The Malta Institute of Accountants expresses its satisfaction that the Financial Action Task Force (FATF) has taken Malta off its grey-list.

A timely exit from the grey-list, which the Institute had immediately called for, was imperative to limit the impact of this decision and offer the jurisdiction the opportunity to get back on track in its efforts to place itself among the most reputable counterparts in the industry.

The Institute commends the efforts of financial services practitioners and other professionals who have worked tirelessly over the past months to ensure the strengthening of the financial services sector’s reputation, an effort which has contributed in no small way to this desired result.

Malta’s de-listing should not however, constitute a point of arrival. All stakeholders have a responsibility to remain vigilant at all times and to continue improving on the higher quality that has been reached today.

While the exit from the grey-list is an important and a welcome achievement, it is our collective duty to restore Malta’s place where it deserves – as an international financial jurisdiction of high repute, which attracts high quality investment based on substance, and contributes to sustainable economic growth and job creation.