During a Press Conference, Minister for Finance and Financial Services Prof. Edward Scicluna and Parliamentary Secretary for Financial Services and Digital Economy Clayton Bartolo announced more financial assistance to ease businesses’ liquidity constraints due to COVID-19 pandemic. Following the launch of the Tax Deferral Scheme and...
The Malta Gaming Authority (MGA) has confirmed that it has signed a Memorandum of Understanding (MoU) with the Financial Intelligence Analysis Unit (FIAU). The MoU will specifically focus on improving the sharing of information on the areas related to the supervision of Anti-Money Laundering (AML) and...
Changes will not affect interest gains paid on Eurobond loans, bond loans of Russian companies and loans extended by foreign banks, according to Russia's Finance Ministry. The Russian Ministry of Finance has notified finance ministries of Luxembourg and Malta about amendments to double taxation avoidance agreements...
World Economic Outlook report projects a 7.5% decline across eurozone Malta’s economy is projected to shrink by 2.8% this year before rebounding into strong 7% growth in 2021, the International Monetary Fund has projected. The 2.8% contraction would represent a negative shift of more than 7 percentage...
Writing for II, Kenneth Farrugia explains how Malta is rising to the challenge of tackling money laundering. The fight against money laundering and the financing of terrorism are crucial issues for the integrity and stability of the global financial ecosystem. Nowhere is this more pronounced than Europe, where...
The Minister responsible for public health, with the concurrence of and in consultation with the Minister for Finance and Financial Services, issued the Moratorium on Credit Facilities Regulations in Exceptional Circumstances through Legal Notice 142 of 2020. Credit and financial institutions licensed by the Malta...
The International Monetary Fund (IMF) has advised Malta to continue addressing deficiencies identified in the framework linked to fighting anti-money laundering and combating the financing of terrorism (AML/CFT) in order to mitigate financial integrity risks in the country. In the conclusion of its Article IV consultation...
In normal times, the role of development banks is to address investment gaps, sometimes called market failures, by offering financing facilities and guarantees to support new investment in productive and viable operations where the commercial banks are unable or unwilling to accommodate on their own...
On the 20th March, the Maltese Government announced a tax deferral scheme to assist local businesses to improve their business liquidity and ease pressures on their cash flow arising from the economic impact of the coronavirus pandemic. Furthermore, the measures aim to encourage the retention...
But the US has its own 'wish list' for Malta Malta has requested the help of the US to avoid the possibility of being put on a list of countries that are not doing enough to fight money launderers. Sources said talks with the US government were...