Standard & Poor’s (S&P) has affirmed its ‘BBB’ insurer financial strength and counterparty credit ratings for Bahrain-based Saudi National Insurance Company (SNIC) while the outlook was revised from stable to negative,
Islamic finance could contribute to meeting some of the sustainable development goals adopted by the UN General Assembly under its 2030 agenda, said Standard & Poor's Ratings Services in a report.
Agreed on in September 20
Standard & Poor’s, the international credit rating agency, affirmed the long-term credit ratings of National Bank of Kuwait (NBK) at A+, with all ratings carrying a stable outlook.
“Our outlook on NBK is stable, re
Global sukuk issuance is expected to reach $50 billion$55 billion in 2016, compared with $63.5 billion in 2015 and $116.4 billion in 2014, a Standard & Poor's Ratings Services report said.
Absent its biggest issuer, the gl
Forty per cent of men in the GCC are financially literate in comparison to 36 per cent of women as against two-thirds of adults worldwide not being financially literate, according to a Standard & Poor’s report.
Growth in Islamic finance will likely slacken in 2016, dropping to single digits from between 10 per cent and 15 per cent over the past decade, according to a Standard & Poor's Ratings Services report.
Governments in core
Banks in the GCC, which reported a good set of gains in the first half of 2015, could see a weakening in earnings over the next several quarters due to the knock-on effects of lower oil prices on growth and asset quality, a report said.
The current low price of crude oil and natural gas is unlikely to have a widespread impact on the credit quality of global project finance debt over the next year to 18 months, a report said.
However, if prices remain in the $50 p
Liquidity management instrument offerings remain limited in Islamic finance, but Basel III's liquidity coverage ratio is likely to create opportunities for their growth, a Standard & Poor's report said.
Most Islamic ba
Banking systems in Bahrain and Oman are more vulnerable to the recent drop in oil prices than those in the rest of GCC due to their highly oil-dependent economy where the budget breakeven price is significant, a report said.