ISLANDERS will have to have to wait a little longer to hear how their savings are going to be protected.

Despite a pledge by the Chief Minister yesterday that an announcement would soon be made about the details of a depositor protection scheme, no details have yet been released. Senator Frank Walker (pictured) said this morning that it was a complex issue which could not be rushed.

A statement released by the Council of Ministers said that top-level discussions were continuing with finance industry leaders today on how best to protect Islanders’ savings. The statement also revealed that Island leaders were working with their Guernsey counterparts to move forward and establish an effective protection scheme together.

‘Island residents who are understandably concerned about the safety of the deposits they have placed with banks in the Island,’ it said. ‘In undertaking these discussions, the Jersey authorities are consulting with their Guernsey colleagues. ‘A full statement will be made when these discussions are concluded.’