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'File 9/37 Foreign exchange' [‎5r] (9/252)

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The record is made up of 1 file (125 folios). It was created in 14 May 1947-12 Jul 1948. It was written in English. The original is part of the British Library: India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. Records and Private Papers Documents collected in a private capacity. .

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applications are genuine and are within the quotas allotted,
they should issue Recommendation certificates in duplicate
under their stamp and signature giving descriptions of the
goods, their value and names of ports into which they are to
be imported and the countries of export. Banks are being
authorised by the Reserve Bank of India to open letters of
credit and to make remittances of foreign exchange against
recommendation certificates issued by the political Agents
without the approval of the Government of India. The Poli
tical Agents should take the following facts into considera
tion before recommending applications:
(1) the applicant is a bonafide import dealer of
that place;
(2) the goods to be imported are normally imported
from thaxxKXHXxyxx^xKHHxigKKSKix that particular
country, or are not available elsewhere;
' (3) the goods to be imported are available for export
from the country of consignment;
(4) the amount applied for is reasonable and is
within the quotas assigned to ports within
their jurisdiction;
(5) the goods are ROT for re-export to Saudi Arabia
or Iran. (cf. your telegram No. a/ 732, May 9th
1946, and sub-para (b) of para 1 of Secretary of
State’s telegram No.16002, September 1st, 1946).
4. With effect from the 1st January, 1947, Political
Agents should compile lists of foreign exchange applications
recommended by them in the form of a statement giving the
following particulars:-
1. Date of approval.
2. Name of bank through whom application has been
3. Full name & address of the importer. received.
4. The nature of goods imported.
5. Country of origin of the goods-
6. Country .from where the goods will be consigned.
7. Quantity.
8. Approximate value.
9. Remarks. -
Copies of these statements’ should be forwarded by
Political Agents to the Political Resident A senior ranking political representative (equivalent to a Consul General) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Residency. in the Persian
Gulf, the Government of India and the Reserve Bank of India
every month.
5. The Reserve Bank of India will compare the actual forms
received from the banks reporting remittances of foreign
exchange with the monthly statements received from the various
political Agents. This method will do away with the present
•cumbersome procedure by which political Agents have to re.L.er
all applications to the Government of India, because, quotas
having once been fixed, they can recommend exchange applica
tions immediately. importers will also be able to obtain
their foreign exchange promptly, and it will enable the Govern
ment of India to transfer quotas from one port to another, it
experience shows that original quotas allotted were too large
or too small.
6. A copy of the draft instructions being issued by the
Reserve* Bank of India to banks in Dubai, Bahrain, Kuwait,
Bombay and Karachi is enclosed herewith.
ph© issue.......has been authorised.
Sd./- S.J.L. OLVER India.
Under Secy, to the Govt, of/
- t . . i
X

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Content

The file mainly contains applications submitted for US dollar exchange for importing goods, plus letters of credit granted by the Political Agent A mid-ranking political representative (equivalent to a Consul) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Agency. at Bahrain.

Subjects discussed within the file are an increase in the quota for imports to the ports of Kuwait, Bahrain, Dubai, Muscat and Gwadur, and the purchase of plants for the production of ice in Bahrain.

Correspondents include the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. Residency An office of the East India Company and, later, of the British Raj, established in the provinces and regions considered part of, or under the influence of, British India. at Bahrain, the Eastern Bank Limited, the Imperial Bank of Iran, Petroleum Development Qatar and the Adviser to the Government of Bahrain.

Extent and format
1 file (125 folios)
Arrangement

The papers in the file are arranged chronologically. There are file notes at the end, on folios 111-125. The notes are arranged chronologically and refer to documents within the file.

Physical characteristics

Foliation: the main foliation sequence (used for referencing) commences at the front cover with 1, and terminates at the inside back cover with 137; these numbers are written in pencil, are circled, and are located in the top right corner of the recto The front of a sheet of paper or leaf, often abbreviated to 'r'. side of each folio. An additional foliation sequence is present in parallel between ff 1-136; these numbers are also written in pencil, but are not circled, and are located in the same position as the main sequence.

Written in
English in Latin script
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'File 9/37 Foreign exchange' [‎5r] (9/252), British Library: India Office Records and Private Papers, IOR/R/15/2/381, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100025657220.0x00000a> [accessed 28 March 2024]

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