FinanceMalta celebrates its 15th anniversary this year with a series of activities involving its Board of Governors, staff, previous Chairmen and members.
FinanceMalta was set up in 2007 as a member based, non-profit public-private initiative responsible for promoting the Maltese Islands as an international financial services centre. FinanceMalta harnesses the resources of the industry and government to ensure the jurisdiction maintains a modern and effective legal, regulatory and fiscal framework in which the financial services sector can continue to grow and prosper.
To implement its mandate, the Foundation builds on the support and expertise of its founding members, namely the Maltese Government, the Malta Asset Servicing Association (MASA), the Malta Bankers Association (MBA), the Malta Insurance Association (MIA), the Association of Insurance Brokers (AIB), the Malta Insurance Management Association (MIMA) and the Institute of Financial Services Practitioners (IFSP).
FinanceMalta entered the scene at a critical time, just as Malta was joining the eurozone. The financial services sector is now a major force in the country’s economy, employing some 12,000 individuals and contributing to around 12 per cent of Malta’s GDP. Over the years, the foundation focussed its promotional efforts in the main jurisdictions of interest, such as the United Kingdom, Europe, the Middle East, the US and the Far East.
Chairman Rudolph Psaila said: “I am truly proud to be leading FinanceMalta throughout this important milestone. For the past 15 years we have done our utmost to promote Malta’s financial services internationally. We have faced difficult challenges, but we have also witnessed periods of significant growth for the industry and for the Maltese economy. During the last 15 years, we have always placed our members at the core of our activities, providing them with international visibility and networking opportunities to attract more business towards our shores. It is our intention to remain on this path and to continue contributing and maintaining the financial services sector as one of the main pillars of our economy.”
In the last two years, FinanceMalta faced unprecedented challenges and had to adapt its operations accordingly due to the pandemic. Nonetheless, the Foundation was able to bring together industry stakeholders through a number of outreach events and initiatives, both online and in-person, in Malta and abroad.