The Islamic banking model is cementing a prominent position in the local banking sector. Five of the 10 Kuwaiti commercial banks operate under Islamic sharia law. The market seems to have spoken in favour of the prudent and transparent nature of Islamic banking. Furthermore, Kuwaiti banks play an important role in facilitating the $100bn national development plan that is currently in motion.
The endeavour aims to bolster the economy through a series of mega projects that will see Kuwait establishing itself as a major attractive market in the region. At KIB, this period is considered a special opportunity to employ the innovative structures already in place at the bank towards the vision pursued by the government.
