Moneyval recommendations will not affect honest business, PM pledges

Pierre Sammut

Tista' taqra bil- Malti.

Prime Minister Robert Abela pledged that the operation of honest and legitimate businesses would not be affected through the implementation of measures suggested by the Council of Europe’s anti-money laundering body Moneyval, ahead of a review in which Malta is believed to risk greylisting.

Abela made his pledge in a meeting with the Malta Chamber of SMEs, as part of the consultation process for the 2021 Budget, in which he insisted that the government’s approach towards the recommendations was a clinical one.

“We will not betray the trust enjoyed by our businesses and paralyse their operation. We made sure to retain a clear distinction between organised crime and the operations of legitimate and honest businesses,” Abela maintained.

He also pledged that his government would present the best budget possible, given the circumstances.

The meeting also touched upon Libya, with both the Prime Minister and Malta Chamber of SMEs president Paul Abela highlighting the country’s business potential. The chamber’s president emphasised that Maltese businesses did not simply wish to export in Libya, but also invest in the North African country.

The Prime Minister, on his part, emphasised Malta’s diplomatic efforts in favour of helping Libya recover. He insisted that the country presented a huge opportunity, and that the aim should be to transform it into a key trade partner for Malta and Europe alike.