The departure of licensed firms leaving Malta continues. This time around, NBG Bank Malta is surrendering its Malta investments services license. NBG, short for National Bank of Greece, was set up in Malta in 2006. In June 2021, Malta was grey-listed by the Financial Action Task Force (FATC). This has resulted in more than 100 licensed firms surrendering their license over the past months. Licenses are issued by MFSA. The regulator has been harshly criticized over the past years for lack of action against money laundering and structural corruption.
The Authority and its officials, such as Christopher Buttigieg, have also been sued by license holders such as Lifestar. MFSA hit rock bottom when it failed to take the necessary action in high-profile cases.
The directors of NBG Bank Malta (www.nbg.com.mt), which also holds a banking license, include
- Georgios Agioutantis (CEO)
- Anastasios Lizos (Non Executive Director)
- Thomas Zampopoulos (Independent Board Member) and
- Dorothy Kim Vella (Independent Board Member)
The Maltese company is owned by the National Bank of Greece, with its headquarters in Athens.
The MFSA’s executive board includes Edwina Licari and Michelle Mizzi Buontempo. Shocking revelations made the headlines in recent years.
