All the banks in the Principality, as well as fund or portfolio management companies, whatever their legal format, are members of the Monaco Association for Financial Activities (Association Monégasque des Activités Financières - AMAF).
Its aim is three-fold, ie:
- Representing credit institutions and management companies in the Monaco sector in an exclusive manner, doing so vis-à-vis the authorities of the Principality and the general public (here is the list of members)
- Promoting the banking sector and fostering its development
- Taking any action that might improve the means of action of its members and enhancing the image of the sector outside the Principality
The AMAF not only brings together all the institutions in the sector, but also maintains an ongoing dialogue with social partners as well as the major economic players in the Principality. It is also a key contact for the Monegasque authorities for all matters relating to the profession.
It is associated with the development of all the texts of Laws, of Sovereign Orders and Ministerial Orders relevant to the sector and sets professional standards, which meet the highest international criteria, in the most sensitive areas: the fight against money laundering and the financing of terrorism, portfolio management, etc.
The AMAF is therefore at the heart of the action and discussions with regard to reforms that are necessary and even essential for the harmonious development of banking and finance.