Salem Abdul Aziz Al Sabah

Kuwait saturated with Islamic banks, cenbank head says

Sheikh Salem Abdul Aziz Al Sabah told Arabic language daily Al Seyassah that there were five Kuwaiti Islamic lenders registered with the central bank and five conventional banks. Saudi Arabia's Al-Rajhi Bank, one of the biggest Islamic lenders in the Gulf, also operates in Kuwait. Independent analyst Ali al-Nimesh said while the current view of saturation may be accurate, demand could pick up in coming years.

Syndicate content