Nicva suggests uses for dormant assets

Community asset transfer fund among ideas

Unclaimed assets in dormant bank accounts in Northern Ireland should be used either for a community asset transfer fund, a children's bank for young people in disadvantaged areas or a scheme to help community facilities become greener, according to third sector umbrella group Nicva.

Nicva's suggestions, which are based on a consultation with 1,000 charities, are contained in its response to a Treasury consultation into unclaimed assets.

Funds from dormant bank accounts have been earmarked for charitable use across the UK.

In England and Wales, money from unclaimed assets is expected to be used for youth services, to help people excluded from the financial system and for the establishment of a social investment bank.

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