Banks & Credit Institutions

Banks

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Banking services are defined primarily by the Banking Act (Chap 371 of the Laws of Malta) as:

• the acceptance of deposits of money from the public (whether as principal or agent) withdrawable or repayable on demand or after a fixed period, or

• borrowing or raising money from the public for the purpose of employing all or part of such money by lending to others or investing such money at its own risk.

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Credit Institutions

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The business activities of a credit institution may, besides the business of banking, include any or all of the following additional activities, subject to the approval of the MFSA:

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• Financial leasing

• Payment Services

• Issuing and administering other means of payment (travellers’ cheques, bankers’ drafts and similar instruments)

• Guarantees and commitments

• Trading for own account or for account of customers in:

  • Money market instruments (cheques, bills, certificates of deposit, and similar instruments)

  • Foreign exchange

  • Financial futures and options

  • Exchange and interest-rate instruments

  • Transferable securities

  • Participation in securities issues and the provision of services related to such issues

• Advice to undertakings on capital structure, industrial strategy and related questions and advice as well as services relating to mergers and the purchase of undertakings

• Money broking

• Portfolio management and advice

• Safekeeping and administration of securities

• Credit reference services

• Safe custody services

• Issuing electronic money.

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