JERSEY will officially act to represent Islanders who have an estimated £15 million of life savings frozen in accounts in Icelandic-owned banks in Guernsey and the Isle of Man.

The Economic Development department is urging all Jersey depositors to get in contact, in confidence, so that the scale of the potential losses can be assessed.

The department, which has responsibility for consumer protection, will represent depositors’ interests in dealing with the Icelandic government and authorities in both Guernsey and Isle of Man as it seeks moves to compensate Jersey resident investors.

Economic Development Minister Philip Ozouf said that he had heard ‘heart-wrenching stories’ from hard-working Islanders who faced losing their savings. But the Senator has been the target of an attack from Guernsey’s Chief Minister, Deputy Lyndon Trott, following his suggestion that Landsbanki would not have been allowed to operate in Jersey.

• Anyone affected financially by the problems with Landsbanki can contact the Economic Development Department on 448886

• Picture: Kevin Jones (62), a Guernsey resident who has had his pension savings with Landsbanki frozen. A number of savers in Jersey are similarly affected