Dáil Éireann Debate, Tuesday - 11 October 2016
284. Deputy Seán Crowe asked the Minister for Foreign Affairs and Trade if his attention has been drawn to the fact that a bank recently closed the account of the Ireland Palestine Solidarity Campaign, IPSC, and that the official reason stated was that the IPSC is associated with a high risk country; his views on whether this is insulting to the Palestinian people; and if he will make a statement on the matter. [29361/16]
View answer295. Deputy Thomas P. Broughan asked the Minister for Foreign Affairs and Trade if he will report on the recent closure of bank accounts of an organisation by a bank (details supplied); the interventions he is taking with regard to this closure; the supports he is offering to the organisation; and if he will make a statement on the matter. [29757/16]
View answerI propose to take Questions Nos. 284 and 295 together.
The regulation of the banking industry is a matter for the Minister for Finance, and the assessment of risk is a commercial decision for the banks themselves. I have no role in this area, and I am not aware of the basis for the risk assessment reportedly made by the bank in this case.
Many places around the world might be assessed as presenting a risk of one degree or other at various times. This is to be expected, and has nothing to do with insulting the people living there.
I would be disappointed if a civil society organisation in this country engaging in lawful activities was unable to function because of such difficulties, regardless of whether I agree or not with the views they might espouse. The operation of a healthy civil society is an essential element of a democracy. But I cannot require a given bank to offer services to a customer if it does not wish to.
In the present case, I understand from reports that the organisation in question has been able to open accounts with another bank.
