What was the name of the 1982 stock exchange collapse in Kuwait?

The 1982 stock exchange collapse in Kuwait was called the Souk Al-Manakh crash.

Souk Al-Manakh was an unofficial market in Kuwait that traded shares outside the country’s regulated exchange. Speculation became extreme, and traders used post-dated checks to finance transactions. Those checks created enormous apparent wealth and allowed obligations to grow far beyond the participants’ immediately available cash.

When confidence broke, the payment system could not absorb the debts. The crash produced a vast settlement crisis and caused severe losses for investors, banks, and the Kuwaiti government. Authorities later created a formal system to address the outstanding obligations, while the episode became a classic example of leverage and weak regulation magnifying a market bubble. Souk Al-Manakh is sometimes described simply as a Kuwaiti stock-market crash, but the name specifically refers to the unofficial trading venue at the center of the crisis.