Research Links Bank of England to Transatlantic Slave Trade

Research from the Register of British Slave Traders reveals that the Bank of England and the broader British financial system were deeply integrated into the transatlantic slave trade for centuries. Historian Dr. Michael Bennett found that 24 Bank of England directors and at least 30 founding subscribers, including King William III and Queen Mary II, invested in the trafficking of enslaved Africans.

The findings indicate that wealth from the slave trade contributed to the Bank's initial capital. The institution also provided direct financial services to the Royal African Company and the South Sea Company. This data builds on previous records from the Legacies of British Slavery archive, which documented the Bank's role in paying 20 million pounds in compensation to enslavers after abolition in 1833.

While the Bank of England has apologized and hosted an exhibition on its history, the British Treasury has not publicly acknowledged culpability or supported reparations.