Articles
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- Category: Interviews
GDP: "An encouraging positive sign for the economy"
4.37 billion euros: according to the Monegasque Institute of Statistics and Economic Studies (IMSEE) this is what Monegasque Gross Domestic Product was in 2011. Lionel Galfré, director, specifies that the weighting of the financial and insurance sector has remained stable. Explanations...
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- Category: Legal Environment
The Monegasque banking and financial marketplace, renowned for its conscientious approach and strict confidentiality, has adopted tough ‘know your customer’ legislation. The Act stipulates that the banks and other professionals covered by it must carry out customer checks.
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- Category: Other Topics
Banque Populaire Côte d’Azur, represented by Dominique Guignard, Director of the Monegasque branch, together with the Chambre de Développement Economique and the insurer Gramaglia, organised a conference-debate on country risk on the 18th October, led by Nicolas de Buttet, Arbitrage Director at Coface.
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- Category: Training
Apprenticeships in the Principality are not limited to manual trades. Every year since 2007, around 15 students qualified to Bac+2 level can access to training for banking jobs which alternates theoretical classes and placements with companies. The results speak for themselves.
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As in every year, the Monaco Financial Markets Association (ACI) provides courses, given at no cost by recognised professionals from the Monaco Financial Market. These are the timetables.
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- Category: Other Topics
On Tuesday, 18 September 2012, Bernard Rousselot, President of the Commission for Promotion of the Financial Market of Monaco at the Monaco Association of Financial Activities (AMAF), Jean Castellini, member of the AMAF Board, Jean Dastakian, Secretary General of AMAF, and Laurence Genevet, Director General of EPI Communication, introduced the new website, dedicated to the dynamic and coordinated promotion of the Monaco Financial Market, ‘Monaco for Finance’ (www.mff.mc).
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- Category: Products and Services
No longer just a possibility, it will soon be a requirement. A European regulation is establishing an internal market for payments in euros, to be in place by February 2014. It is essential for businesses to start mobilising now. Explanations.
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The Monegasque company Société d’Exploitation et de Gestion des Entrepôts de Monaco (S.E.G.E.M) was created last summer in Fontvieille. Claude Valion, its President, has a very clear objective. He aims to promote Monaco’s art market.
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- Category: Legal Environment
Since February the Financial Action Task Force (FATF) has adopted 40 new recommendations. The aim of this review is to update and strengthen the framework of recommendations in response to the new dangers that threaten the international financial system.
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- Category: Products and Services
ETF stands for “Exchange Traded Fund”, a synonym for “Trackers” or “Listed Index Funds” – financial jargon which doesn’t really give the non-expert a very clear idea of what this is all about! In fact these are continuously-listed funds, traded just like traditional shares through orders to sell or buy, and whose purpose is to reflect as closely as possible the performance of a given index.
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In the present context of an economic and financial crisis, the Kyoto Protocol, the French “Grenelle de l’environnement” and stimulus plans have placed socially responsible investments and the topic of sustainable development to the forefront of the scene.
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Investors on Monaco’s financial market are seeking optimal security for their investments together with the best yield. Today this is a delicate exercise, as it is a case of reconciling what are historically very low monetary rates with an uncertain macroeconomic climate in Europe correlated with public deficits. The one definite vector for growth is that of the emerging countries.
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The Islamic Finance sector has grown by 15% per year over the last ten years and the sums involved in 2010 are estimated to amount to 1,000 billion dollars. Standard and Poor’s estimates that the potential market in this sector could be 2,900 billion dollars. The French legal and tax framework offers an opportunity worth consideration by Monaco’s financial markets.
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- Category: Interviews
Monaco for Finance: dynamic, coordinated promotion for Monaco's financial market
Bernard Rousselot, President of the Monaco Financial Sector Promotion Commission of the Monegasque Financial activities Association, is thoroughly committed to Monaco for Finance. This web site, whose name eloquently describes its function, is not just another site… An interview with a man of passion and conviction.
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- Category: Legal Environment
AMCO, the Association Monégasque des Compliance Officers, was founded in 2000 under the auspices of the Monaco Bankers Association - which has since become the Monegasque Association for Financial Activities (Association Monégasque des Activités Financières - AMAF) - and the Department for Information and Control of Financial Circuits (Service d’Information et de Contrôle sur les Circuits Financiers - SICCFIN). The President of AMAF and the Director of SICCFIN are honorary members.
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- Category: Other Topics
A new ambition: “Monaco for Finance”
To show that it genuinely exists, Monaco’s financial market has to be reactive and imaginative. Its promotion should be encouraged by the creation of a label.
