Investments in Qatar National Bank
Dear Trafford Metropolitan 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
Thank you for contacting Trafford Information Governance Team, please
treat this automatic email reply as confirmation that we have received
your enquiry and will respond to you accordingly.
If you have access to the Internet you may wish to see if your enquiry can
be dealt with online at [1]www.trafford.gov.uk. The council's website
enables many forms to be completed and payments to be made online, as well
as providing comprehensive information.
Kind regards
Information Governance Team
Trafford Council
References
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1. http://www.trafford.gov.uk/
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Your enquiry has been given the reference number 12211. Please quote this in all future correspondence with regard to this enquiry.
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If you are requesting information under the Freedom of Information Act or Environmental Information Regulations, there is a 20 working day statutory timescale within which to provide the information requested, subject to any exemptions which may apply. The 20 working day timescale will start on the first working day following receipt of your email.
If you have access to the Internet you may wish to see if your enquiry can be dealt with online at www.trafford.gov.uk. The council's website enables many forms to be completed and payments to be made online, as well as providing comprehensive information.
Thank you
Trafford Council
Dear Mr Davies,
Thank you for your email of the 7^th September 2022, where you requested
information about Investments in Qatar National Bank.
The information you requested is enclosed.
Request
A breakdown of local authority funds that have been stored with Qatar
National Bank (QNB) since 1 January 2017.
Please See below
The quantum of the funds invested with QNB and the interest rate earned.
Interest
Amount rate Term Start Term End Interest Earned
2,000,000.00 0.78 14.07.2016 13.07.2017 15,557.26
2,000,000.00 0.81 29.07.2016 28.07.2017 16,155.62
2,000,000.00 0.78 01.08.2016 31.07.2017 15,557.26
2,000,000.00 0.77 03.08.2016 02.08.2017 15,357.81
2,000,000.00 0.69 22.08.2016 21.08.2017 13,762.19
10,000,000.00 76,390.14
The latest list of approved countries for local authority funds to be
invested in.
The countries on our approved lending list are:
Australia
Canada
Denmark
Norway
Singapore
Sweden
Switzerland
United Arab Emirates
United Kingdom
United States.
If you are dissatisfied with the handling of your request, you have the
right to ask for an internal review. Internal review requests should be
submitted within two months of the date of receipt of the response to your
original letter and should be addressed to: Information Governance
Manager, Trafford Council, Town Hall, Talbot Road Stretford M32 0TH or via
email to [1][Trafford Council request email]
Please remember to quote the reference number above in any future
communications.
If you are not content with the outcome of the internal review, you have
the right to apply directly to the Information Commissioner for a
decision. The Information Commissioner can be contacted at: Information
Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9
5AF
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Yours sincerely,
Information Governance
Legal Services | Trafford Council | Trafford Town Hall | Talbot Road |
Stretford | M32 0TH
Email: [4][email address]
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