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IoM approves principle of early payment scheme for KSF IoM depositors

The Isle of Man parliament has approved the development of an early payment scheme for to help depositors with Kaupthing Singer & Friedlander Isle of Man.

The scheme, funded from government reserves will make £1,000 per account holder available as an initial measure pending the finalisation of a more comprehensive solution.

Details of the scheme including how it will operate and how to make a claim will be finalised and published in due course. It is hoped that the scheme will start early in the New Year.

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