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Coll 30/116 'Kuwait: establishment of a bank' [42v] (87/493)
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. .
Transcription
This transcription is created automatically. It may contain errors.
3. The previous efforts of the Imperial Bank to.
establish itself in Koweit have not gone very far. T-he
tentative nature of their enquiries in 1935 may be gathered
from the oapers at P.Z.1777/35, 5214/35 and 7876/35j anl e
have no papers about the representations of 1938 mentioned in
Ir, Hale 1 letter. Their inexperience may therefore have led
them to make a proposal which there is small cnance of the
f heikh f saccepting; but it seems as well to out it to the
Political Re-sident who is anxious to do everything possible
to help them to establish themselves.
4. Throughout these papers emphasis has been laid on
the necessity of laying down as one of the conditions lor
the establishment of a Bank that it should employ only
Koweitis, British subjects or British protected persons.
The Sheikh has accepted two articles (nos. 7 and 8 )
embodying this condition (see P.Z .8362/37); and it is
elsewhere stated that he is particularly anxious that the Bank
employees should not be Iraqis. Mr. hale s letter contemplate^-
a British Manager who would, however, be assisted by an Irani
or Iraqi staff. I have pointed out to him that this may lead
to difficulty. He has replied that of late years the policy
of his Bank has been to recruit the nationals .of the countries
in which they operate, a tendency which has been accelerated
by recent Iraqi legislation relating to trades and professiono.
They have, however, a number of Indian clerks and he feels
sure that this difficulty can be overcome. He recommends that
the words ,f Irani or lraqi ,? in his letter should be replaced by
the word clerical” .
5. When he visited this Office the other day, Mr. Hale
mentioned that when his -^ank previously considered^ the
question of opening at Koweit, the Foreign Office had said
that their name and their connection with Persia might be an
objection. Colonel Fowle, howeverthought that this was not
in any way a definite bar (see his telegram of July 23rd, 1935
at P.Z. 5032/35). Since Colonel Prior has himself suggested
an approach to the Imperial Bank, he is apparently of the same
opinion.
6 . Up to February 1937 we dealt with this question in
close consultation with the Foreign Office; since then they
have never come into the picture. I doubt whether it is
necessary/
About this item
- 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 View the complete information for this record
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Coll 30/116 'Kuwait: establishment of a bank' [42v] (87/493), British Library: India Office Records and Private Papers, IOR/L/PS/12/3845, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100076717888.0x000058> [accessed 24 April 2024]
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Copyright: How to use this content
- Reference
- IOR/L/PS/12/3845
- Title
- Coll 30/116 'Kuwait: establishment of a bank'
- Pages
- front, front-i, 2r, 245v, back, 2v:4v, 6r:9v, 11r:11v, 13r:13v, 18r:22v, 24r:47v, 50r:51v, 53r:57v, 59r:62v, 64r:66v, 68r:69v, 71r:76v, 78r:84v, 88r:108v, 115r:133v, 135r:147v, 151r:178v, 181r:192v, 194r:213v, 217r:220v, 222r:223v, 225r:230v, 234r:234v, 238r:239v, 239v:245r
- Author
- East India Company, the Board of Control, the India Office, or other British Government Department
- Usage terms
- Open Government Licence