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Coll 30/116 'Kuwait: establishment of a bank' [‎14r] (30/493)

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The record is made up of 1 file (244 folios). It was created in 12 Feb 1935-23 Apr 1944. It was written in English. The original is part of the British Library: India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. Records and Private Papers Documents collected in a private capacity. .

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' (o
BAliigITG B&Trf&hls Tna SHAIKH Cg KUWAIT
AND TH3 1MPBHIA1 3AXK. Off IK AS DAT BD 18 TH DBG BI'BBH,
1941.
©
y°"S
ft*. ^* r '
IN THE NAME OP GOD THE EBRCIFUI-
THIS IS AN AGREEl^ENT made at Kuwait on the 18 th
day of December in the year 1941 corresponding to 29th
Dhil Kadeh 1360 between His Highness Shaikh Sir Ahmad
si Jabir as Subah > Knight Commander of the Most
Eminent Order of the Indian Empire and Companion of
the Most Exalted Order of the Star of India, the
SHAIKH CE KUWAIT in tne exercise of his powers as
Ruler of Kuwait on nis own behalf of his heirs and
successors in whom is or snail oe vested for the
time being tne responsibility for tne control and
Government of the State of Kuwait and tne IMPERIAL
ir\ctfs.^ Arv.r<**v\ ky
BANK OE IRAN a Company tH- gi —in a re’at—Bri-tg i n »
R^(a/ Cl\asJZ*>
jmd op— tne—QgiTip-nie o Aot >—I'Jits successors and
assigns ihereinefter called H tne Bank” )•
ARTICLE 1 . ^a). The Bank is to undertake banking
transactions on behalf of the people of Kuwait on any
place abroad.
^b) The Bank should charge a reasonable
rate of exchange on drafts.
^c) The rate of interest chargeable by
the Bank should be similar to that ruling in Iraq.
ARTICLE The recognised currency will be Indian
Rupees Indian silver coin also widely used in the Persian Gulf. , and tne oasis of tne Bank’s business snould
oe in conformity witn tnis currency.
ARTICLE 3. Payments to tne public should be made
in tne Indian legal currency, i.e. Rupees Indian silver coin also widely used in the Persian Gulf. .
/
ARTICIS 4
^

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Content

This file consists of letters, telegrams, memoranda, intelligence summaries, and drafts between officials on behalf of the Government of India and the officials of the Ottoman Bank, the Eastern Bank Limited and the Imperial Bank of Iran regarding the opening of a bank in Koweit [Kuwait].

In addition, the file contains discussion of the terms and conditions of the opening of the bank, as well as details of the decision of the Shaikh of Kuwait [Shaikh Aḥmad al-Jābir Āl Ṣabāḥ] regarding the possible opening of the bank. Notable correspondents include the following: Permanent Under-Secretary of State for India and Burma; Government of India’s External Affairs Department; Foreign Office; British Legation, Tehran; Political Agent A mid-ranking political representative (equivalent to a Consul) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Agency. , Kuwait; Political Resident A senior ranking political representative (equivalent to a Consul General) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Residency. , Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. ; British Consulate at Bushire; Shaikh of Kuwait; officials acting on behalf of the Bank of England, the Ottoman Bank, the Imperial Bank of Iran and the Eastern Bank Limited.

In addition to correspondence, the file covers the following: conditions required for the establishment of a branch at Kuwait (ff 149-150); the redrafting in banking phraseology of the Shaikh’s conditions by the Manager of the Eastern Bank, Basra (ff 112-113); required terms for the opening of the bank at Kuwait (ff 86-87); a banking agreement between the Shaikh of Kuwait and the Imperial Bank of Iran, dated 18 December 1941 (ff 14-17); and an alteration to the banking agreement between the Shaikh of Kuwait and the Imperial Bank of Iran, also dated 18 December 1941 (f 5).

The file includes a divider which gives the subject number, the year the subject file was opened, the subject heading, and a list of correspondence references by year. This is placed at the back of the correspondence.

Extent and format
1 file (244 folios)
Arrangement

The file's contents are arranged in approximate chronological order from the rear to the front of the file.

Physical characteristics

Foliation: the foliation sequence (used for referencing) commences at the inside front cover with 1, and terminates at the last folio with 245; these numbers are written in pencil, are circled, and are located in the top right corner of the recto The front of a sheet of paper or leaf, often abbreviated to 'r'. side of each folio. A previous foliation sequence, which is also circled, has been superseded and therefore crossed out.

Written in
English in Latin script
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Coll 30/116 'Kuwait: establishment of a bank' [‎14r] (30/493), British Library: India Office Records and Private Papers, IOR/L/PS/12/3845, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100076717888.0x00001f> [accessed 28 March 2024]

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