Malta Bankers' Association On Latest COVID-19 Developments

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Finance Malta is a non-profit public-private initiative set up to promote Malta as an international financial centre, both within, as well as outside Malta. It brings together, and harnesses, the resources of the industry and government, to ensure Malta maintains a modern and effective legal, regulatory, and fiscal framework in which the financial services sector can continue to grow and prosper. The Board of Governors, together with the founding associations: The Malta Funds Asset Servicing Association, the Malta Bankers Association, the Malta Insurance Association, the Association of Insurance Brokers, the Malta Insurance Managers Association, the Institute of Financial Services Practitioners; its members and staff are all committed to promote Malta as an innovative international.

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The Malta Bankers' Association (MBA) is following developments in the worldwide outbreak of COVID-19 and the significant impact it is having on various national economies

Malta Strategy

The Malta Bankers' Association (MBA) is following developments in the worldwide outbreak of COVID-19 and the significant impact it is having on various national economies.

The likely consequences on the Maltese economy cannot be overlooked and among the sectors particularly at risk are the hospitality and related industries most directly impacted by shifts in tourism.

In this respect the MBA wishes to advise that its member banks are actively assessing the situation of those sectors and customers most affected by these exceptional adverse conditions.

The MBA has received the assurances of its member banks that they are always open to engage with those sectors and customers to determine whether any supporting measures are applicable or merited within their particular circumstances.

This would be done by individual bank members according to the specific situation presented by the customer and which the respective bank would then determine according to the case.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.