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Coll 30/116 'Kuwait: establishment of a bank' [‎15r] (32/493)

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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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2 -
ARTICLS 4• When the hank wishes to export gold and silver
coins or bullion they must obtain permission from the Kuwait
Government, giving details of the shipment, the value, the
means of transport and place of destination* such permiss ion
shall not be unreasonably withheld
ARTICLE 5« When the Kuwait Government requires for their
own use drafts on India for a reasonable amount, say not
exceeding Rupees Indian silver coin also widely used in the Persian Gulf. 1,00,000 a month, the rate shall be at
j»ar. Drafts other than rupees Indian silver coin also widely used in the Persian Gulf. shall not be calcula ted
at a rate worse than the best rate ruling that day•
ARTICLE 6* If the Kuwait Government requires a loan, not
exceeding Rupees Indian silver coin also widely used in the Persian Gulf. 3 lacs One lakh is equal to one hundred thousand rupees , for a period of six to 12 months
the Bank is to undertake to comply with the request* The
rate of interest chargeable to be 2 per cent* per annum*
Note* it is agreed that this article shall be in abeyance
during such time as the United jiingd om is engaged in the
present war *
ARTICLE 7*t The Manager of the Bank in Kuwait must be
(tIus M>'Jk IS SKcJiL article
ARTICLE 8* Kuwaitis should be employed as clerical staff.
3^7 if available, otherwise British subjects or nationals under
British protection should be employed until such time as
the Kuwaitis, in the discretion of the Bank, are capable
of carrying on.
ARTICLE 9. *f the Bank require guards they will be
provided by the Kuwait Government, their wages being paid
for by the Bank*
ARTICLE 10* The Bank must observe the Moslem's general
holidays. In case of uncertainty the Government of Kuwait
should be referred to on the subject*
/ ARTICLE 11.

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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' [‎15r] (32/493), British Library: India Office Records and Private Papers, IOR/L/PS/12/3845, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100076717888.0x000021> [accessed 19 April 2024]

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