Ever since its institution, FinanceMalta has played a pivotal role in promoting Malta as a Financial services centre, while acting as a conduit between the local industry and potential investors. WhosWho.mt caught up with Graziella Grech, Chief Operations Officer at FinanceMalta, who reveals how the foundation goes beyond promoting the sector as it takes on a more strategic and advisory role.

FinanceMalta absolutely requires no introduction to those operating in the financial services industry in Malta. The foundation has built a solid reputation for itself both locally and on the international stage, as it has promoted the island in relevant circles, nurturing an industry which can now boast to be the second most important pillar of the Maltese economy, contributing no less than 11 per cent of the country’s GDP.

“It has been quite the ride,” Graziella, who has been at FinanceMalta for a little over a year says. “Placing our members at the centre of our efforts, we are building on our successes to create more opportunities for growth for the industry as a whole, as well as for members individually.”

With 27 years’ experience in the financial services industry, Graziella seeks to strengthen relationships with the foundation’s members to foster collaboration and mutual success.

The financial services sector remains one of the most critical pillars of Malta’s economy. The industry has seen its fair share of ups and downs, yet over the years it has proven to be resilient to the blows, coming back stronger than before. “Like any other sector, we have had our challenges, but we managed to turn them into opportunities for growth. For example, the greylisting by the Financial Action Task Force (FATF), was certainly a cold shower, however it prompted a national concerted effort to rectify the problematic issues, in order to make sure that such an episode is not repeated. In fact, the record-early exit from the listing was an achievement in its own right, but also proved the country and the sector’s commitment towards ensuring a sustainable and vigilant future.”

Malta as a world-class jurisdiction, remains committed to addressing all issues with international stakeholders, as it continues to strengthen its regulatory framework and attract prominent sectors like fintech.

“Malta remains attractive to the financial services operator, as it offers unparalleled advantages over competing jurisdictions. The cost of setting up is extremely competitive in Malta, even when compared to fellow Mediterranean jurisdictions,” Graziella notes. “Additionally, the country offers an advantageous taxation system which continues to encourage investment, while specialised human resources and government incentives make it an attractive destination for financial services.”

"Malta has signed double taxation agreements (DTAs) with over 70 countries. These agreements are designed to prevent individuals or companies from being taxed by both Malta and another country on the same income. The countries Malta has DTAs which span across various regions, including Europe, Asia, Africa, and the Americas," Graziella explains. The next frontier is certainly the land of the rising sun – Japan, which has been identified as a promising market, particularly in the fintech sector. “Malta has a lot to offer, bringing the seemingly distant countries ever closer, on the collaboration front. FinanceMalta will be paying special attention to the Eastern country, especially as the World EXPO 2025 will be held in Osaka – certainly an opportunity for dialogue and a healthy exchange of ideas.”

Beyond promoting Malta as a financial hub, FinanceMalta also plays a strategic role in shaping policy. The newly set up Malta Financial Services Advisory Council (MFSAC), which is composed of key-entities such as FinanceMalta, the Malta Financial Services Authority (MFSA), the Malta Business Registry (MBR), the Financial Intelligence Analysis Unit (FIAU), the Commissioner for Tax, and the Malta Institute of Accountants among others, was instrumental in advising on policies that enhance Malta’s financial infrastructure.

“At FinanceMalta we are close to our members, and hence have first hand knowledge of the sector on the ground. In fact, we are in an optimal position to advise policymakers on strategic matters. This allows us to identify sectors which are seen to be potentially attractive. For example, the field of aircraft leasing has been attracting interest. Malta’s strategic position and financial infrastructure make it a competitive player, and FinanceMalta is committed to advise government to provide the necessary legal infrastructure to encourage growth and investment,” Graziella continues, with the next frontier being the maritime industry, which appears to be offering similar opportunities for growth and innovation.

“Over the past months, we have seen a significant growth in terms of interest to join FinanceMalta. In fact, the membership base has increased by more than 50 per cent in 2024. This remarkable increase shows how members are recognising the value of being affiliated with FinanceMalta. When promoting the sector with our international peers across the globe, we make it a point to underline the extensive advantages of setting up shop in Malta; which has established itself as a financial services hub, highlighting businesses who have done so successfully already.”

Networking remains an important element for FinanceMalta members as it provides for the perfect opportunity to meet like-minded high-powered operators, creating synergies and collaborations. “Earlier this summer, in July, we organised the FinanceMalta Summer Soirée, which attracted no less than 300 attendees at The Phoenicia. The event, which was free of charge for FinanceMalta members, provided the perfect setting for members to meet, in an informal environment.”

Within this context, FinanceMalta is holding its 17th Annual FinanceMalta Conference, on 29th November, at the Hilton Malta, titled ‘Empowering Financial Services’. “The event, promises to be a unique opportunity for members and decision makers to meet and share their views, while discussing the future of the industry.”

In fact, the event which is the only one to cover all sectors within the vast financial services industry, will feature internationally renowned speakers, including Carmine Di Noia, Director for Financial and Enterprise Affairs at the OECD; Cotaro Ishi, Mission Chief at the IMF; and Panagiotas Polidoros, Mastercard’s Country Manager for Greece, Cyprus, and Malta.

With a record 34 sponsors, the event underscores the strong support and interest in Malta’s financial services sector. In addition to the main event, attendees will also have access to a pre-conference event at Casino Maltese on the eve, providing further opportunities for networking and engagement.

“As FinanceMalta continues to ensure visibility for its members and the financial services industry at large, both locally and internationally, the upcoming conference promises to provide the perfect setting that is conducive to success,” Graziella concludes.

For more information about the event, and to register, click here.