BNZ sets aside $50M to help iwi get their Treaty settlement funds

Fri, 29 Nov 2013

Nov. 29 (BusinessDesk) – The Bank of New Zealand is angling for a bigger slice of burgeoning Maori economic activity, establishing a $50 million fund to bridge financial gaps that can delay the payment of Treaty of Waitangi settlement funds to claimants. Around $1.5 billion in funds from existing Treaty claims are yet to be paid out, with the processes surrounding payouts sometimes taking between three and seven years to conclude, the head of the bank’s Maori business team, Pierre Tohe, said. “Many iwi can’t afford the ongoing costs of the p...

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