New financial institution between Malta and Islamic nations

DOI - Reuben Piscopo

Tista' taqra bil- Malti.

The Malta Islamic Finance Association will serve as a bridge between various governments and institutions. Among other things, this association will create legislative amendments to allow Islamic financial institutions to benefit from cooperation between EU countries.

The launch was chaired by Parliamentary Secretary for Financial Services Silvio Schembri at the Cryptocurrency Consideration for Management conference, in which the Memorandum of Understanding was signed. Reuben Buttigieg was appointed President of the Malta Islamic Finance Association.

Silvio Schembri said the Government’s work in the field of virtual currency complements Islamic finance, and this sector will be explored in the coming months. He said that Malta can serve as a base in which Islamic finance could be incorporated and new technologies discovered in operation.