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Volume :26 Issue : 96 2000      Add To Cart                                                                    Download

MONEY DISTRIBUTION IN KUWAIT DURING THE IRAQI OCCUPATION

Auther : Dr. Yousuf H. Al-Ibrahim

 

The Iraqi occupation of Kuwait in 1990 represents one of the harshest periods in Kuwait’s history.  However, research to document this period is still in its early stages.  In contribution to documentation of this period, this paper attempts to archive the economic and financial aspects conditions inside the occupied Kuwait.  In order to achieve this objective, Section One presents the economic and financial conditions in Kuwait at the beginning of the occupation, surveying economic activities, money markets and Kuwaiti Dinar exchange rates.  In section two, the paper reviews the developments in financial and economic conditions during the period of occupation wherein the political and military events had an effect on such conditions.  Section three attempts to document in some details, money management and distribution in Kuwait where civil society institutions and individuals put their hands together to build an underground network that collected money from merchants and co-ops vis-à-vis issuing bonds guaranteed by the Kuwaiti government in exile.  This money was distributed to Kuwaiti families inside Kuwait to help them survive the occupation and remain in Kuwait.

 

          The Methodology that has been followed in this paper was upon interviews with key players of the period as well as available documentation.

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May 18, 2017

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