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Coll 30/116 'Kuwait: establishment of a bank' [73r] (148/493)
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.
INDEXED
-!LE COPY
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Confidential.
JM r
I b / D
If ^
D.O.Ho.C/270
of Jhe
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.
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Persian Gulf
The historical term used to describe the body of water between the Arabian Peninsula and Iran.
,
Canp, Kuwait•
Dated the 21st March, 1940.
My dear Gibson,
Would you please refer to your letter JMo.F.Z.7588/37,
dated the 8th December 1937, regarding the proposed branch
of the Eastern Bank at Kuwait ?
2. You 7 /ill have noticed in the recent sulphur concession
that a possible "National Bank" is contemplated. I need harUy
say that any attempt to run a State bank here v/ould be an
utter failure and normally there v/ould be little risk of
anyone trying to establish one. The Shaikh will, hov/ever,
soon be getting large accessions of capital from the huwait
Oil Company and his share of the Date Gardens compensation,
and it is possible that he may have some idea of risking it
in such an enterprise.
3, Things have changed very much since 1937. The Kuwait
Oil Company is no longer a "wild cat proposition" but has
found oil in very large quantities and the sooner the Eastern
Bank get in the better. They have given satisfaction in
Bahrain, and if v/estern banking is to be introduced it must
be done properly by well established and reliable concerns.
If they do not establish a branch here there is a risk that
some half baked concern such as the Arab Bank of Palestine,
who tried to get in before, may get in first.
4, V/ould you very kindly have the Eastern Bank approached
and see whether they are prepared to come in ? it seems
' _ / that
J,P.Gibson Esquire,
The
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.
,
London.
| RECa. i
i . r. 940
I OFPtCf;
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' [73r] (148/493), British Library: India Office Records and Private Papers, IOR/L/PS/12/3845, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100076717888.0x000095> [accessed 14 May 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