Mubarak Al-Sabah broke the Ottoman hold over the Persian Gulf. Other rulers in the Gulf were inspired or influenced by Mubarak to take similar actions, many allying strongly with the British. Mubarak established not only the foundations of modern Kuwait but was a key person in the establishment of the modern Persian Gulf. Mubarak Al-Sabah Sheikh Mubarak bin Sabah Al-Sabah, KCSI, KCIE (1837 – November 28, 1915) () "the Great" was the seventh ruler of Kuwait from May 18, 1896 until his death on November 28, 1915. Mubarak ascended the throne upon killing his half-brother, Muhammad Al-Sabah. Mubarak was the seventh ruler
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,