Funding news

Banks plan to use unclaimed assets for charity - Thursday 13 July 2006

The banking community yesterday welcomed a government-led proposal to set up a "social investment bank" that would reinvest unclaimed assets lying dormant in banks and building societies into the community, but shareholder groups warned more needed to be

The government-led Commission on Unclaimed Assets launched a formal consultation paper yesterday in which it proposed to set up an independent financial institution to channel unclaimed funds to charities and community organisations in the form of equity investment, bonds and financial advice.

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