BusinessToday Previous Editions

5 NEWS 21.9.2023 FinanceMalta hosts 16th annual conference WITH over 400 registered participants in attendance, FinanceMalta successful- ly held its 16th annual conference at the Hilton Conference Centre. emed 'Leading Change rough Innovation', the conference resonated deeply with the audience, which com- prised a broad representation of stake- holders in the local financial services sector and international professionals, including C-level and other executives, European Union policymakers, Maltese Government representatives, officials of global standard-setting organisa- tions, investors, innovators, as well as renowned academics and researchers. Minister for Finance and Employment Clyde Caruana and more than 40 lead- ing local and international experts ad- dressed the conference, discussing the most topical themes in a series panel sessions and fireside chats throughout the day. e event was chaired by tal- ent advisory specialist and FM Search founder Francina Moisa and was opened by FinanceMalta's Chairman George Vella. As he welcomed the delegates attend- ing the conference, Vella focused on sustainability, digitalisation and inter- nationalisation as the three main pillars for a successful strategy that takes the financial sector forward, underlining the commitment of FinanceMalta to support the industry in these areas. Caruana said that the financial servic- es sector can bring about the significant leap forward that is needed in Malta. He emphasised the government's in- tent to see through the implementation of the National Strategy for Financial Services that was launched by the Mal- ta Financial Services Advisory Council (MFSAC) in March 2023 and said that specific deliverables in this regard will be mentioned in the upcoming budget. e conference kicked off with a dis- cussion on the crucial role played by the financial services industry to help the rechannelling of capital flows towards green projects in order to facilitate the attainment of ESG goals and Net Zero targets. e discussion brought into perspec- tive the progress being registered at local level as a result of the concerted effort of both private enterprises and regulators. is was followed by the sharing of in- sights into the market for green bonds and the first green bond that started trading on the Malta Stock Exchange. e green agenda in financial services was further explored in a discussion on the blue economy which also presents Maltese investors with opportunities for international cooperation. e conference also discussed the piv- otal role of FinTech as a main driver of innovation. In this regard, the delegates were briefed about the study being con- ducted by Mastercard in collaboration with FinanceMalta. e significant and multifaceted role of Artificial Intelligence (AI) in financial services, transforming how the industry operates and serves its customers, was the subject of a panel session that fol- lowed. Delving further into the path forward in the financial services sector, the con- ference explored the role of the World Alliance of International Financial Centers (WAIFC), of which Finance- Malta became a full member in Octo- ber 2022, in promoting financial centres through the continuous collaboration and sharing of knowledge at interna- tional level. FinanceMalta is actively contributing to this dialogue, continuing to increase Malta's exposure internationally and reaffirm the country as an innovator in financial services. Attention was also directed to the tax component in financial services during a discussion on the modernisation of Malta's taxation system, to ensure that taxation fits in with the profile of the ju- risdiction while boosting its reputation and enhancing its efficiency. e productive discussion on the sec- tor's future prospects was later facilitat- ed through an overview of the common elements in the strategic trajectory of Malta's thriving aviation, maritime and financial services industries. e Malta Financial Services Adviso- ry Council (MFSAC) chairman Joseph Zammit Tabona shared with the confer- ence a detailed account of the progress resistered in the implementation of e National Strategy for Financial Services since its launch in March. He explained that intensive efforts are being undertaken by a number of work- ing groups that have increased from nine to fourteen. A draft master plan is currently being drawn up to identify the initiatives that would be implemented by December 2024. He also spoke about the impor- tant contribution of Malta's regulators who have taken the strategy on board. e session on the National Strate- gy for Financial Services also included contributions from Kenneth Farrugia, CEO of the Malta Financial Services Authority, and Geraldine Spiteri Lucas, CEO of the Malta Business Registry. e event was supported by 20 spon- sors, including Moneybase (Diamond Sponsor), Mastercard, Bank of Valletta, the Malta Stock Exchange and System- ic. e Expo Hall hosted 14 local and in- ternational exhibitors thatwhich show- cased their products during the event. e annual conference featured dis- tinguished international speakers in- cluding, amongst others, Senior Euro- pean Investment Bank (EIB) Official to the Union for the Mediterranean (UFM) for Sustainable Finance and In- vestments Andrea Tinagli; World Alli- ance of International Financial Centers (WAIFC) Managing Director Jochen Biedermann; AI governance, fintech, and digital transformation expert, and bestselling author, Clara Durodié; and Mastercard Advisors Cluster Lead for Greece, Cyprus and Malta, Akis Tsek- ouras. JOEM TRADING LTD has been se- lected as the authorised distributor of ELF lubricants in Malta and Gozo. Having established a long-term part- nership with To- talEnergies Mar- keting Hellas for the distribution of the TotalEnergies brand in Malta, Joem Trading has gone a step further, expanding its prod- uct portfolio with the ELF brand. Established in 1967, ELF has very strong brand awareness among auto- mobile experts. Buying an ELF prod- uct means having the assurance and reliability of an established brand. ELF's quality is based on long experi- ence in motorsports. ELF is primarily remembered for more than 150 victories in Formula 1. ELF products proved measurable benefits with re- gard to longevity and engine pro- tection. They are sold in 113 coun- tries, providing dedicated lines of lubricants for cars, motorcycles and heavy-duty vehicles. The distribution of this legendary brand is seen to boost new business and increase TotalEnergies and Joem's presence on a national level and en- hance the already wide product range to the market of Malta. Joem Trading Ltd appointed authorised distributor of ELF lubricants for Malta and Gozo

• Cover