Malta’s Strive for Financial Services Superiority

Malta at the Forefront of Innovation

Malta strives to reach financial services superiority by constantly developing and implementing innovative legislation which offers high degrees of consumer protection whilst also promoting creativity in business development. This has allowed the Maltese financial sector to grow exponentially, with the Maltese financial sector experiencing a growth of 11.8% between 2022 and 2023 alone.

Malta’s 10-Year Strategy for Financial Services

General Aims

In 2023, the Government of Malta, through the Malta Financial Services Advisory Council unveiled Malta’s 10 Year Strategy for Financial Services, confirming Malta’s commitment to further strengthen Malta’s position and performance in the financial sector by creating a digitally enabled, easy-to-use financial system.  

Malta’s Strategy confirms that Malta seeks to “be recognised as a competitive, secure and credible jurisdiction for Financial Services that excels in innovation and responsiveness through a nimble and joined-up regulatory framework and a robust technology foundation.”

Key Strategic Thrusts

The proposed strategy is built on several key strategic thrusts designed to underpin Malta’s transformation.

Streamline Regulation

Malta seeks to align and integrate regulatory processes across key institutions to ensure consistency, timeliness and proportionality in approvals, compliance and enforcement.

Standardize Payments

Malta aims to enhance the national payments system for greater transparency, security and efficiency, linking seamlessly with international payment hubs.

Consolidate Identity

Malta seeks to develop a constant and secure identity management system to facilitate due diligence and compliance processes.

Modernize Taxation

Malta intends to implement a technology-driven tax reform to simplify processes, enhance compliance and reduce opportunities for abuse.

Retain a Responsive Legal Framework

Malta strives to retain its highly responsive and adaptable legal framework to ensure it continuously reflects the current and future economic and commercial realities, ensuring robust and modern financial regulations that ensure legal certainty and stability.

Continuously Build Talent

Malta seeks to continuously build talent to propel the Maltese financial services sector by offering free high-quality education all the way to tertiary level, as well as other schemes which promote the highest levels of education, ensuring a workforce which excels in meeting the demands of the ever-evolving financial sector.

Achieve Financial Excellence with Zeta’s Guidance

Zeta’s team possesses a deep understanding of regulatory frameworks, innovative financial technologies and market trends, allowing us to assist clients in navigating the complexities of the financial landscape. Contact Zeta today to see how we can assist you in achieving your goals.