Banking in the Gozitan economy

Abstract

It is reckoned that Malta’s financial system is healthy, well supervised in the context of a comprehensive legal framework, and strongly compliant with most of the international standards and code. However, Maltese financial institutions are continuously facing challenges in our small and open economy. The economic vulnerability of small island states like the Maltese Islands arise from the fact that their economies are to a large extent, shaped by forces outside their control, mostly due to their economic openness and high dependence on a narrow range of exported products. This means that their financial development is likely to be dictated mostly by forces outside their control.