Progress is being made to attract new investment banks to the Island according the Minister for the Department of Economic Development.
However, responding to a question from Onchan MHK Peter Karran in Tynwald today, Laurence Skelly said it's been a very challenging process in the current climate.
Mr Skelly says this is partly because the global banking crisis has made many banks cautious about opening up new operations.
But he reassured members there are steps the department can and will take to combat this.
Clip 1
Teen took knife out of house to 'scare away' other teenagers
Douglas Council looking to expand allotment scheme to give greater access to nature
Emergency road closure in Tromode this evening
Chief minister keen to release the lease for offshore wind farm