Investments in Qatar National Bank
Dear Blackburn with Darwen Borough Council,
I'm writing to request information to which I believe I am entitled and which you may hold.
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 Rob,
Thank you for your request for information regarding ‘Qatar National Bank’ (reference number 08878). Your request was received on the 07/09/22 and I am dealing with it under the terms of the Freedom of Information Act 2000 and/or Environmental Information Regulations 2004.
In some circumstances a fee may be payable and if that is the case, I will let you know. A fees notice will be issued to you, and you will be required to pay before we will proceed to deal with your request.
If you have any queries about this request, please contact Information Governance on 01254 585852. Alternatively, our email address is [Blackburn with Darwen Borough Council request email]
Please remember to quote the reference number above in any future communications.
Kind Regards,
Heather Wolstenholme
Information Governance Officer
Email: [email address]
01254 585651
Dear Rob
Thank you for your request for information regarding ‘Qatar National Bank’ (reference number 08878); Please see our response attached/below. If you have any queries regarding your request for information then please don’t hesitate to contact us.
Blackburn with Darwen Borough Council have not had any investments with Qatar National Bank.
Our strategy allows the Council to make investments in foreign countries with a sovereign rating of AA+ or greater, but it is then looked at on an institution by institution basis, on advice from our Treasury Management advisors. In practice, the Council has not made any investments (other than of those in Money Market Funds) outside of the UK over the last 5 years.
If you are unhappy with the service you have received in relation to your request for information and wish to make a complaint or request a review of our decision, you should write to: Information Governance Manager, Information Governance, Blackburn with Darwen Borough Council, 3rd Floor, Old Town Hall, Blackburn, Lancashire, BB1 7DY or email [Blackburn with Darwen Borough Council request email]
If you are not content with the outcome of your complaint, you may apply directly to the Information Commissioner for a decision. Generally, the ICO cannot make a decision unless you have exhausted the complaints procedure provided by the Council. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF.
Please find attached our 'have your say' feedback policy.
Kind Regards,
Fatima Makken
Information Governance Officer
Email: [email address]
01254 222527
We work to defend the right to FOI for everyone
Help us protect your right to hold public authorities to account. Donate and support our work.
Donate Now