Since joining the EU, both Malta and Cyprus have seen a surge in their financial service industries, as they aim to establish themselves as recognised investment fund centres
Two years after joining the European Union, Malta is well ahead of the Republic of Cyprus in the race to build up thriving financial service industries. Both Mediterranean islands are looking to reform their domestic markets as well as develop their proposition as financial centres in a wider context. And, according to Michael Xuereb, director of business development at the Malta Financial Services Authority (MFSA), since Malta joined the EU the financial services industry has really started to develop. In the case of Malta, the Central Bank is forecasting GDP growth for 2006 to be 2....
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