The Central Bank of the Republic of San Marino signed a Memorandum of Understanding (MoU) with the Malta Financial Services Authority (MFSA) on October 3, 2023. The agreement establishes a framework for bilateral cooperation between the two regulatory authorities, facilitating the exchange of information and mutual assistance in the supervision and regulation of banking, financial, and insurance activities.
The agreement was signed by Dr. Kenneth Farrugia, Chief Executive Officer of MFSA, and Dr. Andrea Vivoli, Managing Director of CBSM.
Dr. Farrugia pointed out that "the Memorandum of Understanding ensures continuity in mutual assistance between the MFSA and CBSM, while establishing a formal framework for closer cooperation to uphold the quality of supervisory procedures and standards in our respective jurisdictions."
Managing Director Andrea Vivoli emphasized the significance of the MoU with the MFSA: “We are pleased to sign this Memorandum of Understanding with the Malta Financial Services Authority, as it will enhance supervisory effectiveness and strengthen our Central Bank’s international ties."