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Federal Government EndorsementA Bank for the Charitable Sector - March 31, 2004"Interest has been expressed in the concept of a bank targeted at the unique challenges of the charitable sector. Proponents of the concept see it as offering a range of specialized financial services and advice, specifically tailored to the requirements of the charitable sector. It could broaden the range of financial instruments available to the sector, as well as its financial-planning capacity. The idea of a bank for the charitable sector is an innovative concept worthy of further development. Private and voluntary sector support for this promising initiative has the potential to leverage the capabilities of a sector that comprises thousands of organizations working for the benefit of all Canadians. The Government welcomes the opportunity to help explore fully this promising idea by working closely with its proponents as they pursue the federal regulatory and taxation issues related to the creation of this new bank." |
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