FinanceMalta showcases Malta in worlds’ financial centre

FinanceMalta, the public-private partnership set up to promote Malta's financial services sector, are showcasing Malta's European Financial Centre (EFC) throughout March in the heart of London, the world's finance capital, as part of Malta's 70th anniversary as a George Cross Island at the famous Harrods department store.

Malta's High Commissioner, Joseph Zammit Tabona, the former Chairman of FinanceMalta said: "It is such a pleasure to see an idea I have been working hard on since November 2010 finally come to fruition. I have always believed that showcasing Malta at the world-famous Harrods Department Store, is the ultimate in promoting our country in the United Kingdom."

London's largest industry is finance, and its financial exports make it a large contributor to the UK's balance of payments. Over 300,000 people are employed in financial services in London, with over 500 overseas banks, more than any other city in the world. The City of London is home to the Bank of England, London Stock Exchange, and Lloyd's of London insurance market. Another key strategic criteria for FinanceMalta to participate in this Malta showcase is that over half of the UK's top 100 listed companies (the FTSE 100) and over 100 of Europe's 500 largest companies have their headquarters in central London.

London is an established leader trading in Eurobonds, foreign exchange, energy futures and global insurance. The Alternative Investment Market, a market for trades in equities of smaller firms, is a recent development. London is the world's greatest foreign exchange market, with much of the trade conducted in the City of London. Of the $3.98 trillion daily global turnover, trading in London accounts for around 35% of the total.

FinanceMalta and its members are now in a position to outreach to this important international market for the jurisdiction.
Harrods in Knightsbridge lies in one of Europe's busiest shopping areas. Harrods represents one of the most prestigious names in shopping history, in the iconic seven-story, 111,000-square-metre building, featuring 330 departments; Harrods has a long-established reputation for selling "all things, for all people, everywhere." The Knightsbridge store remains one of London's biggest tourist attractions, receiving as many as 300,000 visitors per day.

"Harrods is delighted to be hosting such an inventive, exciting and visually appealing promotion. Being a luxury institution, Harrods is an excellent platform to showcase the diversity of what Malta has to offer to desirable, elite and often hard to reach customers from the UK and beyond," commented Guy Cheston, Harrods Director of Media Sales.
The financial services sector, one of the key pillars of the Maltese economy along with tourism, manufacturing and business services, provides over €1 billion of revenue to the economy.