On 20 September 2012, David Zahra, partner at Camilleri de Marco & Zahra Advocates, participated in a panel discussion on Shariah-compliant UCITS funds at an Educational Clinic on Islamic Funds organised by FinanceMalta in collaboration with the Malta Institute of Management. The Educational Clinic was held at the Malta Stock Exchange building in Valletta, Malta....
Following Moody’s affirmation of Malta’s A3 government bond rating, international credit rating Fitch has confirmed Malta’s rating at A+. Fitch described Malta’s outlook as stable. In its reaction, the Government said that this confirmed Malta’s achievements in reaching its financial targets and is an important message of stability for investors and for those looking at...
The Lotteries and Gaming Authority (LGA) has entered into a Memorandum of Understanding (MoU) on bilateral cooperation with the Jersey Gambling Commission. The MoU covers a broad and comprehensive range of topics. The LGA and the Jersey Gambling Commission aim to develop common responsible gaming measures, enhance consumer and player protection measures, draw up common...
Malta’s insurance sector has experienced significant growth over the past four years. The Minister of Finance, the Economy and Investment, Tonio Fenech, said that over a 1,000 people are today employed in the insurance sector. Since 2008, no less than 28 new licenses in this sector were issued by the Malta Financial Services Authority, taking...
There are 440 remote gaming licenses in Malta, and applications in 2011 amounted to over 100, the Minister of Finance, the Economy and Investment said when opening the 4th annual edition of the Malta iGaming Seminar organized by the Maltese Remote Gaming Industry on Tuesday, 11September 2012. Malta is considered, the Minister said, to be “one...
According to the annual Competitiveness Report, published by the World Economic Forum, Malta has climbed four places up to 47th in the Global Competitiveness Index. The report support Malta’s efforts to attract more foreign direct investment, which is a crucial driver of economic growth and job creation. The report highlighted the fact that the Maltese educational...
In a statement released by the rating agency on 5 September 2012, Moody’s Investors Service confirmed Malta’s A3 government bond rating. While the outlook remains negative, Moody’s said that the key drivers for the affirmation were the Maltese government’s successful consolidation strategy, which brought the 2011 fiscal imbalance below the 3% of GDP ceiling under...
On 25 July 2012, the Inland Revenue Department (Malta) published the Guidelines on the Malta tax treatment of Retirement Benefits arising from Retirement Funds or Schemes. The guidelines apply to any benefit derived from a QROPS (Qualifying Recognised Overseas Pension Schemes) in Malta. They apply from 1 January 2012 onwards and are intended to provide guidance...
Further to its signature in August 2011, the double taxation agreement between Switzerland and Malta entered into force on the same day as the diplomatic exchange of notes on 6 July 2012. The benefits of the Treaty are effective as from 1 January 2013. Aside from wide ranging provisions on the exchange of information between...
The January-March 2012 edition of the Rivista Amministrativa degli Appalti features an article co-authored by Anjelica Camilleri de Marco, partner at Camilleri de Marco & Zahra Advocates, and Avv. Stefano Gattamelata, a lawyer in the Corte di Cassazione in Rome and Adjunct Professor of Administrative Justice at the Università di Teramo. The article entitled Una finestra su Malta:...
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