The risk-based approach adopted by banks towards trusts and
foundations was discussed in detail during FinanceMalta's first
webinar of 2021, attended by over 200 participants.
"Banks in Malta: Dealing with Trusts and Foundations"
was the theme of the event aimed primarily at legal and compliance
officers working with banks in Malta. The objective of the event
was to provide a better understanding of these structured entities,
how they are regulated and accepted by banks as their
customers.
The need for the webinar was brought up during the meetings of
the Banking Committee, an initiative spearheaded by FinanceMalta in
2020 to address the issues experienced by financial services
practitioners when liaising with banks in Malta. The Banking
Committee comprises all stakeholders including the Malta
Bankers' Association (MBA), the Malta Financial Services
Authority (MFSA), the Financial Intelligence Analysis Unit (FIAU),
the Institute of Financial Services Practitioners
