IslamicFinance.de

Fitch Ratings says tougher operating conditions in Kuwait and the region will translate into slower growth for Islamic banks during the year, albeit in line with industry trends. The Islamic Banks Dashboard published today covers Kuwait's Islamic banking sector comprising five banks (out of 10 domestic banks) which hold a total market share of 39% (by assets). Fitch believes that Islamic financing growth will moderate in 2016 due to a sharper-than-expected fall in oil prices and the resulting impact on the economy and business environment. The sector is, however, expected to remain profitable despite weaker operating income and higher impairment charges.