'File 0602 Imperial Bank of Iran - Banking Agreement & Bank Reports, Vol. 1' [‎35r] (69/124)

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Britieti Agency An office of the East India Company and, later, of the British Raj, headed by an agent. , ^harjah.
Dated 7th beptember 1946#
To
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. ,
Bahrain.
kemeiandum .
Reference your printed letter Ro.c/&93 dated 12th
August 1946 which 1 received on the 17th of August.
2. The Political Officer, Trucial Coast A name used by Britain from the nineteenth century to 1971 to refer to the present-day United Arab Emirates. *s letter was
delivered to the Shaikh of uubai on the 18th August. Although
a couple of weeks have passed since he received the letter, he
sent no reply and 1 reminded him twice verbally, he stated
that before sending a reply he wish®! t© discuss the matter with
Mr. Keast. i informed Mr. iLeast accordingly anc he expressed his
readiness to go and see the shaikh and asked me to go along with
him. *e visited the shaikh on the 3rd September ana the
question of the proposed leasing of a land for the Imperial
*>ank of Iran at Dubai was discussed. The Shaikh said he would
not consider selling the land ana adhered to the previous
proposals which he had made to Mr. Keast quoting as a precedent
the agreement which he had made with Anglo-Iranian Oil company
concerning the lease of a plot of land at fls.200/- per nionth and
for a lesser period, i.e., 10 years. It was pointed out to
the shaikh that his present terms are exhorbitant, that a bank
is in no way comparable with an Oil company, ana that by the
existence of a bank in uub&i both he and his subjects would
benefit considerably. The Shaikh said he will think over the
matter and let us know his decision next day.
3. On the 4th September shaikh Rashid bin Sa*id came to
the Agency An office of the East India Company and, later, of the British Raj, headed by an agent. where Mr. Keast awaited him. .shaikh Rashid said he
wanted &• know what terms the Manager was prepared to accept.
Mr. Keast stated that if the Sia ikh was not agreeable at all
to let the land free of rent, he considered a rent of ris.100/-
per month quite reasonable compared with the rent of similar
plots of land leased to local people, shaikh Rashid said he
will consult his fether&nd let us have his final reply next day.
On the 5th September both he ana Mr. Ktast came to the Agency An office of the East India Company and, later, of the British Raj, headed by an agent. to
discuss the matter furti er. ohaikh Rashid produced the
agreement which his father haa concluded with the Anglo-Iranian
Oil company and stated that everything depended on our senae of
justice and fair decision. Mr. Keast adhered to Rs.100/- rent
per month and agreed at the request of bhaikh Rashid to reduce
the period to 20 years to confirm with the period of the banking
agreement but stipulated that the final agreement was subject
to the approval of his uondon office to whom he was going to
refer the matter. This was agreed to and a reply to Folitical
Officer, Trucial coast A name used by Britain from the nineteenth century to 1971 to refer to the present-day United Arab Emirates. *s letter in this sense was prepared by the
Shaikh and handed over to me and is enclosed herewith.
H
S *£>
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. Agent, bh&rjah.
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