Oireachtas Joint and Select Committees

Thursday, 14 December 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Paradise Papers (Resumed): Allied Irish Banks

9:30 am

Mr. Bernard Byrne:

It was considered a banking centre utilised by a mobile workforce. People who travelled and operated in different jurisdictions used it as a location. I will return to the piece which I know the Deputy will not like, namely, that is what existed at that point in time. That is the rationale that exists in terms of documentation that exists around why it was established. I was not there. It is not part of where the business is, as I see it, going forward. I am not sure of the benefit. I have a different view in that regard but I do not have access to a pile of data about what happened in 1977.

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