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Bank Of Credit And Commerce International

Volume 195: debated on Thursday 25 July 1991

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To ask the Secretary of State for Trade and Industry what information led to the action of his Department in November 1990 in writing to non-departmental organisations funded by grants to ask them to supply as a matter of urgency details of all their banking arrangements, including any use of the overnight money market or any similar facility; how many such organisations were found to have deposits with the Bank of Credit and Commerce International; and whether those with such deposits were contacted about them by his Department.

My Department wrote as part of an annual review of banking arragements required by the Treasury. The exercise extends to the non-departmental bodies for which my Department is responsible. Replies received have not shown any dealings with the Bank of Credit and Commerce International.