The financial market of the Principality is stable considering the current mixed global economic environment. This was highlighted during the Conference of the Monegasque Association of Financial Activities. Monaco is a prominent place, with over one hundred banks and asset management companies.
During this conference the discussions were around the development and expansion of the Monegasque financial activities. Monaco is an attractive financial market place due to its moderate tax policies and high confidentiality of information. Monaco has managed to find a solution where they can maintain this, as well as contribute to the fight against money laundering activities.
Monaco is an example of stability in the international financial world, inspiring trust, and the rules and regulations are well adapted to a modern and international financial market.
7 management companies share the market of managing local funds, and 23 companies of which 4 of them are banks, manage foreign funds. They all remain as top performers in term of advice given to clients, due to their “savoir-faire” and competitivity.
Created under a Sovereign Order over half a century ago, the Association aims to be the professional body of the accredited institutions exercising a banking or financial activity in the Principality, to ensure representation of the market, especially with respect to public authorities, undertaking any action and play a leading role to promote the development of the Monaco Financial Market.
With nearly a hundred members, AMAF federates all the institutions of the market, has an ongoing dialogue with both the social partners and the main economic actors and is the preferred partner of Monegasque authorities for all that relates to the profession.
AMAF is thus at the heart of the action and reflections regarding the reforms necessary for the development of the financial center.
The resulting proposals and the ensuing dialogue between the government and the AMAF are the driving force of the device enabling the pursuit of excellence committed in recent years by the banking and financial sector of the Principality.