Dáil Éireann Debate, Thursday - 23 November 2017
210. Deputy Niall Collins asked the Minister for Rural and Community Development the progress as committed to under the programme for Government to investigate the German Sparkassen model for the development of local public banks. [49829/17]
Amharc ar fhreagraThe Programme for a Partnership Government envisaged that An Post, the Irish League of Credit Unions and other interested stakeholders would be asked to investigate and propose a new model of community banking, such as the Kiwibank model in New Zealand, which could be delivered through the post office network. The Programme for Government also includes a commitment to investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions.
My officials have been actively working with the Department of Finance to progress the Programme for a Partnership Government commitment. A project team was assembled earlier this year involving officials from both Departments. In addition, a public consultation process, seeking views on the community banking model, was launched in early March and ran for four weeks. A total of 16 replies from a range of stakeholders were received. Officials from both Departments also met representatives from the International Sparkasse Foundation to learn more about the model.
The Departmental officials are now finalising their report and I expect that this report will be submitted to both myself and the Minister for Finance shortly for consideration.
