Kuwait pays homage to leading economist Fakhri Shehab
Shehab, who died at 101, is credited with converting currency from rupee to dinar
Cairo: Tributes have poured in Kuwait to the country’s late prominent economist Fakhri Shehab, who converted Kuwait’s currency from the rupee to the dinar.
Shehab passed away earlier this week at age of 101.
The dinar was endorsed as Kuwait’s national currency in 1960.
Kuwait’s Emir Sheikh Nawaf Al Ahmad condoled with Shehab’s family, highlighting his economic contributions in the country.
“The deceased had an eventful life of dedication and contributions to the economic set-ups in the country, especially his role in converting the currency from the rupee to the Kuwaiti dinar,” the Emir said in a condolence cable.
Kuwait’s Crown Prince Meshal Al Ahmad also offered condolences over Shehab’s death, praying to Allah to confer His mercy on him and make Heaven his abode, Kuwaiti media reported.
Born in the Iraqi city of Basra in February 1921, Shehab obtained a PhD in economics from University of Oxford.
He obtained the Kuwaiti nationality in 1959 and had strong links with ex-Kuwait emir Sheikh Jaber Al Ahmad, who died in 2006.
Shehab held several posts including an advisor to the Kuwaiti government and acted as an economic link between Kuwait and the outside world, according to Al Qabas newspaper.
He also helped create the Kuwait Fund for Economic Development and other financial institutions in the country.