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Friday, August 20, 2010

Barclays Bank - Payrolling the Burmese Junta

Augn San Suu Kyi

So it seems the unethical bank hasn't just been providing financing for Mugabe in Zimbabwe - it has been helping to line the pockets of the people who are keeping freedom fighter (and democratically elected president) Aung San Suu Kyi locked up under house arrest.

Now, it has been discovered that Barclays Bank has been providing money to government officials and businesses. In embarrassment and as quietly as possible, it has agreed to pay £190m fines for breaching US sanctions against Burma.

TUC General Secretary Brendan Barber said: 'It's a disgrace that Barclays has been violating US sanctions and doing business in Burma. Foreign financial services are helping Burmese generals to loot the country's natural wealth and to fund a military accused of committing horrendous crimes against humanity.'

General Secretary of the Federation of Trade Unions in Burma (FTUB) Maung Maung said: 'My country is the worst place in the world to be a worker. The regime uses slave labour, rape, and torture to stay in power. Unions are banned and the jails are overflowing with those who have dared to speak out.

'With sham elections happening in November, the military looks like being there for decades to come - especially if foreign financial institutions are keeping them afloat.'

This scandal must be a wake-up call for the UK Government. We already know that insurance syndicates within Lloyds of London have been doing business in Burma, and now Barclays. What else has the City of London been up to? Why is the UK government allowing its already fat cat bankers to get away with such appalling breaches of human rights?

The bank had been charged with breaking the International Emergency Economic Powers Act and the Trading with the Enemy Act between 1995 and 2006.

Well, there was another multi-national corporation doing dodgy things in other countries, which also had an eagle for its logo:

The Nazis

Barclays Bank


Electro-Kevin said...

I have an ongoing issue with Barclaycard.(Now a separate company I know)

It's on my blog now. A clear case of identity theft and their heavies are after me for £10k.

Mermaid of Moorgate said...

interesting. What's their beef with you? You should speak with the Financial Services Ombudsman.

Thanks for the £10k faux fur coat by the way, it's lovely...

lilith said...

I am pleased to say I don't bank with them and never have. Kev, Barclaycard were useless when my credit card got stolen. Even though it was reported to the police, and there was a whole break in, in those days the police came around, but Barclaycard just kept charging the stolen card to my bill, and whoever stole it used it repeatedly in a garage and off licence in Thornton Heath for about six months. They could have caught the idiot who was using it several times over. I was in Spain at the time.

Electro-Kevin said...

Ah. That was you waiting in the Jag outside my house when your man knocked on my door. The gangster's moll.

I must say you're nay bad looking for a down market lass.

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