The bank provides a comprehensive suite of Trade Finance, Commercial Banking, Private Banking, and Asset Management services, supporting customers in their dealings with Organisation for Economic Co-operation and Development (OECD) markets and assisting companies seeking to invest in or trade with Africa, the MENA region, Asia and other international markets.

Authorised by the Prudential Regulation Authority (PRA) and regulated by both the Financial Conduct Authority (FCA) and the PRA in the UK, The Access Bank UK Limited has built an international footprint that reflects its strategic ambitions. Its Dubai branch, located in the iconic Gate Building of Dubai International Financial Centre (DIFC), is regulated by the Dubai Financial Services Authority (DFSA). The Paris branch is authorised and regulated by the French Prudential Supervision and Resolution Authority (ACPR), while its Hong Kong branch, situated in the Central District of Hong Kong Island, is regulated by the Hong Kong Monetary Authority (HKMA). The bank’s most recent addition, The Access Bank Malta Limited—its first fully owned European subsidiary—is based in Sliema and is licensed and regulated by the Malta Financial Services Authority (MFSA).

Aligned with the ethos of its parent company, The Access Bank UK Limited is focused on developing a sustainable business model underpinned by prudent risk management, a strong customer service culture, and long-term customer relationships. Rather than pursuing unsustainable yields, the bank prioritises steady, quality growth through strong customer connections, in line with the group’s broader vision to become “the world’s most respected African bank.”

The Access Bank UK Limited plays a critical role in facilitating trade between Africa and the rest of the world. It holds confirming bank status under the International Finance Corporation’s Global Trade Finance Programme, enhancing its capabilities in this space. It was also the first Nigerian bank in the UK to be appointed as a correspondent bank to the Central Bank of Nigeria, undertaking infrastructure work on behalf of the Nigerian government and issuing Letters of Credit for both the government and the Nigerian National Petroleum Corporation (NNPC).

The Commercial Banking division offers a wide range of relationship-driven services to corporate and individual customers, supported by competitive pricing, modern technology, and high service standards.

Meanwhile, the Global Private Bank delivers bespoke investment solutions shaped by trust, integrity, and performance. A highly experienced private banking team provides clients with proactive service and tailored investment strategies.

In Dubai, the bank serves customers across the MENA region, facilitating trade and investment with Nigeria and broader African markets. The DIFC branch continues to emulate the successful relationship-based approach that has proven effective in the UK and elsewhere.

The Access Bank UK Limited is led by an experienced management team with deep expertise in African, MENA, and international markets. Employees benefit from ongoing professional development, fostering a culture of commitment and professionalism. This dedication was reaffirmed when Investors in People (IIP) re-accredited the bank with platinum status in 2023, recognising excellence in people management.

The year 2024 marked a period of strategic advancement, particularly in expanding Access Bank’s global operations. Following regulatory approval from the Hong Kong Monetary Authority in December 2023, the bank launched its Hong Kong Restricted Licence Branch, becoming the first West African bank to establish a presence in the region. This milestone strengthens Access Bank’s ability to capitalise on trade flows between China, other major Asian markets, and Africa, complementing its already successful models in Dubai and France.

In a further milestone, The Access Bank Malta Limited was approved in late 2024, making it the first bank to be licensed in Malta in nearly a decade and the first African bank to receive such an authorisation. The Malta office will play a key role in the bank’s European strategy.

According to the recently published 2024 Annual Report and Financial Statements, the bank exceeded its strategic objectives, highlighting robust execution and long-term vision. Titled “Africa’s International Gateway,” the report outlines strong performances across all Strategic Business Units (SBUs), with continued momentum in Europe and Asia. Total income grew by 18% year-on-year to USD 244.3 million, marking the second consecutive year the bank exceeded the USD 200 million income threshold.

Trade Finance remained the largest SBU, posting a 0.85% increase to USD 107 million (2023: USD 106.1 million). Commercial Banking experienced significant growth, with income rising 34.3% year-on-year to USD 106 million (2023: USD 78.9 million), and customer deposits climbing to USD 1.55 billion, a 6.8% increase.

The Asset Management division recorded its strongest performance to date. Designed to complement the more cyclical trade finance offering, the private banking strategy allowed clients to mitigate Naira-related risks through hard currency investments. As a result, Assets Under Management (AUM) rose to USD 565 million (2023: USD 440 million), a 23.37% increase, while income grew by 35.58% to USD 14.1 million (2023: USD 10.4 million).

Commenting on the results, CEO and MD of The Access Bank UK Limited, Jamie Simmonds said, “The year was marked by an acceleration of the bank’s efforts to deliver on its mandate from the Group to create and expand a strong international capability to capitalise on global trade flows into and out of Africa. The year’s solid performance has left us well-placed to build on the consistent progress of recent years and to start generating income from our expanded international network.”

David Charters, Chairman and Independent Non-Executive Director, added, “The launch of The Access Bank Malta Limited, our first fully owned subsidiary, and our status as the first bank in West African bank to establish a presence in Hong Kong, were the undoubted highlights of a year which saw the continuation of our international expansion plans. We enter the year ahead with cautious optimism, and in expectation of further measured growth, as our international operations move from the investment and start-up phase to start generating trade flows and income, whilst our core strategic business units continue to build on their successful financial and operational track records.”

The post The Access Bank UK Limited: Driving global growth through sustainable banking appeared first on International Finance.

A spokesperson of Binance claimed that BGBP was the exchange’s first experiment with a fiat-backed stablecoin and was more of a proof-of-concept. One of the major reasons for discontinuing the stablecoin was that the issuance/redemption process associated with it was not users friendly.

Users will still be able to exchange any remaining BGBP into UK pounds through Binance’s Convert service. Interestingly, Binance also has a US dollar-based stablecoin, BUSD which is performing really well. It is reported that BUSD was one of the fastest-growing USD-backed stablecoin in the past year. Around $2.4 billion BUSD had been issued in total in September, according to the Binance spokesperson.

According to data provided by CryptoQuant, a total number of 18,652 bitcoin, worth nearly $300 million, was transferred from Huobi to Binance in the last couple of days. This is a result of the Chinese government’s cracks down on several crypto exchanges operating in China.

Earlier this year, Binance applied for an operating licence in Singapore under the new payment legislation. Binance has set up an office in Singapore and is backed by the venture capital arm of Singapore’s Temasek.

Binance co-founder and chief executive Zhao Changpeng, told the media in a phone interview, “We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.”

The post Cyrpto exchange Binance to discontinue its stablecoin BGPB appeared first on International Finance.

While there is a lot of excitement around blockchain with regard to how blockchain can break down barriers, improve trust, and enhance traceability and transparency of transactions, a PWC survey notes that regulatory uncertainty is a key concern that mars the development of blockchain projects, followed by the lack of trust, and interoperability. Blockchain regulation is something that has seen a lot of knee-jerk reactions from governments in different parts of the world. Regulators worldwide have shown a mixed reaction to tokens and initial coin offerings (ICOs).

Malta along with Switzerland and Singapore has moved toward forming regulations on tokens to speed the growth of blockchain development. The US, on the other hand, has shown a typical agnostic approach to regulation, leaving it to the different states to come up with their own regulations. The official People’s Daily of China, called for the regulation of blockchain technology at the domestic level. The Chinese Communist Party’s official media, however, doubled down on the government’s commitment to harnessing the technology’s benefits.

With the haphazard manner of blockchain regulation, companies are left to guess how regulators in their jurisdictions will regulate commercial activities migrating to the blockchain. PwC advises blockchain entrepreneurs to keep abreast with regulatory developments and to engage with lawmakers at all levels. What if the government of a state itself took a proactive stance to blockchain regulation while keeping blockchain entrepreneurs in the loop?

That is what the Mediterranean island nation of Malta with its unique geographic position straddling Europe, the Middle East, and Africa has gone ahead and done, as it tries to position itself as the ‘Blockchain Island’. In the middle of last year, Malta became the first country in the world to provide an official set of regulations for blockchain, cryptocurrency, and distributed ledger technology companies. The goal was to provide companies the ability to work in a regulated environment.

The government understood the fact that serious entrepreneurs in the blockchain, cryptocurrency, and distributed ledger space needed legal certainty. In fact, the paranoia of operators in these sectors is that one or two years after they have set up operations and started growing their businesses, the ruling dispensations of the day might one day come up and tell them that their operations are not within the law.

Even though very few countries have legislated on blockchain technology, Malta wanted to gain a first-mover advantage by providing entrepreneurs the assurance of legal certainty. Malta became the first country in the world to offer a comprehensive DLT regulatory framework when parliament passed laws regulating the technologies in October. What’s unique about Malta’s laws are that they go beyond financial focused technologies and have a broad ambit while dealing with ICOs, cryptocurrency exchanges, and digital currencies.
Malta’s comprehensive laws
The first law is the Malta Digital Innovation Authority Act (MDIA). The MDIA establishes the Malta Digital Innovation Authority while also certifying the DLT platforms. The focus of this law is on internal governance arrangements and it outlines the duties and the responsibilities of the authority that will certify distributed ledger platforms. The goal of setting up the MDIA is to provide legal certainty and to improve the credibility of the operators who use the platform.

The second law, the Innovative Technology Arrangement Services Act (ITAS Act) involves the arrangement of DLT platforms and the certification of the platforms. The bill regulates cryptocurrency exchanges and other operators in the cryptocurrency market.

The third law, Virtual Financial Assets Act (VFA Act) regulates ICOs, cryptocurrency exchanges, and wallet services providers, among others. The law went into effect in October last year. It gave companies registered in Malta that seek to launch ICOs six months to comply with the laws. The government also gave cryptocurrency exchanges one year to comply with the law.

But does Malta as a destination for blockchain startups have a value proposition other than the regulatory environment? The government of Malta says that the Island nation’s overall value proposition is underpinned by a number of critical pull factors. In addition to the bespoke regulatory authority, MDIA, for distributed ledger platforms, the Malta Financial Services Authority also has a reputation for being meticulous and business-friendly.

In addition, Malta has a highly developed operational infrastructure to support innovative businesses highlighted by the presence of professional legal firms as well as a strong cluster of the top four and medium tier audit firms.

Malta’s Junior Minister for Financial Services, Digital Economy, and Innovation within the Office of the Prime Minister of Malta, Silvio Schembri, told International Finance: “Malta enjoys a highly stable political and economic environment. The sustained growth of the blockchain industry is being supported by investments in innovation that are planned for this sector just like those for the AI industry.  Our strong ICT infrastructure, which is 5G ready, ever-growing gaming industry, and strong financial services sector, a tech-savvy population – the huge human capital that lies in our talent base –  and our drive to be innovative act as solid foundations to deepen Malta’s first-mover advantage in the Blockchain sphere.”

Moreover, With the publication of the government consultation paper on the establishment of the Malta Digital Innovation Authority, the framework for the certification of distributed ledger technology platforms and related service providers and a Virtual Currency Act, Malta has made great strides towards making the country a leader in DLT regulation. “The three acts that are now in effect – the Virtual Financial Assets Act; the Malta Digital Innovation Authority Act and the Innovative Technology Arrangements and Services Act providing a holistic regulatory framework,” Schembri added. Malta did not stop there, and after a public consultation, the Malta Financial Services Authority published its fintech strategy based on six pillars: regulations, ecosystem, architecture, international links, knowledge, and security.

“The two elements of this strategy which appear to be most anticipated by stakeholders are the setting up of a regulatory sandbox, under pillar 1, and the establishment of an innovation hub, under pillar 3. The authority plans to issue a consultation document on each of the six pillars of the strategy, with that on pillar 1 expected to be published in the coming weeks,” Schmebri told International Finance.

Exante, a financial and technological company created by professional traders, with ten offices in Europe and Asia and more than 300 employees, is one of the innovative blockchain companies using Malta as a base. It claims to provide the greatest number of markets among brokers in Europe, and describes itself as the only one to offer cryptocurrencies since 2012.

With regard to Malta’ s advantages as a blockchain hub, Patrick O’Brien, Exante’s spokesman, told International Finance: “Malta’s advantageous geographical location, being within three hours direct flight from other European financial centres was partly the reason behind Exante’s choice to move to Malta. With an accessible, respected, and forward-looking regulator, we believe that the Island’s stable political arena was a perfect choice. Malta’s banking sector, composed of a combination of solid and reliable Maltese banks and major international banks, played a role in addition to the forward-thinking ability of our government in the blockchain and crypto space.”

Exante, on the whole, encourages blockchain-initiatives made by the government in Malta and is actively involved in their implementation. Having established a highly-profitable hedge-fund bitcoin fund a few years ago while closely cooperating with many bitcoin exchanges, the founders of the company have amassed a wealth of experience in this technology.  Exante shares its experience for carrying out other projects aimed at developing not only blockchain in Malta but other crypto technologies as well.  

Ana Bencic, the founder, and CEO of another blockchain startup based in Malta, NextHash, also speaks highly about the close interaction between blockchain entrepreneurs and the regulators in Malta. “Malta has already built up a sizeable crypto community that is bringing awareness about its blockchain prowess to the rest of the world.

Not only today but even more in the future, the entrepreneurial world will not be limited by jurisdiction but by the availability of a digital community and infrastructure. In Malta the blockchain community itself is very strong and, considering the size of the country, you can smoothly communicate with the regulator and your peers,” Bencic told International Finance.

NextHash, which trades under the brand Nexinter, is a digital asset platform. Nexinter is currently operating as a regulated crypto exchange in the European Union using Estonian licenses and the Maltese MFSA notification.  With regard to Malta’s approach to technology innovation, Bencic told International Finance, “Malta is keen to explore new evolving technologies and to deeply understand whether they will bring true innovation and sustainable growth. This is indeed an attractive environment for startups because of its agility and the infinite possibilities to extend their reach as well as the ability to comply with regulatory frameworks without major headaches.”

Challenges of scale
What are the challenges that Malta can face as it tries to position itself as a blockchain innovation hub? With Malta’s limited population and size, how will companies scale smoothly after a point?
“Malta has been one of the first jurisdictions to identify the opportunities associated with this new sector and has spearheaded the way in adopting a regulatory framework.   

Although the government has pitched the country as ‘Blockchain Island’, the challenges which lie ahead will be in retaining strong industry players who have or intend to relocate to Malta for purposes of making use of Malta’s regulatory framework,” says Exante’s O’Brien. Another question that arises is whether the Maltese immigration system will be flexible to allow growing companies to meet their talent needs by enabling smooth movement of talent from outside Malta.   The strong economic growth that Malta is currently experiencing has had a significant impact in reducing the level of unemployment in Malta and consequently the availability of labour.

 “Over these last few years, the economy has experienced an influx of foreign workers to support the growth in the various sectors of the economy including those in the blockchain space and related areas.  As a result, the government has reviewed the process to allow non-Europeans to work in Malta to improve the efficiency with which such applications are duly processed to ensure that these meet the requirements of the industry’” says Minister Schembri. 

Malta’s main aim with regard to talent is to attract the best talent from abroad while supporting its local talent resources and industries. “Since blockchain is a new industry, not just for us but for the world itself, bigger countries that are now looking at what Malta’s DLT legislation as a blueprint. As a government, we immediately sought to take the necessary actions to strengthen the existing skills and prepare future generations to pursue a career in this new emergent industry. In fact, very recently, 19 students were awarded scholarship grants to pursue their Master’s degree in DLT.

This was done through an investment of €160,000 and it is interesting to note that the background of these students is in diverse areas such as law, finance, business and management. Through this master’s programme we sought to fuse ‘stand-alone’ professions with a new emergent industry, an approach which is likely to mould such sectors as we know today,” added Schembri.

Yet another challenge that companies in the blockchain field faced in Malta according to a Times of Malta report in March was the resistance on part of banks with regard to opening accounts for crypto and blockchain companies. The paper reported that banks were declining these companies requests to open accounts claiming that such accounts were outside their ‘risk apetite’.

The companies, on the other hand, were complaining that the banks were not differentiating between cryptocurrency and blockchain even though the two were not always linked. With regard to the reluctance of banks to open accounts for crypto and blockchain companies, NextHash’s Bencic said, “This is indeed one of the problems that the industry is facing as a whole. It is still an overall problem to open a bank account in Malta for crypto-related companies.

Nevertheless, we deeply understand the challenge that banks are facing and we can disclose that we managed to obtain an account with the help of our policies and infrastructure. We still believe there is are some gaps between the regulator and the banks in Malta, as also elsewhere in EU and around the world. Nevertheless, we are confident that such gaps will shrink over time and Malta will be playing a leading role to make it possible.”

The Maltese government got itself involved to resolve the issue with Minister Schembri himself holding talks with banks and their stakeholders for a better understanding of the industry. The Malta Financial Services Authority (MFSA) and the Financial Intelligence Analysis Unit (FIAU) then jointly published a consultation document to provide guidance for credit institutions, payment providers and electronic money institutions that have the capacity to open accounts for entities using financial technology, according to the Malta Business Observer.

Malta’s government did not put a number on the blockchain investments that Malta has attracted. However, the government highlighted the fact that under the VFA Framework, the MFSA has registered 13 VFA agents and the authority has received notifications from a number of entities who are operating under the transitory provisions. The MDIA also approved three systems auditors for DLT projects. The government considers this an important milestone since VFA Agents and systems auditors will both assist authorities throughout the supervision and licensing process. It believes that this will ensure market stability, integrity, and consumer protection.

Packed summits
Blockchain conferences organised in Malta are well attended by industry delegates from all over the world. “It is interesting to note the level of participation in recent blockchain themed conferences in Malta. These conferences attracted more than 5000 delegates putting Malta as an attractive jurisdiction to a substantial number of operators in this space,” says Minister Schembri, highlighting the global interest in the Maltese blockchain sector.

Eman Pulis organises the Malta AI and Blockchain Summit, a successful forum that highlights Malta’s blockchain value proposition to the global technology community.

“The Maltese Islands have a lot to offer, particularly in terms of their location – such a central position makes us an ideal point of connection between markets in Africa and Europe. We also have other advantages, such as an English-speaking population and a favourable climate, with plenty of leisure opportunities, making Malta a great place to relocate to,” Pulis told the International Finance.

Besides providing companies and executives opportunities to network and do business in Malta, The Malta Blockchain Summit also works closely with initiatives such as Malta Enterprise. In November, the Malta AI and Blockchain Summit will also be launching Malta Week, which offers not one, but two shows. “We are inviting investors to come and explore what Malta has to offer in this show-packed week – and the synergy between the Malta AI and Blockchain Summit and the Medical Cannabiz Summit make it an excellent chance for a conversation on the myriad investment opportunities to be found when blockchain and medical cannabis cross paths,” added Pulis.

So how does the government visualise Malta’s blockchain sector’s growth in the coming years?
The government believes that the onset of the new legal and regulatory framework has established very strong foundations for the sector making its future bright.

 It says the plans for a regulatory sandbox, the development of a high-end incubation centre, and equally, the plans to attract venture capitalists and accelerators will further strengthen the development of the industry in Malta. In addition, the government believes these developments will strengthen the overall ecosystem and attract the service clusters that are an integral part of a development strategy set for this sector.

“We are on the right path and should continue to gain a strategic competitive advantage in the global economy as leaders in the field while attracting investments and positioning the country as a hub for the application of emerging technologies and their development,” said Minister Schembri.

Malta’ success in drawing further blockchain investments partly depends on how its competitors – both far and near – fare, especially with regard to the regulatory environment they offer. NextHash’s Bencic is optimistic that regulators will progressively better regulate the crypto sector. She also believes that going forward, regulations will be progressively harder and licences will become harder to obtain for new entrants.

“We are also curious and eager to observe how the current exchanges will adapt and survive in a progressive regulatory environment. Nevertheless, it is key not to mistake blockchain technology for crypto companies, where blockchain tech is the underlining technology behind the cryptocurrencies. We believe that companies developing just the blockchain technology and not dealing with financial instruments should be considered and regulated as regular technology companies.”

Exante’s O’Brien is of the opinion that blockchain’s future is bright in the sense that in the same manner in which email became a ‘killer app’ for the internet, identity solutions will be a ‘killer app’ for blockchain. “While many would still argue the applicability of Blockchain on a global level, they cannot ignore the paradigm shift felt throughout the world. In 2018 alone, more than € 2.1 billion was spent on blockchain implementation globally.

The cascading effect increased investment in ICOs by sixteen-fold and more than a dozen countries are officially developing their own cryptocurrency,” he says. Nevertheless, he sees the Asean nations as potential trailblazers in the global blockchain sweepstakes because of their tech-savvy populations and the obvious demographic dividend they enjoy. “While the decentralisation movement largely began in the West, it has certainly made its way East, as jurisdictions in the region have come to shape global conversations and developments across the wider industry. 

One of the primary reasons the Asia-Pacific region looks poised to be a trailblazer in blockchain is its consumer market. Not only is it big – the size of Asia’s middle class is expected to reach 3.5 billion by 2030 – but it is especially eager to embrace new technologies. The region’s enthusiasm for cutting-edge technologies can be attributed to its uniquely young, technology-curious population,” added O’Brien. But as of now, Malta is enjoying its moment under the Mediterranean sun as the world’s first ‘blockchain Island’.

The post How Malta became the blockchain island appeared first on International Finance.

March 14, 2017: VistaJet, the first and only global aviation company, announced that it has safely performed over 100,000 flights in its history, recording significant growth as corporations and UHNWIs continue using business jets to travel the world.

In the first nine months of 2016, 7.7% fewer new aircraft were delivered year-on-year. At the same time, VistaJet took on 15 brand new business jets in 2016 to meet increasing demand, equaling 26% fleet growth. The company has now connected 250,000 passengers to over 1,600 airports in 187 countries.

The company forecasts this growth to continue as a rising number of millennials enter the business aviation market and look to participate in the shared economy trend rather than own a depreciating asset.

Among its new customers were principals as young as 25, and major technology companies purchasing 400+ flight hours for their executives to fly worldwide. The firm reports that 40% of its new business in 2016 came from customers moving away from fractional or full aircraft ownership in favour of anytime access to its global fleet.

VistaJet Program customers accounted for the majority of the company’s business in 2016. The VistaJet Program is a bespoke solution aimed at individuals and corporations flying between 50 and 1,000+ hours per year, offering guaranteed access anytime and anywhere to a global fleet of silver and red branded aircraft.

As part of its 71 business jets, VistaJet now also counts the largest privately owned Global 6000 and Challenger 350 fleet in the industry. In 2016, the company moved its global headquarters to growing European business hub, Malta, whilst expanding its offices in key cities such as Los Angeles, New York City, Hong Kong, Seoul and Lisbon.

Chairman and Founder Thomas Flohr said, “What we’re seeing is that due to broader uncertainty and changing attitudes to ownership, while entrepreneurs and corporations want the flexibility and convenience of using a business aircraft, they don’t want the asset risk or the up-front costs. Celebrating our 100,000th flight is a real indication that customers have found the answers they are looking for in our business model. We have invested in our fleet, our people, and our global infrastructure, to offer an unmatched service. We pride ourselves on providing the support and resources companies need to do business. Whether that is organising complex trips to multiple, remote destinations or arranging for meetings to take place in-flight, regardless of where in the world they are, we are there for our customers when they need us.”

The post VistaJet completes 100,000th flight as whole and fractional aircraft purchases decline appeared first on International Finance.

The report followed a 10-day mission in December 2016 to Malta during which the state of Malta’s economy was evaluated in depth.

Looking ahead, the key policy challenge is to sustain the high growth and make it more inclusive in an increasingly uncertain external environment. Efforts should therefore focus on further enhancing the economy’s resilience to shocks, and addressing the remaining structural impediments:

• Robust economic activity is projected to continue, albeit at a more moderate pace
• External downside risks predominate
• Fiscal consolidation is expected in the near term
• Well-specified measures should underpin the medium-term consolidation plan
• Improving the financial health of state-owned enterprises would reduce fiscal risks
• Long-term spending pressures should be contained
• Safeguarding financial stability and improving access to finance
• The banking system appears sound and resilient, but faces a number of challenges.
• The resilience of the private sector needs to be bolstered further 
• The planned Malta Development Bank (MDB) could support the economy but fiscal risks should be contained
• Ongoing vigilance is needed to contain risks to the integrity of the financial system.  Boosting productivity and making growth more inclusive
• Steady reform implementation will support high and inclusive long-term growth

In particular, sustained efforts are needed to:

• Increase the labour force participation. Recent measures supporting female labour force participation continue to bear fruit. Further actions are needed to integrate the remaining inactive population, particularly women, into the labour market. Expanding labour activation policies, and enhancing education quality in line with the recently completed in-depth review, would reduce skill mismatch in the face of the changing labour demand. Further incentivising delayed retirement would boost labour force participation among the elderly.
• Enhance SMEs’ innovation. Higher R&D activity would boost productivity growth and competitiveness. Strengthening firms’ balance sheets and broadening SMEs’ non-bank and equity financing would alleviate financing constraints, including for innovative projects. Increased public R&D spending as a share of GDP towards the EU average, close partnerships with education institutions and improved access to foreign markets would complement these efforts.
• Streamline the legal process. Recent measures to speed up the settlement of civil and commercial cases will strengthen the business environment. Completion of ongoing work to address the shortcomings of insolvency and bankruptcy frameworks would improve contract enforcement and allow a faster resolution of balance sheets problems.

The post ‘Malta’s growth has been exceptionally strong’ appeared first on International Finance.