Isle of Man 'open for business' for banks

Monday, January 4th, 2016 12:00am

New legislation to promote an alternative banking regime for the Isle of Man will be brought in this year.

That's according to the Department of Economic Development which says the sector has gone through a major transition as it continues to "de-risk".

A new framework is due to come into play in the first quarter of 2016.

Minister Laurence Skelly says the level of enquiries proves there is a market for this type of business:

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