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The regulatory intervention in Fintech could make or break its development
“The nature of the regulatory response to FinTech is a critical topic for both regulators and market participants. The challenge is to identify when the regulator should step in – the regulatory ‘tipping point’ between allowing innovation to develop without regulatory intervention and taking regulatory initiatives. Malta’s evolving approach towards Fintech is one that aspires…
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Tax issues at Eurogroup and ECOFIN meetings
“The adoption of the principle of proportionality when dealing with small, though systemic banks, should be taken into consideration during the implementation process of any Banking regulations”. This was stated by Minister for Finance Edward Scicluna during the Eurogroup meeting in the margins of the Economic and Financial Affairs Council (ECOFIN) in Brussels. PRESS RELEASE…
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Eurogroup meeting – November 2017
“The benefits of human capital experienced by the economy as a whole, as well as on a personal level, are undeniable. Malta remains committed to continue to invest in education and training thereby continuing to improve the quality of our labour force. Government will further its work in this area and will build on the…
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We are succeeding in having a diversified access to finance
“We have been introducing a number of fiscal measures all aimed at attracting investors to use alternative financial institutions where to invest other than the traditional banking sector. Such diversification will not only increase the options of access to finance by the economic operators but will reduce the cost of finance”, said Minister Edward Scicluna…
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The Malta Development Bank: A catalyst of alternative finance
“The Malta Development Bank’s strategic objective is to address market failures by offering financing facilities to support productive and viable operations where the market is unable or unwilling to accommodate such activities on its own in whole or part. Its operations will focus on the provision of facilities to SMEs and infrastructure projects that contribute…
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Consistent improvement in the fiscal balance in the first nine months of 2017
A surplus of €56.4 million was recorded in the consolidated fund balance for the first nine months of this year. This represented an improvement of €120.1 million in the consolidated fund balance, turning a deficit of €63.6 million recorded in January to September last year, to a surplus this year. PRESS RELEASE BY THE MINISTRY FOR FINANCE This significant improvement was…
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MALTA: INLESTU GĦALL-FUTUR
Il-Ministru għall-Finanzi Edward Scicluna indirizza konferenza stampa bil-għan li jispjega aħjar id-diversi miżuri fiskali ppreżentati fil-budget għas-sena d-dieħla. STQARRIJA MILL-MINISTERU GĦALL-FINANZI Il-Ministru Scicluna qal li dan hu budget sinifikanti għax ma ġiet introdotta l-ebda taxxa, anzi, għall-kuntrarju, il-Gvern ra li jnaqqas il-piż minn fuq il-ħaddiem u n-negozjant iż-żgħir b’tax refund ta’ bejn €40 u €68, li se tingħata lil mitejn…
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Legal profession practicing in commercial activities
“Legal practitioners have an obligation to adopt high standards when it comes to customer due diligence, including strict know-your-customers procedures. We must not allow criminals to set up shop in Malta. Company legal practitioners should also be vigilant on the ongoing activities carried out by Maltese companies”, stated Minister for Finance Edward Scicluna when addressing…
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We are for a sound economic and financial governance
Addressing a seminar discussing “The Role of Fiscal Policy for Sustainable Economic Growth”, organised by the European Commission Representation in Malta and the Malta Fiscal Advisory Council (MFAC), Minister for Finance Edward Scicluna said that the principle behind the setting up of Malta’s independent fiscal institution was crucial for the Government’s success in the fiscal…
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Further business opportunities for the insurance agencies
Minister for Finance Edward Scicluna welcomed the renewed commitment of Argus Insurance Agencies to expand their operations in Malta, while addressing their staff with their business partners at an event held over the weekend. Minister Scicluna commended the company for having a majority female workforce as well as its policy to adopt family-friendly measures. PRESS…