In sandyf

Holding on the myth surrounding Kuwait is clutching at straw. The text of the document “The Impact of the Iraqi Invasion on the Kuwaiti Banking and Financial System: Lessons Learned from a Financial Crisis” is encrypted and cannot be copied. On page 3 it states that after the CBK had determined the currency that had been looted, the 3rd issue of the KD was abrogated as legal tender by Amiri decree, in other words it became invalid. A 4th issue was prepared and ready in December 1990. Only those with a legitimate right to be in possession of the 3rd issue were allowed to exchange that for the 4th issue at a value the 3rd issue had before the occupation.