Monaco For Finance magazine 2023/2024 is out
From left to right : Gérald Mathieu, Etienne Franzi and Frédéric Genta - All rights reserved
The Association monégasque des activités financières (AMAF – Monegasque Association of Financial Activities) presented the new edition.
On November 23, the AMAF, chaired by Etienne Franzi, presented the latest edition of Monaco For Finance to its members.
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Frédéric Genta, Interministerial Delegate for Attractivity and Digital Transition, attended the presentation of this bilingual (French/English) magazine, which places finance at the heart of Monegasque activities.
“The steady increase in the assets entrusted to banks and management companies, the steady improvement in their financial performance supported by the reversal of monetary policies on rates, demonstrate this vitality. The market’s excellent health is all the more remarkable because of the backdrop of a number of successive crises, and is a testament to the attractiveness of Monegasque territory,” said Etienne Franzi.
Frédéric Genta confirmed how much Ultra High Net Worth Individuals (UHNWI) are interested in Monaco as a financial centre and reiterated his desire to step up its promotion abroad.
During the evening, Gérald Mathieu, Chairman of the AMAF Promotion Commission, stressed one of the key trends of the year, which is explored in the magazine: the rise of financial technologies, also known as fintechs. With good reason, because in Monaco, the new strength of digital technology is now serving finance. The fintech startups are said to have “shaken up traditional business models by providing innovative solutions, from online banking to electronic payments. Major financial institutions are continuing to seek to work with these players and improve their own technological offerings.”
The issue of regulation was also raised: the AMAF reiterated its involvement in strengthening Monaco’s legislative provisions in order to optimise anti-money laundering, anti-terrorist financing and anti-corruption tools.
Environmental, social and governance (ESG) issues are also covered in this edition. The Association Monegasque de la Finance Durable (AMFID – Monegasque Sustainable Finance Association) was set up in order to promote the sustainability culture in the financial industry in Monaco, in particular by facilitating exchanges between all its members’ ESG coordinators.