Malta’s grey listing by the Financial Action Task Force has been on the lips of many since the news broke yesterday.
Weighing in on the issue and what it means for the country, People and Business Consultant Justin Paul Anastasi took to social media to appeal for collective action, condemning the further politicization of the issue.
“Our country now needs to look within itself, putting integrity, good governance and our national interest first,” he writes, affirming that Malta’s success now hinges on “our capacity to work together as one country and one nation who can truly put our people, our children and our children’s children ahead of selfish gains.”
Acknowledging that there will be added difficulties surrounding banking and finance for business owners on the island in the immediate term, he goes on to draw attention to Malta’s positive Moneyval assessment, obtained a few short weeks ago, as a sign that “the country was moving forward but clearly not fast enough.”
Looking to the future and what needs to be done, Mr Anastasi continues, “our country now requires an empowered, well equipped and highly specialised team able to devise a comprehensive action plan to rapidly put into effect all recommendations whilst liaising with all sectors and key stake holders so as to turn this around.”
Despite this, he asserts that he has “every confidence” Malta will pull through – yet warns that the grey listing should be taken as a clear warning. “Our country, it’s economy and its reputation are on the brink of a calamity,” he affirms, in no uncertain terms. “Our nation and its people must come first. Always.”
Justin Paul Anastasi / LinkedIn
He takes over from Alejandro Gosttuski, who will now take on the role of an Advisor.
The company, set to launch soon, will seek to provide clients with ‘customer-centric and innovative’ financial services.
The Malta Stock Exchange recently joined other exchanges for the inaugural Ring the Bell for Climate initiative.
Family businesses account for more than 70% of Malta’s SMEs, and are hence vital components of the local economy.