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File 74/1915 Pt 4 'Mesopotamia: Imperial Ottoman Bank, Baghdad Branch' [‎354r] (421/422)

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The record is made up of 1 item (210 folios). It was created in 25 Mar 1917-3 Feb 1921. 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.

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FRUi: SIR P. cox, BAGDAD, DATED 25TH LAM, received
at. 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. 5 p.m. 26th "arch '17.
IS.
(iw. T.885. Bagdad branch of Ottcraan Bank. Case
clitiers troiii that of Basra branch,
— la. latter cane under our control few days after
outbreak of war before it had opportunity for hostile trade.
Bagdad branch had been doing enemy business up to date of
our arrival and was recognised by Turks as Government bank.
It has no cash at all and assets in Bagdad are
insigftijLcant. Liabilities amount to about £133,000, made
up as follows in round figures.
(1) to British and allied creditors £44,500;
(£) to Ottoman Bank £6,500; (3) to inhabitants of Bagdad
£57,700; (4) to monies collected on account of London and
Paris branches £2^,300.
host of above have been, received by bank in Ottoman
paper money of which market value is only one-fifth of face
value (one group undecipherable) if head office of bank were
required or allowed to liquidate these liabilities in cash now
it would have’effect of enhancing value of Turkish paper
''Which is presumably not desired. I recommend that Bagdad
branch remain closed until end of the war. Insuructions
requested.
Addressed to Foreign, India, repeated to Secretary
of State and Basra.

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This part contains correspondence and 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. Minute Papers relating to the Imperial Ottoman Bank in Mesopotamia [Iraq], mainly concerning the Baghdad branch.

It includes papers regarding:

  • The decision of the British Government, on the recommendation of local British political authorities, to close the Baghdad branch of the Imperial Ottoman Bank for the duration of the First World War, on the grounds that the Bank was identified with enemy interests, and it continued to do enemy business up to the date of the British occupation of Baghdad, and was recognised by the Turkish authorities as a Government bank.
  • The proposal of the London Agency An office of the British Government and, earlier, of the East India Company. of the Bank to send their representative Mr Critchley to Baghdad to enquire into the interests of the Bank’s shareholders and clients in Mesopotamia, and their later proposal to send Mr H R Saltmarsh and Mr E E Humphries instead of Critchley.
  • The proposal of the Civil Commissioner, Baghdad, that the Baghdad branch of the Bank should be allowed to re-open.
  • Permission being granted to the Imperial Ottoman Bank at Basra to correspond with its Constantinople [Istanbul] Office.
  • The visit of Lord Goschen, a director of the Imperial Ottoman Bank, to Mesopotamia.
  • A query by Drysdale and Company Limited about whether the Imperial Ottoman Bank at Baghdad was ‘a safe and sound’ institution, in response to a customer asking the company to accept payment at the Imperial Ottoman Bank in Baghdadthe proposal that the Baghdad and Mosul branches of Bank should be permitted to settle transactions dating back to the period before the British occupation.

The correspondence largely consists of correspondence between the 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. and the following: the Foreign Office; Sir William Plender, appointed by the Treasury as Supervisor of the Imperial Ottoman Bank’s London Agency An office of the British Government and, earlier, of the East India Company. ; the Imperial Ottoman Bank, London Agency An office of the British Government and, earlier, of the East India Company. ; the Viceroy of India, Foreign Department; and the Civil Commissioner, Baghdad (telegrams addressed from ‘Political, Baghdad’). The file also includes copies of Foreign Office correspondence with the London Agency An office of the British Government and, earlier, of the East India Company. of the Imperial Ottoman Bank, and Sir Reginald Wingate, High Commissioner, Egypt.

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1 item (210 folios)
Written in
English in Latin script
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File 74/1915 Pt 4 'Mesopotamia: Imperial Ottoman Bank, Baghdad Branch' [‎354r] (421/422), British Library: India Office Records and Private Papers, IOR/L/PS/10/531/1, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100048952596.0x000077> [accessed 25 February 2020]

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