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'File 0602 Imperial Bank of Iran - Banking Agreement & Bank Reports, Vol. 1' [‎55r] (109/124)

The record is made up of 1 file (62 folios). It was created in 27 Dec 1945-29 Jan 1950. It was written in English and Arabic. 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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THE IMPEL IAI BABE OP HIATT
- 2 -
2 .
J.49
Tli&rG liiis bson some increase in our "business wit;fc .^us"trailan- iims
who now provide nearly all ©f Dubai*s imports of Timned Fruit, Preserveb
and Vermicelli.
Our sales of Iraq. Dinars virtually ceased durijig August when the
Food Companies received instructions to pay for a 11 subsequent- shipments
of wheat in Bahrain.
Our purchases and sales on other Gulf towns have shewn a sharp rise
as the merchants have now realised that to pass tneir local business
through a Bank is both more expedient and safe tnsn sending a neck
passenger off with a bedroll full of currency notes.
We believe that this menjas of transferring funds has now virtually
c e a s« d •
With regard to our Foreign business we have been called uponto transfe:
dollars to the u nited States in payment of imports from there.
These dollars wore provided by the customers tnom#selves, uno. v/e have
not been called upon to provide Government Dollars.
Small amounts of currency have been sold for Swedish, Forwegian and
Dutch accounts for Matches, Fish hooks and Condensed Milk, respectively.
Generally trade with the Vifest has gsatly improved during the year
whereas, due to increased prices, thst with India has fallen c-ff«
Call on our other facilities, such as Travellers 1 Cheques, travellers*
Letters of Credit, S* fe deposits, ttc., has not improved.

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Content

The file contains correspondence relating to the activities of the Imperial Bank of Iran in Dubai. The principal correspondents are: the British Agency An office of the East India Company and, later, of the British Raj, headed by an agent. at Sharjah; the Political Agency An office of the East India Company and, later, of the British Raj, headed by an agent. at Bahrain; 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 historical term used to describe the body of water between the Arabian Peninsula and Iran. at Bushire (later, Bahrain); and representatives of the Imperial Bank of Iran in both Tehran and Dubai.

The papers cover the following matters:

  • the negotiations and final agreement for the opening of a bank branch in Dubai;
  • the lease of land for the new bank building;
  • the change of name to the British Bank of Iran and the Middle East in August 1949.

The file also contains brief reports on the bank's activities for the years 1948 and 1949, written by the manager, M P Stott.

Folios 6-10 are a copy of the agreement between the bank and the ruler of Kuwait, upon which the Dubai agreement was based. Folios 14-25 are the final Dubai agreement, in triplicate.

Extent and format
1 file (62 folios)
Arrangement

The file is arranged chronologically.

Physical characteristics

Foliation: the main foliation sequence commences at the front cover with 1 and terminates at the back cover with 62; 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.

Written in
English and Arabic in Latin and Arabic script
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'File 0602 Imperial Bank of Iran - Banking Agreement & Bank Reports, Vol. 1' [‎55r] (109/124), British Library: India Office Records and Private Papers, IOR/R/15/4/8, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100026502099.0x00006e> [accessed 29 March 2024]

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