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Malta will survive the current severe test on its financial institutions
“Malta’s financial sector is at the moment passing through a severe stress test both locally and internationally but investors from outside believe in us and we will continue to be one of the competitive choices in the Mediterranean.” PRESS RELEASE BY THE MINISTRY FOR FINANCE This was stated by Minister Edward Scicluna during a seminar…
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Sustainable development goals at the Commonwealth Local Government Conference
“Malta is in the process of launching its own development bank.” This was stated by Minister for Finance Edward Scicluna whilst addressing a Commonwealth Local Government Conference. PRESS RELEASE BY THE MINISTRY FOR FINANCE He stressed that this bank would address market failures where, because of ever increasing regulatory restrictions, commercial banks were more risk…
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High-Level Conference on Development Financing in Qatar
“Being a small island state Malta has a lot to offer in the area of sustainable development, in view of its small size and various development pressures. Two areas which stand out are solid waste management and water resource management”, said Finance Minister Edward Scicluna at the High-Level Conference on Financing for Development and the…
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Prudent policies and advanced structural reforms contribute to higher wealth
Minister for Finance Edward Scicluna welcomes the IMF 2017 Article IV Mission Concluding Statement, stating that prudent policies and advanced structural reforms contributed to the strengthening of private and public-sector balance sheets, whilst steady job creation drove unemployment to historically low levels. “I am also pleased to note that the IMF recommendations on building…
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MONEYVAL preparatory training programme
Minister for Finance Edward Scicluna addressed a two-day training programme organised by MONEYVAL as part of the Country Preparation Programme. The Minister stated that, “Malta has the ability to close any lingering gaps, if any are found, within its coordination mechanism and the respective institutions to ensure that it remains fully compliant to the principal…
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Persistence and entrepreneurial spirit of the Maltese nation will see it through the challenges of increased regulatory requirements
“We have done pretty well with regards to economic growth as everyone can see, and the growth in the capital market is also something of an achievement. I am sure that every one of you has a vested interest to see this positive development continue.” This was stated by the Minister for Finance Edward Scicluna…
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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…