FinanceMalta targets industry growth beyond Europe

Malta is ramping up its global presence in financial services, with FinanceMalta spearheading efforts to position the jurisdiction as "a trusted and agile financial centre in strategic markets beyond Europe," particularly in Asia, Chairman George Vella annouced, after the publication of its 2024 annual report. 

Over the past year, FinanceMalta has significantly deepened its engagement with global institutions, resulting in increased interest from international stakeholders looking to set up shop in Malta. Of particular note is the growing collaboration in Asia, with Japan emerging as a key partner. This engagement opens the door to two-way partnerships and valuable opportunities for Malta’s financial services sector, reinforcing the island’s relevance in new markets.

“Our outreach in 2024 reflects a deliberate and strategic approach to positioning Malta as a preferred destination for financial services,” said Vella said. 

“2024 has been a year in which we continued to consolidate the momentum gained in the previous year. This was achieved through strong collaboration with our stakeholders, members, and the authorities, which enabled us to remain agile and responsive to the needs of the financial services industry. We are confident that this collective effort will continue to support Malta’s positioning as an innovative and forward-looking jurisdiction.”

Among the most significant developments this year is the government’s decision to defer the implementation of the OECD’s Pillar Two rules—a move backed by FinanceMalta. This decision has helped preserve Malta’s competitiveness while allowing time to ensure alignment with EU State Aid requirements. It has also contributed to maintaining investor confidence during a period of significant international regulatory change.

Throughout the year, FinanceMalta, who membership has now reached almost 300 financial service industry players, has also reinforced collaboration with key stakeholders, most notably through its work with the Malta Financial Services Advisory Council (MFSAC). This joint effort has focused on aligning public and private initiatives to future-proof the sector and ensure that strategic planning translates into practical outcomes.

Together, FinanceMalta and MFSAC have worked diligently to develop and implement initiatives aimed at supporting the sustainable growth of Malta’s financial services sector, while also enhancing the broader competitiveness of the Maltese economy. This collaboration has ensured that the industry’s voice is consistently represented in high-level discussions with policymakers.

The report further highlights FinanceMalta’s role in championing innovation-led growth, particularly in areas such as fintech, ESG-aligned finance, and digital services. These sectors are increasingly seen as central to Malta’s ability to adapt and strengthen itself as an international jurisdiction of choice.

Looking ahead, FinanceMalta’s strategic priorities remain clear: to strengthen Malta’s international profile, accelerate digital transformation, and support a regulatory and fiscal environment that is both competitive and responsive to global developments.

The full Annual Report 2024 is available on https://financemalta.org/publications