§ Mr. MaddenTo ask the Chancellor of the Exchequer what guidance has been issued to the clearing banks by the Bank of England concerning personal and business bank accounts held by Iraqi nationals resident in the United Kingdom; and if he will make a statement.
§ Mr. NelsonThe Bank of England issued a notice on 7 August 1990, and supplements on 25 August, 3 September and 13 September 1990, which detailed the administrative arrangements for blocking personal and business accounts held in the United Kingdom by Iraqi nationals. Further guidance is given to individual banks on application to the sanctions emergency unit at the Bank of England.
Copies of the Bank notice and the three supplements are being placed in the Library.