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MHK concerned about 'massive change' in banking industry

But minister says it's not for government 'to get involved'

The Treasury Minister says he won't stand in the way of changing banking habits.

Alfred Cannan was quizzed in the House of Keys this week about the implication of virtual banks entering society.

Garff MHK Martyn Perkins raised concerns that Covid-19 has accelerated 'massive change' in the industry.

He questioned the implications for the issue of government banknotes if the Isle of Man Bank was to close all its offices.

However Mr Cannan said it wasn't for government to get involved:

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