FOI request (FOIR-450144619)

Investment in Qatar National Bank

Requested Wed 07 September 2022
Responded  Thu 22 September 2022

I am seeking any information on local authority funds that have been stored with Qatar National Bank in the past 5 years, either as part of Treasury management operations, or for any other reason. Please provide the following:

A breakdown of local authority funds that have been stored with Qatar National Bank (QNB) since 1 January 2017.

The quantum of the funds invested with QNB and the interest rate earned.

The latest list of approved countries for local authority funds to be invested in.

Response

No funds have been stored or invested with Qatar National Bank (QNB) since 1 January 2017.

We do not have a list of approved countries, the only classification is that the bank is A rated and follows recommended lending period.

The countries were a personal choice of the councillors/Finance Director.