Coll 28/114 ‘Persia. Financial affairs:- financial relations with H.M.G. and U.S. Govt.’ [‎5v] (10/470)

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(d) Ihe Imperial Persian Government shall ensure that the said banking
correspondents are instructed to certify to the Bank of England, on
demand, the actual cash balances standing to the credit respectively
of the National Bank of Iran and of the Imperial Bank of Iran as
at the close of business on the relevant conversion date.
(e) E^pon receipt by His Majesty’s Legation of the certificates mentioned
paragraphs (a) and (b) above, the Government of the United KingdoniP(|
will intorm the Imperial Persian Government of the amount of gold
that is consequently to be made available to the Imperial Persian
Government, of the centre at which the Government of the United
Kingdom (in accordance with the option available to them under
article XI of the Financial Agreement) are prepared to deliver the
said gold, and of the price thereof. The Government of the United
Kingdom will further instruct the Bank of England to provide the
stated amount of gold upon receipt of the necessary funds from the
National Bank of Iran.
if) lor this purpose, the expression “ sterling balances standing to the
credit of the Imperial Persian Government ” shall have the meaning
assigned to it in article I (3) of the Financial Agreement of the
26th May, 1942, as extended to other currencies of the sterling area
by the exchange of letters of the same date annexed to the agreement.
Balances of sterling area currencies shall be converted into sterling
at the London bankers’ buying rates ruling for the currency concerned
on the relevant conversion date.
(#) The expression “ conversion date ” means—
{a) the 31st December, 1942;
(b) The last day of each calendar quarter thereafter; and
(c) The date of the termination of the Financial Agreement in
accordance with article XV thereof.
2. I shall be glad if your Excellency will be so good as to confirm that the
procedure proposed above is acceptable to the Imperial Persian Government.
I avail, &c,
R. W. BULLARD.
Enclosure 2.
(Translation.)
Note from Persian Minister for Foreign Affairs to Sir R. Bullard.
3rd Shahrirar, 1322.
Your Excellency, (26^ August, 1943.)
IN order to give effect to article X of the Financial Agreement between the
Government of the United Kingdom of Great Britain and Northern Ireland,
dated the 5th Khordad, 1321 (26th May, 1942) (as subsequently amended by the
Supplementary Agreement, dated the 5th Bahman, 1321 (25th January, 1943)), I
have the honour to inform your Excellency that the Imperial Government agrees
that the following procedure should be adopted for the ascertainment of the
amount of the balances in sterling and sterling area currencies standing to the
credit of the Imperial Government:—
(a) As soon as may be after each of the conversion dates, the Imperial
Ministry of Finance shall certify to His Majesty’s Legation in Tehran
the actual cash balances in sterling and sterling area currencies
standing to the credit of the Imperial Persian Government according
to the official accounts of the various Government departments
concerned as at the close of business on the relevant conversion date.
(b) The Imperial Ministry of Finance shall furnish to His Majesty’s
Legation supporting certificates from the National Bank of Iran
and from the Imperial Bank of Iran, confirming that the sums certified
in paragraph {a) above actually stood to the credit of the Imperial
Persian Government as at the close of business on the relevant date.
{c) The Imperial Persian Government shall ensure that the National Bank
of Iran and the Imperial Bank of Iran shall respectively communicate
to His Majesty’s Legation (for transmission to the Bank of England)
the names of the banking correspondents in the United Kingdom and
the rest of the sterling area with whom the said balances are kept.