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REVIEW OF THE BANKING SECTOR FOR THE ISLE OF MAN GOVERNMENT

The brief
In 2007, Scorpio Partnership was appointed by the Isle of Man Government to support a review of the island's banking sector. The aim was to develop a clear action plan that would ensure the prosperity of the sector over the next five years.
 
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An international review
We conducted more than 250 hours of interviews with senior professionals internationally seeking input on the trends affecting the global offshore market place as well as views on the Isle of Man as a financial centre.
 
Success in the offshore context
In addition, we considered a wide range of factors that contribute to success in the offshore context including regulation, cross-sector cooperation, the importance of growth markets and other financial trends.
 

  

A clear action plan to ensure the continued prosperity of the Isle of Man banking sector

The result

The review was presented to parliament in February 2008. Within the review is an action plan with 38 detailed recommendations which now forms the foundation for the banking strategy in the Isle of Man. 

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