A gateway to finance

Malta is emerging as one of the fastest growing international financial centres in Europe, building its reputation on sound fundamentals and excellent service. Financial services have become one of Malta’s most important economic generators, registering impressive year-on-year growth and attracting ever-increasing international attention from investors across the world.

While Malta’s positioning as an IFC is primarily aimed at the continental European market place, and described as a well-diversified finance centre, Malta has strong banking, insurance, investment funds and wealth management sectors, all of which are underpinned by universally-praised, EU-compliant legislation, as well as a single regulator that has proven to be both flexible and accessible. So too is a pool of highly trained, experienced professional services providers, driving the business once it enters the country.

However, in view that financial services has become a global industry, the target audience includes operators based in the Middle East, South Africa, Asia and North America. We also recognise the importance of China, India and Brazil and their relevance to Malta insofar as Malta’s positioning as a gateway to Europe is concerned.

Malta is staking its claim on a reputation for stability and security in the wake of the international financial crisis – consequently, the islands’ players are busily expanding international connections across the five continents, intent on positioning Malta as a global centre serving global business.

This is where FinanceMalta comes in. FinanceMalta is a public-private initiative set up in 2007 with the scope of promoting Malta’s international financial centre. It harnesses the resources of the industry and government to ensure that Malta maintains a modern and effective legal, regulatory and fiscal framework in which the financial services sector can continue to grow and prosper.

In its day-to-day work, FinanceMalta communicates Malta’s many advantages to attract foreign direct investment in the areas of financial and credit institutions. These institutions predominantly consist of: regulated entities representing banks, insurance companies, trust companies, fund companies and wealth managers; family offices, which are in effect family wealth corporations; audit and legal firms.

Generally, the approach towards dialogue, planning and execution of communications to our target audience unites government and industry efforts into a single logical direction communicating our robust, excellent reputation as a forward looking and serious financial centre.

FinanceMalta confidently delivers because Malta enjoys a stable, well-managed jurisdiction, a robust, well-respected, regulatory framework and because of its small size and diversified economy. Moreover, a sophisticated ICT infrastructure, English as an official language, an enviable climate and our unique strategic location generate opportunities for industry players not normally found in larger, less nimble, country infrastructures. Thus FinanceMalta leads the marketing efforts of Malta as a financial services centre to ensure that island-based, as well as overseas financial service companies are well informed as to the numerous benefits and advantages of Malta as a place where to do business.

This impressive growth traction translates into attractive career opportunities. While many of the jobs in finance need people with university degrees, there are also many opportunities for holders of vocational qualifications at different levels and for others with good exam grades at Advanced Level. There are jobs that require working at a desk and others that involve moving around to meet clients or attending work related meetings.

The finance industry offers training and development opportunities, good reward packages, career improvement, and excellent working environments. The Malta Financial Services Authority offers more information on career options for you, your friends and children.

Looking forward, it’s guaranteed that the challenges to sustainable growth for Malta are significant in today’s environment, and it’s going to be a bumpy ride, but we as an industry need to think collectively about them today with a global mindset.

Bruno L’ecuyer is the Head of Business Development at FinanceMalta.