Banking and finance

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Malta’s has an EU compliant banking sector of world-class sophistication currently hosting 24 foreign or privately owned credit institutions with total assets of 41 billion Euro as of December 2009. The World Economic Forum’s Competitiveness Index 2009-2010 has ranked Malta’s banking system as the 13th soundest in the world.

Malta’s international banking centre has been gaining considerable ground in establishing itself as a finance hub in the Mediterranean with some of the most highly respected names in the industry establishing operations in Malta; the most recent arrival being Deutsche Bank. The spread of products and services being offered by banks in and from Malta include retail banking, private banking, commercial banking, trust business, investment banking, trade finance, treasury operations and syndicated loans.

Banking business in Malta is regulated by the Banking Act 1994 and an array of rules and Guidance notes which provide a modern regulatory regime with all the flexibility necessary in a dynamic banking environment. This Act also makes provision for authorisation procedures relating to the opening of branches and representative offices of foreign banks in Malta. This Act furthermore makes provision for the regulation of electronic money institutions.

On the other hand, the Financial Institutions Act, 1994 regulates non-bank financial institutions.

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»Electronic Money Institutions
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For further information about banking institutions please download our brochure