The Financial Services sector is a major contributor to the
Maltese Economy when all economic effects are taken into account.
In fact, the sector as a whole has been estimated to account for
11.2% of total Gross Value Added ('GVA') and 10.2% of
employment, ranking with the highest contributors of the Maltese
economy1. As innovation drives growth, the Malta
Financial Services Authority ('MFSA') has launched its
Fintech Regulatory Sandbox, which is an essential Research and
Development tool for testing innovative, technology-enabled
solutions, in a controlled environment.
The main scope of the Sandbox is to, inter alia, promote:
an increase in efficiency and user experience, a decrease in
cost, new business models, applications or products, identification
of any inherent regulatory gaps, challenges, and risks.
Applications may be submitted on an ongoing basis and the lifecycle
of the Sandbox consists of the following stages:
