the past year, political turbulence has dented Kuwait's otherwise healthy economy, with political infighting effectively blocking the government's $130bn economic development plan (EDP). But a new government, elected in December 2012, looks set to put an end to the country's political problems and kick-start the EDP.