TNAG-2029-FCO40-2891-Hong-Kong-freezing-of-Kuwaiti-and-Iraqi-assets-1990 — Page 186

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FM FCO

TO DESKBY 30120OZ BAGHDAD

TELNO 613

OF 30103OZ AUGUST 90

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HICB 020126

п

138

137010 MDHOAN 5465

YOUR TELNO 1048: BRITISH NATIONALS' BANK ACCOUNTS

1.

I HAVE SPOKEN TO THE BANK OF ENGLAND ABOUT THE POSITION OF BRITISH NATIONALS IN IRAQ UNDER THE FREEZE ON IRAQI AND KUWAITI ASSETS. FOR THE PURPOSES OF THE FREEZE, BRITISH NATIONALS IN IRAQ HAVE THEIR ACCOUNTS TREATED AS IRAQI. THE REASON FOR THIS IS TO TRY TO ENSURE THAT NO MONEY IS EXTORTED FROM BRITISH CITIZENS IN IRAQ BY THE IRAQI AUTHORITIES. IT IS TO PROTECT THEIR MONEY.

2. BANKS THEREFORE NEED TO BE AUTHORISED BY BRITISH NATIONALS IN IRAQ TO MAKE PAYMENTS, EG. STANDING ORDERS, DIRECT DEBITS ETC. IT IS UNCLEAR HOW FAR BANKS ARE INTERPRETING THE GUIDELINES AS STRICTLY AS MR MOON'S. MOST ARE MAKING COMMONSENSE DECISIONS. 3. THE BANK HAS SUGGESTED, IF YOU ARE HAPPY TO DO SO, THAT ANYONE EXPERIENCING DIFFICULTIES WITH THEIR ACCOUNTS SHOULD PASS THEIR DETAILS TO YOU, AND THAT YOU COULD THEN PASS THEM TO US. THE BANK COULD THEN SPEAK TO LOCAL BRANCHES AS APPROPRIATE. 4.

WE WILL UNDERSTAND IF YOU FEEL THIS IS LIKELY TO CAUSE TOO MUCH WORK. THE POINTS TO EMPHASISE ARE THAT (A) THE BANK OF ENGLAND FREEZE ON ACCOUNTS IS DESIGNED TO PROTECT THE MONEY OF BRITISH NATIONALS: (B) MOST BANKS ARE INTERPRETING THE GUIDELINES SENSIBLY: AND (C) THAT ANY INDIVIDUAL DIFFICULTIES CAN BE SOLVED BY FORWARDING DETAILS TO THE BANK OF ENGLAND.

HURD

YYYY

ΜΑΙΝ

IRAQ/KUWAIT

LIMITED

223

ADDITIONAL

43

IRAQ/KUWAIT

(PASSED TO EMERGENCY UNIT)

NNNN

DISTRIBUTION

266

MED

1

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