There is a range of banks in Malta laws and regulations that have been implemented over the years to prevent financial crises and encourage economic growth in Malta. The Malta banking system is regulated by the Malta Financial Services Authority (MFSA). This agency is responsible for supervising the activities of investment service providers, banks, credit and financial institutions, stock brokers, insurance companies and securities firms.

While the Malta banking system has expanded, it’s still not as modern as other parts of the world. The currency of choice in Malta is the euro, which was adopted in 2008. To learn more about banks in Malta laws and regulations, you should:

1. Obtain information about the Malta Financial Services Authority.

2. Find out about other Malta banking regulatory agencies.

3. Consult with Malta banking professionals.

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Learn more about the Malta banking primary regulatory authority

The MFSA regulates the Malta banking system and has implemented various laws and regulations to ensure conomic growth in the country. This agency is responsible for supervising the activities of investment service providers, banks, credit and financial institutions, stock brokers, insurance companies and securities firms. The MFSA also regulates the implementation, registration and marketing of hedge funds and professional investor funds. This agency is responsible for overseeing and monitoring all credit, investment, trust and insurance activities of commercial banks in Malta. The MFSA tracks international information on banks in Malta laws and regulations. In the past, the MFSA was an offshore jurisdiction. However, over the past 10 years, the MFSA has become an onshore jurisdiction authority.

I recommend: Learn more about Malta national bank regulation by checking out The Times of Malta. Read more about the MFSA at Rizzo, Farrugia & Co.

Find out more about business banking in Malta

Small, medium and large companies can conduct a range of transactions with Malta banks. Banks in Malta offer a range of local and online banking services to help companies start new ventures, manage their corporate finances, expand their businesses and achieve a range of other goals. The Central Bank of Malta keeps the Malta banking system stable by implementing policies and procedures to promote a financially sound banking system, assist with the circulation of euro currency, and advise the Government on banking issues.

I recommend: Read about Malta banking by checking out the Central Bank of Malta. Learn more about business banking services in Malta by checking out HSBC, the largest global bank in Malta.

Seek professional advice on banking in Malta

Consulting banking professionals who are experienced in Malta banking laws can help you to gain a better understanding on regulatory and operational laws regarding Malta banks and Internet banking in Malta.

I recommend: Check out Chetcuti Cauchi Advocates to find out more about Malta banking laws. Check out a listing of the various Malta banking laws by checking out Lexadin.

The growing global marketplace requires expanding businesses to deal with foreign banks in Malta. Commercial banks in Malta offer business owners the security of working with both local Malta banks and banks with familiar names.

Malta banking institutions provide clients with the ease of working with their US based banks. US based banks in Malta, as well as other global banks in Malta, give customers working internationally peace of mind.

International banking in Malta helps business owners expand easily to this growing global marketplace. Malta banks get commercial customers the products they need to establish successful businesses or expand global franchises to the Malta economy. Work with banks in Malta to:

1. Invest in the growing Malta economy through Malta banking institutions.

2. Understand the culture and climate of doing business in Malta.

3. Strengthen your business presence through business banking in Malta.

4. Establish your business as a competitor in the global marketplace.

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Find a bank in Malta that has a trusted reputation in the global marketplace

Using a bank you know and trust helps get your business in Malta up and running smoothly and efficiently. Having ready access to bank accounts through ATMs and multiple locations gives you peace of mind that your finances and business transactions are secure.

I recommend: The Central Bank of Malta establishes monetary policy for the country, and is a good place to learn more about banking in Malta. Chetcuti Cauci Advocates offers an online primer for offshore companies banking in Malta. APS Bank has many convenient locations throughout the island.

Use local commercial banking in Malta as a resource for community involvement

Working with a local Malta bank helps establish your business as a contributor to the local economy. A good relationship with a Malta banking institution gets you recognized as a trusted partner in progress in your business location.

I recommend: The Bank of Valetta, headquartered in Valetta, and FIMBank of Sliema provide a full range of business banking and investment services.

Compare banks in Malta based on products offered and types of service

Each bank in Malta has something different to offer clients. Look for banks with a variety of savings and investment tools without excessive costs. In addition, look for banks with that specialize in helping business owners.

I recommend: Check out HSBC Malta, part of the global HSBC network, for a variety of banking options and services. Lombard Bank also offers business products and services throughout Malta.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Do your homework about the culture in Malta before beginning a relationship with a local bank in Malta. Finding out what you need to know about etiquette and customs help keep you from offending anyone before ever getting started.
• •  Make sure when banking in Malta you have a well-qualified translator or someone in your financial institution that can help you with language barriers. Maltese and English are the official languages of Malta, but having someone to help with dialects and vocabulary is a good idea.

The banking structure in Malta is not unlike many other countries in the region or the world. First, you have a central bank that helps manage the banking industry as most countries do. You also have regulatory agencies that monitor the banking system. Where the banking system in Malta differs is in the names and functions of these institutions, the stability of its banking structure and the financing option available in the country. These differences aren't minor and you need to research the banks in Malta prior to any transaction. An excellent place to begin this research is with the banks in Malta key terms.

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Central Bank of Malta

The Central Bank of Malta is the bank to most financial institutions in Malta and the government itself. The Central Bank of Malta also has the responsibility to maintain price and banking stability. It accomplishes this mainly through monetary policy in accordance with its stated mission.

I recommend: Examine the goals and responsibilities of the Central Bank of Malta.

Financial Institutions Act

The Financial Institutions Act is legislation that revamped the banking and financial services industry in Malta. There have been additions to the regulations over the years but this legislation remains a key legal component in the regulation of the banking industry.

I recommend: Review the Financial Institutions Act primer available at CC Advocates.

Malta Financial Services Authority

The Malta Financial Services Authority is the governmental agency responsible for the enforcement of the banking laws in Malta. If you ever have any regulatory issues or complaints, this is the entity in Malta to contact.

I recommend: Study the Malta Financial Services Authority summation for further details on the term.

HSBC Malta

HSBC Malta is one of the largest international banking institutions operating in the country. If you're new to the country's banking system, an international firm may be the best option. HSBC has offices in the United States, making banking much more convenient and simpler.

I recommend: Evaluate the commercial business banking opportunities at HSBC Malta for more information.

First International Merchant Bank

First International Merchant Bank is one of the largest banks with its headquarters in the country. The First International Merchant Bank is an excellent source for local banking practices and regulations.

I recommend: Assess the scope and vision of the First International Merchant Bank.

Banks in Malta are considered some of the most financially sound in the European-African region. Malta banking technology is very much the same as the US in terms of networks, ATMs, debit/credit cards, online banking and other technologies.

Malta is a member of the European Union and its banking laws and regulations are in accordance with EU directives. Malta's currency is based on the Euro. It also is home to a number of bank Malta offshore institutions. Malta is multi-lingual and English is spoken in most banks.

1. Malta is considered a tax haven due to its low taxes, but unlike other tax havens it has entered into at least 55 double tax treaties with other countries.

2. Online banks in Malta are plentiful, especially for offshore banking.

3. Malta's banking system consists of the Central Bank of Malta and two large commercial banks with a number of smaller banks and other financial institutions.

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Find out how to open a bank account with banks in Malta

Business and individual bank accounts are relatively easy to open with Malta banks. An account can be opened with any currency. A passport is necessary to open an individual account, while more documentation is required to open a business account.

I recommend: HSBC, one of the big commercial banks in Malta, provides business and individual accounts for non-residents. Chetcuti Cauchi Advocates, an intermediary service for foreign investors starting a business in Malta, gives added details as to the ease of business banking in Malta.

Get investor ratings on Malta banks

As with a lot of banks right now, the ratings of Malta banks are important to keep up with. Perhaps, more importantly, you will want to know if a bank's outlook is stable or positive: this is what ratings services can tell you.

I recommend: Moody's Investor Services is one of the most often used ratings guides in the US. Registration is free and each month it publishes an updated list of major banks and their ratings. Here, Moody rates the Bank of Valletta "stable." Fitch Ratings is another ratings source--registration is free for basic information such as the status of the Maltese bank, FIMBank (rated positive). New Europe reports Malta banks are ranked the 10th soundest in the world.

Look for advice on banking in Malta

Banks in Malta advice and ratings from Maltese authorities is another place to look. Maltese authorities perform oversight and offer practical advice for banking in Malta. Newspapers are another source for banking advice, especially with the volatile economy.

I recommend: Malta Financial Services Authority is kind of a watch dog of Malta banking. Here you will find warnings about banking solvency or criminal activity such as money laundering--as well as information on how to file a complaint (if you should find it necessary) against a bank. Times of Malta provides advice on the overall economic conditions, and health of the banking system, via its news articles.