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'FILE NO: 14/14 name; BANK FOR MUSCAT (IMPERIAL BANK OF IRAN & THE PERSIAN GULF)' [8r] (15/434)
The record is made up of 1 file (215 folios). It was created in 15 Jun 1945-1 Nov 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. .
Transcription
This transcription is created automatically. It may contain errors.
y
in paras 3 and 4 of the telegram from Galloway Bushire.
Reference is made in para 4 to the bank being incorporated
with Iraqi capital and direction* This seems to be only
partially correct as although we have nc information as to
the relative distribution of its share capital between Indian
and non-resident share-holders, a majority of its Board of
Directors will be Indians and it is presumed a substantial
proportion (f its share capital will be held by Indians*
As the considerations referred to in Galloway's telegram
are of a political character, we do not consider ourselves
competent to tender advice with regard thereto except in so
far as they concern the methods of financing the trade of )
India with these countries* TV is^trade is at present financed
largely by primitive methods* e.g* by remittances of cash
in the form of notes and coin, or the drawing ofdrafts and
hundies by private merchants and firms, as bankingfacilities
on modern lines are lacking in these areas* In so far as
the institution proposed tobe set up will aim at supplying
thi^ need and thereby contribute to the development of the
trade of India withthese countries, there could be no objection,
on financial and economic grounds to its establishment*
Copy of D.O No* iiCD/703/BS. C 94-45 dated 15th ne 1945
from Reserve Bank of India, Agricultural Credit Dept* Bombay
to K.A. Master Esq*,Deputy Examiner of Ca ital Issues, Governmon
of India, Finance Dept*
Capital Issues*
Reference your D.O* letter Nc* R/56-EC1/45/2044 dated the
24th March ^S.
Our opinion on the application of the India and Persian
Gulf Bank Ltd. (proposed) is as below* The enclosures to
your letter ^re returned herewith*
THK UnDI.. GULF PivKK UP. BOMBAX .
1. Proposed J
About this item
- Content
The file comprises telegrams, despatches, correspondence, memoranda, and notes, concerning the establishment of banks in the Gulf including Dubai, Kuwait, and Muscat.
Issues discussed in the correspondence include:
- Concerns relating to the establishment of the 'India and Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. Bank Limited' with a view to undertaking banking services in Muscat and Dubai
- Approval of the application by the Imperial Bank of Iran to open branches in Muscat and Dubai
- Banking Agreement between Sultan and Imperial Bank of Iran, 10 July 1948.
Included in the file is a copy of the 'Banking agreement between the Shaikh of Dubai and the Imperial Bank of Iran dated 5th January 1956'
The file features the following principal correspondents: 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. (William Rupert Hay); 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. , Muscat (Ralph Ingham Hallows); the Secretary to the Government of India, External Affairs Department; the Sultan of Muscat and Oman [Sa‘īd bin Taymūr]; the Imperial Bank of Iran; and the Eastern Bank Limited.
- Extent and format
- 1 file (215 folios)
- Arrangement
The papers are arranged in approximate chronological order from the front to the rear of 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 217; 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 1-217; these numbers are also written in pencil, but are not circled. A previous foliation sequence, which is also circled, has been superseded and therefore crossed out.
- Written in
- English in Latin script View the complete information for this record
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'FILE NO: 14/14 name; BANK FOR MUSCAT (IMPERIAL BANK OF IRAN & THE PERSIAN GULF)' [8r] (15/434), British Library: India Office Records and Private Papers, IOR/R/15/6/444, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100066431637.0x000010> [accessed 25 April 2024]
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Copyright: How to use this content
- Reference
- IOR/R/15/6/444
- Title
- 'FILE NO: 14/14 name; BANK FOR MUSCAT (IMPERIAL BANK OF IRAN & THE PERSIAN GULF)'
- Pages
- 7r:10v, 163r:164v, 200r:200v
- Author
- Reserve Bank of India
- Usage terms
- The copyright status is unknown. Please contact copyright@bl.uk with any information you have regarding this item.