17 June, 2022

The Malta Chamber of Commerce, Enterprise and Industry welcomes the FATF's decision to remove Malta from its greylist


The past year has been challenging for many businesses exposed to international payments as a result of the grey listing and has seen AML compliance costs rise significantly for operators in the financial services sector. We have also seen intensive efforts by regulatory authorities such as the FIAU and the MBR to address the concerns flagged a year ago in the shortest time possible. The target of being removed from the list has been achieved, but this is only the first step. The next objectives need to be achieving a sustainable regulatory environment whereby AML obligations will be more risk-based, proportionate to the size of the business, and effective at rebuilding our reputation as a reliable and competitive jurisdiction. Striking this balance going forward will be key to restoring our position as a leading financial services provider and developing those segments of the industry where we can have a competitive edge.

The experience of the past couple of years has built competences within the financial services industry that will not only help us be more selective as a jurisdiction about the type of business that we service, but also provide expertise in the field of regulatory compliance that will broaden the offering of our financial services industry.

It is imperative that both Government and regulatory authorities, and the private sector, collectively ensure that we do not let standards slip. We should turn this unpleasant experience into a springboard for a proactive renewal of the financial services industry in Malta.

All News

View All

23 April, 2024

The Malta Chamber BOM pays courtesy visit to the President of Malta...

...

Learn More
16 April, 2024

The Malta Chamber renews gold partnership with Bank of Valletta...

...

Learn More
04 April, 2024

The Malta Chamber extends gratitude to President George Vella and welc...

...

Learn More
27 March, 2024

Celebrate International Business Excellence with the Malta Internation...

...

Learn More

All News

View All

Chamber News

23 April, 2024

The Malta Chamber BOM pays courtesy visit to the President of Malta...

...

Learn More

Chamber News

17 April, 2024

Celebrating Graduates of the Academy for Women Entrepreneurs...

...

Learn More

Chamber News

16 April, 2024

The Malta Chamber renews gold partnership with Bank of Valletta...

...

Learn More

Chamber News

04 April, 2024

The Malta Chamber extends gratitude to President George Vella and welc...

...

Learn More

upcoming events

View All

Upcoming Events

24 April, 2024

Strengthening Europe - MEPs in Dialogue

...

Learn More

Upcoming Events

30 April, 2024

EMPOWERPRENEUR Workshop 1 - Personal Development & Mindset Excellence

...

Learn More

Upcoming Events

08 May, 2024

Understanding your Contractual Obligations

...

Learn More

Upcoming Events

14 May, 2024

Navigating the Future - Trust in the Digital Age

...

Learn More

upcoming events

View All

24 Apr
upcoming event 24 April, 2024, 08:30 AM

Strengthening Europe - MEPs in Dialogue

Learn More
30 Apr
upcoming event 30 April, 2024, 06:00 PM

EMPOWERPRENEUR Workshop 1 - Personal Development & Mindset Excellence

Learn More
08 May
upcoming event 08 May, 2024, 08:30 AM

Understanding your Contractual Obligations

Learn More
14 May
upcoming event 14 May, 2024, 08:30 AM

Navigating the Future - Trust in the Digital Age

Learn More
23 May
upcoming event 23 May, 2024, 08:30 AM

The Professional Imperative - Cultivating Professionalism in Family Businesses

Learn More