Kuwait ? Kuwait is quite the powerhouse now.  Investment has been pouring into the gulf country at a rapid pace. From Bloomberg - Kuwait’s graduation to emerging-markets classification by index compiler FTSE Russell could prompt inflows of as much as $700 million from investors, according to the money manager run by the nation’s largest lender.

MSCI Kuwait Index Constituents:

NATIONAL BANK OF KUWAIT - Financials 

KUWAIT FINANCE HOUSE - Financials 

MOBILE TELECOM CO - Telecom Srvcs 

AGILITY - Industrials 

MABANEE CO SAKC - Real Estate 

BOUBYAN BANK - Financials 

BURGAN BANK - Financials 

KUWAIT PROJECTS CO HLDGS - Financials

From Focus Economics: Kuwait’s economy, which has suffered from weaker oil production this year, faces political instability as the year draws to a close. On 30 October, the prime minister and his entire cabinet resigned. Re-appointed by the emir, the prime minister is now in the process of forming a new cabinet. On 15 November, following a staff visit, the IMF highlighted that the country’s fiscal position remains vulnerable and dependent on transfers from its financial reserves. However, it also noted the non-oil sector stands to improve this year, moderating the expected economic contraction due to a weaker oil sector. On 21 November, Iraq agreed to resume compensating Kuwait for costs related to the 1990–1991 Gulf War, which should provide a slight fiscal dividend over the coming years.


A pick-up in the oil sector on higher oil prices should benefit the economy next year, which will also be boosted by resilient private consumption. Our panel expects GDP to increase 2.5% in 2018, which is unchanged from last month’s estimate. For 2019, panelists see GDP growth of 3.2%.
Inflation rose from a 13-year low of 0.5% in September to 1.4% in October as a result of a positive base effect. Panelists expect inflation to average 3.0% in 2018 and 3.3% in 2019.

Official name: State of Kuwait
Capital: Kuwait City (0.6m)
Other cities: As Salimiyah (0.15m)
Sabah as Salim (0.14m)
Area (km2): 17,818
Population (million, 2016 est.): 4.2
Population density (per km2, 2016): 237
Population growth rate (%, 2016 est.): 2.8
Life expectancy (years, 2016 est.): 78.0
Illiteracy rate (%, 2015): 3.7
Language: Arabic
Measures: Metric system
Time: GMT+3

When all else fails, look to the east - the Middle East! London has been replaced by Asia, and now with a looming Sharia Standard taking place, Gold is still staying as vigilant as ever worldwide.

Gold is not a great investment. In modern times it has made many people money, but that is from volatility, market making and speculation. As for holding value, there are numerous out looks on that.

However, if Indian's continue to flock into the Middle East, and or if the Middle East deals gold out to India and South East Asia then it all makes sense. The funny thing is that gold seems to have lost its luster in English speaking countries. Gold is also a terrible inflation hedge. (See ZermattResearch.com & NBER Slide)

I think Gold is overweight. $700.00 per troy oz is where is should be.  - Chad Hagan


Sharia Gold Standard Link
As the Islamic financial services market grows in size and importance, so does the need for a greater understanding of the intricate matters of Islamic financial services and the application of Shariah guidance. The Islamic financial services industry is also witnessing greater implementation of internationally recognized and standardized Islamic finance guidance. - Shariah Standard on Gold

“Gold has motivated civilizations through the centuries to aim higher and strive harder. Gold is more than just a financial asset; it is an integral component of human life. "
-Dr. Hamed Hassen Merah, 
Secretary-General
Accounting and Auditing Organisation of Islamic Financial Institutions