On 11th of November, the Global Legal Entity Identifier Foundation (GLEIF) announced Sparkasse Bank Malta plc as the new Validation Agent within the Global Legal Entity Identifier (LEI) System.
The LEI is a 20-character, alpha-numeric, code that is necessary for legal entities that want to fulfill their regulatory obligations and participate in financial transactions and stock market investments. Therefore, entities holding investments in stock markets require an LEI to trade and have this renewed annually.
The LEI management service is a valuable addition to the bank’s current investment solutions.
In his comments, Sparkasse CEO and Managing Director Paul Mifsud said “it is a privilege to have been accepted as validation agent for LEI’s.”
“This service fits well with our philosophy to establish long-term relationships with our customers ensuring the provision of efficient and seamless financial solutions,” he added while stressing the fact that the bank recognises “the LEI’s value in creating the transparency that strengthens ties between organisations.”
“Our approval as a Validation Agent is a significant milestone,” Mr Mifsud affirmed and went on to say that “it enables us to streamline our approach to client lifecycle management, enhance our customer experience, and provide a uniquely powerful foundation to create new value-added services for our corporate clients."
Featured Image:
Paul Mifsud, Sparkasse Bank Malta plc CEO and Managing Director
‘Business must not become shorthand for questionable dealings’, says Quinco Holdings Executive Chairman
Norman Aquilina calls for a clear distinction between legitimate business and improper conduct.
Eurocargo Logistics integrated into Gollcher Group as Luke Vassallo takes on new role
Luke Vassallo joins Gollcher Group as Freight Manager.
Grant Thornton Managing Director says offshoring can help manage economic growth
George Vella says financial services sectors can grow without straining the infrastucture.
Ioannis Mavroudis Mavridis to serve as interim CFO at GO’s Cablenet
This announcement comes as Velisarios Masouras steps down from CFO in October.
