Identifier
Created
Classification
Origin
09VALLETTA152
2009-04-06 11:20:00
SECRET//NOFORN
Embassy Valletta
Cable title:
MALTA: MFSA SAYS FIM BANK REMAINS COMMITTED TO
how-toP 061120Z APR 09 FM AMEMBASSY VALLETTA TO SECSTATE WASHDC PRIORITY 2050 INFO EU MEMBER STATES COLLECTIVE PRIORITY IRAN COLLECTIVE PRIORITY DEPT OF TREASURY WASHDC PRIORITY
S E C R E T VALLETTA 000152
NOFORN
E.O. 12958: DECL: 04/01/2019
TAGS: PARM PREL EFIN KNNP MT IR
SUBJECT: MALTA: MFSA SAYS FIM BANK REMAINS COMMITTED TO
RATCHETING DOWN ITS EXPOSURE TO IRAN
REF: A. TD-314/019129-09
B. TD-314/011928-09
C. 08 VALLETTA 190
Classified By: Classified by CDA Jason Davis, reasons 1.4 (b) and (d)
S E C R E T VALLETTA 000152
NOFORN
E.O. 12958: DECL: 04/01/2019
TAGS: PARM PREL EFIN KNNP MT IR
SUBJECT: MALTA: MFSA SAYS FIM BANK REMAINS COMMITTED TO
RATCHETING DOWN ITS EXPOSURE TO IRAN
REF: A. TD-314/019129-09
B. TD-314/011928-09
C. 08 VALLETTA 190
Classified By: Classified by CDA Jason Davis, reasons 1.4 (b) and (d)
1. (S) Following reports (see Refs A,B) that individuals
associated with the Iran Investment Company (IIC) had
recently been involved in financial activity involving
Malta-based FIM Bank, Charge' several weeks ago asked Joseph
Bannister, head of the Malta Financial Services Authority
(MFSA) whether he could confirm that FIMBANK remained
committed to its undertaking (Ref C) to ratchet down its
dealings with Iran. Bannister said he would look into the
matter and report back.
2. (C) On March 30, in a meeting at MFSA headquarters, Charge
met with Bannister and with MFSA Director General Andre
Camilleri. Bannister said that he had spoken to FIM Bank's
senior leadership, and that they had "reaffirmed their
policy" of reducing the banks exposure to Iran. He added that
"so far, no Iranian individual or company" had approached any
Maltese financial institutions with transactions or requests
of concern. Camilleri noted that Malta's Registrar of
Companies had adjoining offices with the FIU, meaning that
attempts by Iranian companies to establish themselves in
Malta would come to his attention. Meanwhile, he added, large
monetary movements would be caught by the Central Bank; here,
to, there had been nothing untoward in the past year.
Comment
--------------
3. (C) Due to the nature of the reporting, we were unable to
refer specifically to the information in Refs A and B, which
was in any event somewhat inconclusive. Nonetheless it was
reassuring that these Maltese officials were willing to state
firmly that they were confident there had been no significant
recent uptick in Iranian financial activity in Malta.
DAVIS
NOFORN
E.O. 12958: DECL: 04/01/2019
TAGS: PARM PREL EFIN KNNP MT IR
SUBJECT: MALTA: MFSA SAYS FIM BANK REMAINS COMMITTED TO
RATCHETING DOWN ITS EXPOSURE TO IRAN
REF: A. TD-314/019129-09
B. TD-314/011928-09
C. 08 VALLETTA 190
Classified By: Classified by CDA Jason Davis, reasons 1.4 (b) and (d)
1. (S) Following reports (see Refs A,B) that individuals
associated with the Iran Investment Company (IIC) had
recently been involved in financial activity involving
Malta-based FIM Bank, Charge' several weeks ago asked Joseph
Bannister, head of the Malta Financial Services Authority
(MFSA) whether he could confirm that FIMBANK remained
committed to its undertaking (Ref C) to ratchet down its
dealings with Iran. Bannister said he would look into the
matter and report back.
2. (C) On March 30, in a meeting at MFSA headquarters, Charge
met with Bannister and with MFSA Director General Andre
Camilleri. Bannister said that he had spoken to FIM Bank's
senior leadership, and that they had "reaffirmed their
policy" of reducing the banks exposure to Iran. He added that
"so far, no Iranian individual or company" had approached any
Maltese financial institutions with transactions or requests
of concern. Camilleri noted that Malta's Registrar of
Companies had adjoining offices with the FIU, meaning that
attempts by Iranian companies to establish themselves in
Malta would come to his attention. Meanwhile, he added, large
monetary movements would be caught by the Central Bank; here,
to, there had been nothing untoward in the past year.
Comment
--------------
3. (C) Due to the nature of the reporting, we were unable to
refer specifically to the information in Refs A and B, which
was in any event somewhat inconclusive. Nonetheless it was
reassuring that these Maltese officials were willing to state
firmly that they were confident there had been no significant
recent uptick in Iranian financial activity in Malta.
DAVIS