An MHK is proposing a new regime of scrutiny and insurance for the banking sector in the Isle of Man.
Onchan member Peter Karran wants Treasury Minister Allan Bell to consider an insurance scheme to protect investors in the Island's finance sector.
Mr Karran is suggesting a National Bank of Man to oversee an insurance scheme for financial institutions, so tax payers are not asked to bail out any banking failures in the future. It would also act as an extra financial watchdog.
He says govenment must take a more pro-active role in future (play attached audio file):
Mr Karran was the only Tynwald member to vote against the Early Payment Scheme for depositors in the collapsed bank KSF Isle of Man, at this month's sitting.
Under the scheme, payments of ?1,000 will be made to eligible KSF account holders, in advance of any further compensation.
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