Optimistic future for banking on the Island

Expertise high on Island says President of IOMBA

Banking is set to see significant changes over coming years - but the Island is well-placed to deal with them.

That's the belief of the President of the Isle of Man Bankers Association, Peter Reid

Speaking during a special "Question Time" session for Manx Radio's Sunday Opinion, Mr Reid said banks would be increasingly 'ring-fenced' by UK authorities to try and ensure the problems of a few years ago don't happen again.

He says banks are already changing the way the work - but the level of banking expertise on the Island is of a very high standard.