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Banks: Iran

Volume 486: debated on Tuesday 13 January 2009

To ask the Chancellor of the Exchequer what reports he has received on the determination by the US Administration on 17 December 2008 that Assa Corporation is created and controlled by Bank Melli; and whether he has made representations to the relevant Channel Islands authorities on the operations in Jersey of Assa Company Ltd and its subsidiaries. (246397)

HM Government are currently liaising with the US Administration on their determination that Assa Corporation is created and controlled by Bank Melli and with the relevant Jersey authorities on this issue.

The Jersey Financial Services Commission is coordinating the Jersey investigation and focusing on the part played by any Jersey Company which may have conducted business with Assa Corporation, Assa Company Ltd or Bank Melli.