Financial Times: Dormant assets scheme to deploy £800mn in forgotten cash

Pathway’s pleased to see one its co-founders, Stephen Bediako OBE, quoted in the Financial Times.

Commenting on the Government’s Dormant Assets Scheme, Stephen said:

“The creation of a community wealth fund is an exciting development forward in steps to put communities first - with scope to grow and improve local access to focused resources - with local residents empowered and hopefully creating real impact and growth in those areas.”

The Dormant Assets Scheme uses money in bank and building society accounts untouched for at least 15 years and where efforts to trace the owner have proved unsuccessful. When those efforts prove unsuccessful, that money is then used to support what the Financial Conduct Authority refers to as ‘good causes’ - causes like the those of organisations that Pathway works to benefit.

Read the full piece, here.