Routledge The Gulf Stock Exchange Crash - Souq Al-Manakh

Explore one of the most significant financial events in recent history with this Routledge Library Edition. This book examines the spectacular collapse of the Souq Al-Manakh in Kuwait during August 1982. It provides a detailed look at how a parallel stock exchange, dealing in the shares of Gulf companies not resident in Kuwait, grew at a phenomenal rate through 1981 and early 1982. Readers will learn about the manic speculation that drove the market and how inexperienced investors gambled massive sums on shell companies. The text covers the extreme scale of the crisis, noting that at the height of the market, USUSD92 billion was outstanding on nearly 30,000 postdated cheques. This account offers a deep look into the mechanisms of the market and the consequences of the sudden crash. It is an essential read for those interested in business and economic history, specifically regarding the financial landscape of the Gulf region.