James Browne (Wexford, Fianna Fail)
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61. To ask the Minister for Finance if the difficulties ambassadors are facing in opening bank accounts with banks here will be addressed; and if he will make a statement on the matter. [24004/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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The provision of banking services to customers is an independent commercial decision made by banks. The decision on whether to provide banking services to customers by a bank is dependent on a variety of factors, including their own risk appetite and regulatory requirements. In addition, it is important to note that banks are designated persons under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, and consequently have Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) obligations to meet under that legislation. A strict compliance with international sanctions is essential in this regard.

In meeting their obligations, banks are required to adopt a risk based approach as to how they conduct their business and who they conduct it with.  The Central Bank of Ireland, as an independent financial regulator, has no role in the making of commercial decisions by regulated entities and it would be inappropriate for it to interfere or attempt to influence such decisions.

While any difficulty experienced by an Ambassador or others is regrettable, as outlined above, it is not within my power or remit to intervene on a bank’s risk based approach to business relationships.