History of Kuwait late 16th century, the Portuguese built a defensive settlement in Kuwait. In 1613, the town of Kuwait was founded in the present-day location of Kuwait City. Kuwait was initially under the control of the Bani Khalid clan, who built a fishing village in present-day Kuwait Bay. The beginning of the eighteenth century witnessed the contention of Kuwait by the Bani Utub confederation. They migrated to Kuwait in 1682. As a result of successive matrimonial alliances, they were able to wrest control of Kuwait sometime after the death of Barrak Bin Urair [Bani Khaled] and the fall of the Bani Khaled
Economy of Kuwait Economy of Kuwait Kuwait is a small, petroleum-based economy. The Kuwaiti dinar is the highest-valued unit of currency in the world. Non-petroleum industries include financial services. According to the World Bank, Kuwait is the fourth richest country in the world per capita. Kuwait is the second richest GCC country per capita (after Qatar). Kuwait has a leading position in the financial industry in the GCC; the abyss that separates Kuwait from its Gulf neighbors in terms of tourism, transport, and other measures of diversification is absent in the financial sector. The Emir has promoted the idea that Kuwait should focus