Lord Hunt of Wirral has launched his strategic review of banking in Guernsey with the publication of a detailed ‘call for information and submissions’. Hunt has called on all stakeholders to contribute to the review of Guernsey’s banking industry.
The document gives the background to the review, outlines banking services in Guernsey, and asks a series of detailed questions on information the review would be particularly interested to receive. Lord Hunt and his team will make various visits to Guernsey to meet interest groups to hear their point of view and debate issues with them.
Hunt said:
"The global banking system has withstood the crisis of Autumn 2008 and a measure of stability is being enjoyed once again. However, the journey to full health and prosperity has some way to run. Banking in Guernsey must find a path through a changed and changing landscape in order to make the best contribution it can to the island's economy. This review is intended to point the way.”
“So I want the review to stimulate wide ranging debate amongst the industry and other stakeholders. The document that I am publishing today is the start of that debate. The questions I am asking are designed to focus attention on some key areas, rather than to be an exclusive list. I am anxious to hear new ideas and fresh insights.”
“My aim is to produce concrete recommendations in the third quarter of 2009. I look forward to working with all interested groups in framing them".
Interested parties are able to engage in the debating process through Guernsey's Commerce and Employment Ministry sub-section on the government's website.
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