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Coll 30/224 'Currency Arrangements in the Arab Sheikhdoms of the Persian Gulf.' [‎198v] (411/620)

The record is made up of 1 file, in 2 parts (302 folios). It was created in 4 Mar 1947-29 Sep 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. .

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’’Traders ” 3C(1A)
n 3F 2(b)
Reg.3C(l)
»» /1 a
Accounts”.
( T i) The settling of property or an interest therein on non- :?eg.3BA
residents other than by Willo
(vii) Agreements to clo in the future what is now contrary to Ae 3 .9B
the Defence (Finance) Regulations.
4 RESTRICTIONS ON THP WITHDRAWAL 3Y NON-RESIDENTS Qi ^ a-1. ^ .-vL
^ ASSETS IN UNITED KINGDOM "
In order nainly to prevent withdrawal by non-residents
of pre-war capital invested in the United liingdoni) the following
measures have been introduced
(i) The sale or transfer in the United Kingdom of securities Reg e 3A(l)
ty non-residents is prohibited except with permission.^
Permission to sell would not normally be given except for
the purpose of reinvestment in certain British G-overnment
securities or in other sterling securities which are not
redeemable at a date earlier than the maturity date of
the securities sold or ten years from the date of
purchase, whichever is earlier. ’’Switching” into very
short-dated securities is not allowed because this would
provide an easy means of circumventing the restrictions
on capital payments since no restrictions are imposed
upon the transfer outside the sterling area of the
redemption proceeds of sterling securities.
Most sterling area countries impose restrictions on the
sale of securities in their territory by non-residents
similar to those in force in the United Kingdom.
(ii) As it was considered impracticable to restrict sales in
the United Kingdom by non-residents of other assets than
securities, the proceeds of sale of certain of these
assets are blocked.
Under th. Defence (Finance) Regulations the Treasury (or
the Bank of England on its behalf) are sivan the
Rag.10(2)
" 32
account in the United Kingdom.

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Content

The file concerns currency issues affecting the Arab states of the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. , following the transfer of administrative responsibility from the Government of India to the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. 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. in 1947. Under the new arrangements, responsibility for exchange control was vested in 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. .

The papers include: memoranda by 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. officials on the desirability of the continued use of the Indian rupee in the region (folio 297); the issue of which Gulf states were included in the Sterling Area; exchange control; policy on imports to the region; trade; the currency of Muscat and Oman, including the use there of Maria Theresa dollars; Kuwait as 'the centre of the whole Middle East for smuggling and illicit transactions in foreign currencies' (folio 120); and traffic in gold through Kuwait.

In addition to 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. (later Commonwealth Relations Office) correspondence and memoranda, the papers include correspondence from 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. , the Bank of England, and HM Treasury.

The file includes a divider, which gives a list of correspondence references contained in the file by year. This is placed at the back of the correspondence.

Extent and format
1 file, in 2 parts (302 folios)
Arrangement

The papers are arranged in approximate chronological order from the rear to the front of the file.

Physical characteristics

Foliation: this file consists of two physical volumes. The foliation sequence (used for referencing) commences at the first folio of volume one (ff 1-153) and terminates at the last folio of volume two (ff 154-302); 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; these numbers are printed, and are not circled. The foliation sequence does not include the front and back covers of the volumes.

Written in
English in Latin script
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Coll 30/224 'Currency Arrangements in the Arab Sheikhdoms of the Persian Gulf.' [‎198v] (411/620), British Library: India Office Records and Private Papers, IOR/L/PS/12/3968A, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100081513440.0x00000c> [accessed 1 May 2024]

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