Sheikh Abdullah Al-Salem Al-Sabah and his economic role in Kuwait 1895-1965

Abstract

Sheikh Abdullah Al-Salem Al-Sabah played an important role in the development of the Kuwaiti economy by amending the oil agreements, after he saw that what happened to his family in Kuwait was only crumbs from its production, this led to an increase in Kuwait's oil income, and when the economic circumstance became ready, he made a decision to issue An independent national currency, and it became one of the strongest monetary currencies in the world. He also coordinated his efforts with merchants and worked to establish banks for the purpose of developing Kuwait. His activity did not stop there, but he developed agriculture and conducted scientific experiments to cultivate dry lands and tried to solve the problem of lack of water with the Iraqi government. Trade by reducing customs duties and eliminating them on foodstuffs and consumer goods, and besides that he supported by providing cheap loans for those wishing to establish new factories and facilities from Kuwaitis, and providing lands to merchants at symbolic prices to set up factories without exorbitant cost, and continued in the process of adeveloping the Kuwaiti economy until his death In 1965.