Abu Dhabi’s Al Hilal Bank is the safest Islamic bank in the six GCC states, replacing Al Rajhi Bank of Saudi Arabia, which falls to seventh position following downgrades prompted by the downgrading of the Saudi government. Kuwait Finance House ...
With mounting payment obligations and a worsening balance of payments, Pakistan has returned to the Islamic bond market after a two-year hiatus. In early October, Pakistan mopped up $1 billion through a dollar-denominated Islamic bond with a five-year tenure.
Beirut aims to become the number-one hub in the Middle East for young entrepreneurs, so the Lebanese Central Bank recently added $200 million its 2013 promise to guarantee $400 million in investment in the knowledge economy.
Sparkling office towers won’t draw business without the right policies.
These are exciting times for the nations of the Gulf Cooperation Council (GCC), as the decline in oil revenues is forcing them to finally make dramatic changes to their oil-based economies.