FINANCE ISLE OF MAN

Finance Isle of Man is an Executive Agency of the Department for Enterprise, acting as a key decision making and advisory body supporting the Government’s ambition for long term economic prosperity for the sector.

Purpose

To promote and develop the Isle of Man’s significant financial and professional services industry and ensure its recognition as an international business centre of excellence, in turn delivering long term sustainable economic growth to the Isle of Man.

Objectives

• To create a shared vision and strategy for the Isle of Man’s financial services industries and the Isle of Man as an international business centre in order to promote it both internally and externally, in discussion with the Department, other Government Departments and the relevant regulators;
• To liaise with the finance sector, agree priorities, help drive new ideas, determine and allocate appropriate resources for agreed actions, including the utilisation of private sector funding and secondees, in pursuit of the Agency’s strategic outcomes and the execution of the Agency’s business plan;
• To set clear and measurable targets for success, agreed with the finance sector, and be transparent in reporting progress, including regular reporting to the sector, the Department and Tynwald;
• To act as the primary conduit between government and industry – helping to create the right environment for the sector to achieve sustainable growth, facilitating feedback to the Department and exchanging views with the regulatory bodies regarding opportunities, challenges and risks to the future success of the sector;
• To act as a forum that proactively considers finance-sector related strategic and policy issues, prepares and plans for short, medium and the long-term industry growth with advice up to the Department and Economic Advisory Board more generally.