Investments in Qatar National Bank

The request was successful.

Dear North Lanarkshire 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

Angelene Kirkpatrick, North Lanarkshire Council

Dear Sir/madam

I acknowledge receipt of your request which is receiving attention.

I shall contact you again when I am in a position to respond more fully to your request.

Yours sincerely

Angelene Kirkpatrick
For Freedom of Information Co-ordinator
North Lanarkshire Council
Civic Centre
Windmillhill Street
Motherwell
ML1 1AB

Working from home
Please contact via email

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Jacqueline Keachie, North Lanarkshire Council

Dear Mr. Davies

Request for Information

 

I refer again to your e-mail dated 7 September 2022 seeking information in
relation to funds stored with Qatar National Bank.

 

Having investigated, my response to your three questions is as follows:-

 

Question 1

 

No funds have been stored with Qatar National Bank since 1 January 2017.

 

Question 2

 

N/A.

 

Question 3

 

The United Kingdom is the only country approved for investing funds.

 

I can advise that North Lanarkshire Council, having regard to the
provisions of Section 21 of the Freedom of Information (Scotland) Act
2002, has established a procedure whereby any person who has requested
information and is in any way dissatisfied with the decision on that
request, can within forty working days require a review of that decision
by writing to the Head of Legal and Democratic Solutions, Civic Centre,
Windmillhill Street, Motherwell ML1 1AB.  Accordingly, if you are
dissatisfied with this decision and seek such review please write to the
Head of Legal and Democratic Solutions.

 

I would advise, also, that in terms of Section 47 of the Act a person who
is dissatisfied with a notice given by the local authority under Section
21 of the Act - ie. a notice following a review of a decision by a local
authority, or by the failure of a local authority to give such a notice -
may make application to the Scottish Information Commissioner for a
decision as to whether, in any respect specified in that application, the
request for information to which the requirement relates has been dealt
with in accordance with the Act.  Such an application must be made within
six months of the review decision and be in writing or in another form
which, by reason of it having some permanency is capable of being used for
subsequent reference. The application must state the name of the
applicant, and provide an address for correspondence. The application must
also specify the request for information to which the requirement for
review relates, the matter which gave rise to the applicant’s
dissatisfaction with the original decision of the local authority and the
matter which gives rise to the applicant’s dissatisfaction with the
decision on review by the local authority or the failure of the local
authority to issue such a decision.  The Scottish Information Commissioner
can be contacted as follows:-

 

Scottish Information Commissioner

Kinburn Castle

Doubledykes Road

St. Andrews

KY16  9DS

email: [1][email address]

 

Appeals to the Scottish Information Commissioner can also be made online
via the following link: -

 

[2]www.itspublicknowledge.info/Appeal

 

I hope this information is sufficient for your purpose.  If, however, you
require further information ‚Äď or I can assist in any other way ‚Äď please
let me know.

 

Yours sincerely

 

 

Jacqueline Keachie

For Freedom of Information Co-ordinator

North Lanarkshire Council

Contact by email

 

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