Over the past five years, the Kuwaiti economy has been undergoing a phase of substantial development. Progress has been achieved in the national political structure, and infrastructure projects have been successfully completed in increasing numbers year-on-year, with 2015 looking set to continue the trend.
Kuwait City: Commercial Bank of Kuwait, the Gulf state’s fifth largest lender by assets, said a majority of shareholders had approved a plan to convert the bank into a full-fledged Islamic lender.
A top executive from Airbus has said that western lenders are stepping back from aircraft financing and Asian and Middle Eastern lenders are stepping into the gap. The $100 billion aircraft financing market is facing a withdrawal by western lenders due to stricter legislation and the liquidity crunch.