When we look at the economies of the Gulf Cooperation Council (GCC)—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—we need to recognize one game changer that has taken place over the past year: lower oil prices. Thanks to the prudent management of their finances over the pa
What do the Olympic Village in London and the Burj Khalifa in Dubai have in common? The answer is Islamic financing, or financing under Islamic principles. Though still accounting for a small share of the global financial industry, Islamic finance is one of its fastest-growing segments, and its pote
Having completed the political transition and weathered the international economic crisis, Tunisia is well placed to now complete the economic transformation that is required to ensure that growth is sustainable, broad-based, and benefits all of its citizens. But not without challenges or setbacks,
Following the sudden collapse in oil prices over the last six months, Algeria is facing its greatest economic challenge since the 1990s, when it was torn apart by civil war. How the country responds in the coming months will be watched closely by other countries in the Middle East and North Africa f
The steep decline in oil prices presents new economic realities for countries in the MENA region. Global oil prices have declined by more than half from their peak last summer, to levels not seen since a short period in 2009. The combination of unexpectedly higher oil production from unconventional
