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Of paramount importance is the protection of depositors' and investors' interests, therefore only institutions of quality, with proven track records, are granted licences
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Banking

Banks in the Isle of Man are either Domestic or Offshore institutions and are subject to a system of licensing and supervision by the Financial Supervision Commission.

Of paramount importance to the FSC is the protection of depositors' and investors' interests, therefore only institutions of quality, with proven track records, are granted licences.

Protection

In 1988 the Isle of Man strengthened its investor protection legislation with the implementation of the Financial Supervision Act. This subsequently led to the Island becoming the first territory to be granted designated territory status by the UK Government under its Financial Services Act, underlining the Island's reputation as a leading offshore financial centre.


The Island's position was further strengthened on the 31st March 1999 when the 1998 Banking Act received Royal Assent. This act introduced measures which will enable the Island to implement changes recommended internationally by the Basle Committee on Banking Supervision. For more information go to:

Banking Directory

Follow the links below to access information on banking in the Isle of Man and the services of Ernst & Young:

Banking

Depositors' Protection

The Isle of Man was the first offshore financial centre to introduce a Depositors' Protection Scheme.
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