helf feeling that it
السلمي مان
however love the
the
Jinl
condooma Committee may be, the banks anilted a besumably expecially
Icable to descoteo
4
constituted outside the Colony and carrying on business
therein, are required to comply with the provisions
I cannot of Part 11 of the principal Ordinance. As such,
Much the same problem exists in Palestine,
Where small Savings Banks with insufficient paid up
capital and too small a proportion of liquid assets
elevant
are also a danger to the general course of trade and industry. The papers are still required for action
in the Department, but a copy of the most important
documents which are of general, as distinct from local,
interest are enclosed in 53671/35, and I attach also
the draft Banking Ordinance enclosed in the Palestine
Gazette No.570 of the 6th of February, 1936.
It will be seen that the present Ordinance
follows the suggestions contained in those papers in
many respects. It is, however, considerably more
detailed in its provisions than the Palestine draft
Ordinance.
The Palestine Committee of Enquiry submitted
proposals that:-
1) that the High Commissioner should be given
powers to determine the extent and liquidity of assets
to be maintained by local banks and also to fix the
maximum rate of interest served by banks to depositors.
Both Sir Percy Ezechiel and the Treasury in their
comments on the report disliked these proposals and
considered them impracticable. The Hong Kong
Committee apparently agreed and the present Ordinance
has no such provisions.
2) that a minimum paid up capital should be
prescribed by Ordinance.
The India Office and the Treasury agreed on
the