Middle East

Growth continues for Islamic financial institutions, helped by technology and product innovations.

CEO Nemeh Sabbagh talks about how technology, trade and green financing put Arab Bank at the forefront of change for its client base.

Tighter fiscal policies and oil-output cuts agreed to by the Organization of Petroleum Exporting Countries (OPEC), plus Russia, could cause economic growth in the Middle East region to slow this year. Favorable demographics will underpin long-term growth in the decades ahead, but productivity gains will be slow, economists say. Despite efforts to diversify their economies, the Arab Gulf countries will remain reliant on their oil and gas sectors for years to come.

Putting the war-ravaged country back together will cost $400 billion. With Assad still in power and US sanctions still in place, who will foot the bill—and reap the benefit? 

The emirate’s deep pockets are helping it secure new and deeper trade and investment ties in an end run around the Saudi economic embargo.

ABK-Egypt CEO and Managing Director Khaled El Salawy discusses how technology is making banking easier for consumers and businesses in a fast-growing economy.

Faisal Al Haimus, CEO of Trade Bank of Iraq, talks about his country’s prospects for economic growth—and potential to leap ahead with new technology—as it emerges from hard years.

Abdulla Mubarak Al-Khalifa, Acting Group CEO Qatar National Bank (QNB), talks about the bank’s performance, compliance and expansion plans.

Iraq’s new government must push reconstruction forward, pull in new foreign investment and produce results for a battered population. Its time is limited.

A combination of structural economic reforms, oil and gas development and a recovering tourist sector fuels rapid growth for Egypt.              

The larger lending institutions benefit Gulf governments by attracting foreign investors to finance their megaprojects.

Freddie Baz, general manager and board vice chair of Bank Audi, talks about his bank’s robust performance despite difficult conditions, and government efforts to restore trust.

As some countries struggle with the burden of cheap oil, others pursue fresh growth opportunities.  

As the region’s oil-and-gas dominance faces new challenges, the monarchies are betting that foreign capital will help carry their economies into a more stable, diversified future.  

With more people holding a smartphone than a bank account, the MENA region offers giant opportunities for telcos offering payments and money-transfers. 

Bahrain is nurturing its fintech sector with agile and progressive regulation, seeking to build a strong regional hub for innovation.

Nations compete for foreign direct investment.

Diversification is the biggest challenge ahead but Kuwait can count on a strong financial sector, according to participants in a recent Global Finance roundtable in Kuwait City.

Saudi Arabia has had mixed results in attracting foreign capital.

Will a boost in oil production help Saudi Arabia stick to its plans for economic diversification and fiscal reform?