Economic stability and political consensus have been central to the industry’s continuing growth and to Malta’s success in attracting new financial services activities. MFSA Chairman Professor Joseph Bannister said this in the Annual Report tabled in Parliament yesterday.

“Malta’s political, economic and regulatory stability has taken on greater importance to the continuing growth of the finance industry than prior to the financial crisis of 2008,” says Professor Bannister. He cites the fact that the country is leading the EU in the creation of new monetary financial institutions, the strong rankings Malta’s finance sector achieved for bank soundness and financial market development in the World Economic Forum’s competiveness index and the steady flow of new licenses granted by the MFSA to local and incoming financial concerns.