Investments with Qatar National Bank
Dear Ards and North Down Borough Council,
I am seeking any information on local authority funds that have been stored with Qatar National Bank in the past 5 years, either as part of Treasury management operations, or for any other reason. Please provide the following:-
A breakdown of local authority funds that have been stored with Qatar National Bank (QNB) since 1 January 2017.
The quantum of the funds invested with QNB and the interest rate earned.
The latest list of approved countries for local authority funds to be invested in.
Please note that I have also made a request to some local authorities regarding money invested by council pension funds.
This is a separate request about a different type of investment, not a duplicated request.
I look forward to a response within the statutory time period.
Yours faithfully,
Rob Davies
Dear Mr Davies,
Thank you for your email of 7 September 2022 to Ards and North Down Borough Council.
We confirm your request regarding Qatar National Bank will be processed as a request under the Freedom of Information Act 2000. You will receive the information you have requested within 20 working days of the date of receipt of your request by the Council unless the Council does not hold the information or there is a reason to withhold all or part of the information requested. The Council will write to you in any event.
For further information in relation to the Freedom of Information Act we would refer you to the Information Commissioner's Office website, www.ico.org.uk
If you wish to discuss the above, please do not hesitate to contact us.
Regards,
FOI Team
Ards and North Down Borough Council
Town Hall
The Castle
Bangor
BT20 4BT
Tel: 0300 013 3333
Dear Mr Davies,
We refer to the above matter and we write further to our acknowledgement email of 7th September.
Your request has been processed by Ards and North Down Borough Council in accordance with the Freedom of Information Act 2000 and please see the Council’s response below.
I am seeking any information on local authority funds that have been stored with Qatar National Bank in the past 5 years, either as part of Treasury management operations, or for any other reason. Please provide the following:-
A breakdown of local authority funds that have been stored with Qatar National Bank (QNB) since 1 January 2017 - NIL
The quantum of the funds invested with QNB and the interest rate earned - NIL
The latest list of approved countries for local authority funds to be invested in -ANDBC INVESTS IN UK ONLY
Should you require clarification on any part of this response, please do not hesitate to contact us.
We trust this is of assistance. However, should you be unhappy with the response you may request an Internal Review by contacting [Ards and North Down Borough Council request email]. Please note that requests for Internal Reviews must be submitted within two months from the date of this response. Further information on the Internal Review process is available on the Council’s website. In the event you are unhappy with the outcome of any Internal Review conducted by Council you may apply to the Information Commissioner's Office (ICO) for a review of our response. Please note that the ICO generally expects Internal Reviews to be completed prior to reviewing the decisions of public bodies.
Regards,
FOI Team
Ards and North Down Borough Council
Town Hall
The Castle
Bangor
BT20 4BT
Tel: 0300 013 3333
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