Dáil Éireann Debate, Thursday - 10 November 2016
41. Deputy Gino Kenny asked the Minister for Finance his views on the closure by a bank (details supplied) of the accounts of the Ireland Palestine Support Campaign, IPSC, and in particular the potential risk claimed by the bank despite the ISPC's exemplary banking record; and if he will make a statement on the matter. [31556/16]
Amharc ar fhreagraAs the Deputy may be aware, in my role as Minister for Finance I have no direct function in the relationship between banks and their customers. Decisions taken by Bank of Ireland in this regard, and the manner in which it conducts its day-to-day operations, are a matter for the board and management of the bank. Notwithstanding the fact that the State is a minority shareholder in Bank of Ireland, I 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 Bank of Ireland. This Framework was published on 30 March 2012 and can be found on the Department's website at:
http://finance.gov.ie/sites/default/files/Bank-of-Ireland1_0.pdf.
Accordingly, it is not appropriate for me to intervene in any way in this matter.
In correspondence I have seen from the IPSC, I note that the organisation was preparing a complaint to the Financial Services Ombudsman. This is the appropriate action for the IPSC to take to ensure it has been treated fairly in this case.
