Sheikhdom of Kuwait and Kuwait. (The British and Soviets would invade the neighbouring Iran in September of that year). Sheikhdom of Kuwait The Sheikhdom of Kuwait ( "") was a sheikhdom which gained independence from the Khalidi Emirate of Al Hasa under Sabah I bin Jaber in the year 1752. The Sheikhdom became a British protectorate between 1899 and 1961 after the Anglo-Kuwaiti agreement of 1899 was signed between Sheikh Mubarak Al-Sabah and the British government in India due to severe threats to Kuwait's independence from the Ottoman Empire. Kuwait was founded in 1613 AD as a fishing village known as Grane (Kureyn).
Historiography of the fall of the Ottoman Empire in the Balkans hastened the slide into bankruptcy. After negotiations with the European powers, the Public Debt Administration was set up, to which certain revenues were assigned. This arrangement subjected the Ottomans to foreign financial control from which they failed to free themselves, in part because of continued borrowing. In 1914, the Ottoman debt stood at 139.1 million Turkish pounds, and the government was still dependent on European financiers Why had the Ottomans not developed their own financial system in line with London and Paris? It was not for the want of trying. Since the beginning of the 18th century,