Malta's domestic banking sector is small and follows traditional principles, yet a steadily growing international banking presence is capitalising on interesting new opportunities such as those presented by the island’s emerging fund management and insurance industries.
Since joining the EU six years ago, the Maltese banking sector has flourished and the country has developed a firm yet flexible regulatory regime, supported by the European regulatory environment. In this Masterclass, Professor Joseph Bannister, president of the Malta Financial Services Authority (MFSA), discusses the recent restructuring of the authority and how it aims to further strengthen Malta's status as an international financial centre. Writer Michael Imeson
While the EU’s political and currency projects grind to a halt in many of the big states, Malta has just joined the ERM. Next stop, the euro. Michael Imeson reports.The past few months have been tough for proponents of closer union in Europe. But in Malta, which joined the EU just over 12 months ago, the integration process continues.