Dear Presidents, Dear Members.
During the WGM of Medemblik, we have elected Philippe Muyzers as treasurer. A long-standing issue was the IACA fortune being located in a Dutch bank within an account not completely in control of the IACA, and the Dutch bank regulations making it hard to find a good solution. I proposed to move the account to a Swiss bank, namely Raiffeisen, the proposal has been accepted by the WGM. The account is now opened and fully operating, its currency is Euros.