Oireachtas Joint and Select Committees
Thursday, 21 September 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Sector in Ireland: Bank of Ireland
9:30 am
Paul Murphy (Dublin South West, Solidarity) | Oireachtas source
We will move to an unrelated issue, namely, the bank account of the Ireland Palestine Solidarity Campaign, which has been discussed previously at the committee. I understand representatives of the campaign had a meeting with the bank last February following correspondence with the committee. After all of that, including correspondence with various Deputies, we are still none the wiser as to the justification for the bank's decision to shut down the bank accounts of a campaigning organisation which raises funds in Ireland and spends the bulk of them spends. We heard only some vague references to regulations and risk appetite. Given that the account in question is a deposit account, there is no risk involved from Bank of Ireland's point of view. Will the witnesses explain the position or shed more light on this case? it looks like a worrying case of political censorship and interference by a bank in the affairs of a legitimate group that is involved in campaigning activities, perhaps under pressure from other quarters.
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