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© Direction de la Communication - Michael Alesi

For more than 50 years, the Monaco Association for Financial Activities (AMAF) has been the professional body for institutions accredited to conduct banking or financial activities in the Principality. It brings together all of the banks and fund or portfolio management companies operating in the Monegasque financial sector, and has nearly a hundred members.

Its role is to represent its members, particularly in dealings with the Monegasque authorities, to enhance their image outside the Principality, to engage in an ongoing dialogue with social partners and the country’s main economic stakeholders, and to contribute to thinking about the reforms needed to enable the sector to flourish.

The AMAF is therefore involved in drafting legislation of interest to the sector. It also establishes professional standards, drawing on international standards, including in areas that can be sensitive (for example, efforts to prevent money laundering).

The AMAF was additionally behind the Monegasque Professional Certification, an initiative introduced by the Prince’s Government in 2014 to consolidate the competency levels of staff working for banks and management companies in Monaco (the photo opposite shows Minister of State Serge Telle receiving graduates of the certification programme in October 2019).

© DR
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Association Monégasque des Activités Financières

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