After ratings downgrades a year ago, the Kingdom of Bahrain has worked to diversify revenue sources while maximizing the benefits of its strong relationship with Saudi Arabia.
Our annual awards illustrate how shariah-compliant institutions are expanding into new markets, even in the non-Islamic West, and taking up the global call for “inclusive growth.”
Islamic finance has great opportunities to gain market share, says Endy Abdurrahman, CEO of Bank Muamalat Indonesia.
Investors snapped up Saudi Arabia’s debut international sukuk, a type of Islamic financing gaining popularity worldwide.
CEO Nemeh Sabbagh talks to Global Finance about how Arab Bank combines careful management with innovation in a region facing a challenging environment.
Nomu, a new Saudi equity market, will have lighter listing requirements than Tadawul, deepening the Saudi capital market with an alternative platform.
Amazon enters Arab markets of the Middle East / North Africa region by buying up Souq.com, an established online retailer.
Dato’ Mohamed Rafique, head of Maybank’s Islamic Banking Group and CEO of Maybank Islamic Berhad, explains how Islamic finance is contributing to the bank’s growth.
Global Finance Magazine’s 2017 rankings of the best banks in the Middle East.
The need for economic diversification has never been greater, as governments around the Gulf look to shore up oil-depleted revenues and boost job prospects for their fast-growing populations.
The Middle East has faced numerous economic and political challenges in the last few years, but to its credit, it has weathered them reasonably well. That is due in part to the considerable oil wealth that characterizes countries throughout the region; although lower oil prices in the last two years have significantly impacted fiscal revenues, particularly in the larger more-oil-dependent economies such as Saudi Arabia.
Three women advancing to the top levels of the Saudi Arabian finance sector show the kingdom making progress in improving work opportunities for women.
The Kingdom of Morocco now allows participative finance. On January 2 the central bank, Bank Al-Maghrib, issued authorizations for five banks to begin commercializing shariah-compliant products and services.
Saudi Arabia's Public Investment Fund (PIF), which is expected to exceed $2 trillion in 2018, is slated to play a major role in diversifying the Saudi economy, with big investments in a technology, healthcare and other sectors.
The desert kingdom's bold plans to boost the private sector and diversify away from oil include a little more government spending this year.
With the worst of its financial pressures behind it, Saudi Arabia is forging ahead with its ambitious Vision 2030 development plan to diversify away from oil dependency and stimulate demand.
In early 2017 the Commercial Bank of Dubai will launch CBD NOW, the UAE’s first digital-only bank. The new bank is based entirely online and will offer all the services a regular bank does.
Low oil prices are forcing the country to build up other sectors—most notably healthcare—to shore up its ability to weather economic storms.
Michel Accad, who took over as CEO at Al Ahli Bank Kuwait in May 2014, talks to Global Finance about why the Kuwait banking system remains solid despite falling oil prices and other pressures.
Interview with Sulaiman Al-Marzouq, head of treasury at National Bank of Kuwait, about changes in Gulf economies and NBK’s role in development.