Dáil Éireann Debate, Tuesday - 11 October 2016
75. Deputy Seán Crowe asked the Minister for Finance if his attention has been drawn to the fact that a bank (details supplied) recently closed the account of the Irish Palestine solidarity campaign, IPSC; and if he will urgently raise the issue with the bank. [29360/16]
View answerI can confirm for the Deputy that I am aware of matter he has referred to.
Notwithstanding the State's 14% minority shareholding in BOI, it should be noted that I in my role as the Minister for Finance, have no direct function in the relationship between the bank and its customers. Decisions taken by the bank in this regard are matters for the board and management of the institution. The Minister for Finance must ensure that the bank is run on a commercial, cost effective and independent basis to protect the value of the bank as an asset to the State. A Relationship Framework has been specified that defines the nature of the relationship between the Minister for Finance and the bank. This Framework was published on 30 March 2012 and is available at: http://www.finance.gov.ie/sites/default/files/Bank-of-Ireland1.pdf. Accordingly, it is not appropriate for me to intervene in the matter.
I understand that the IPSC intends raising the matter with the Financial Services Ombudsman. This is the appropriate action for the IPSC to take to ensure it has been treated fairly in this case.
