News & Events

News

Liechtenstein keen to join the IMF

The Liechtenstein government has advocated joining the International Monetary Fund (IMF). Membership of the organization would primarily be intended to provide security in times of crisis. Other benefits include targets for trade growth and exchange rate stability that tie in nicely with Liechtenstein’s economic ambitions.

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Liechtenstein remains on the growth path

Geopolitical developments and inflation are putting the global economy under pressure. Liechtenstein recorded average growth in the first quarter of 2022. The banking sector also remains on course for growth. These are the findings from the latest Economic Monitor report on the economy in Liechtenstein.

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Positive assessment for Liechtenstein in the fight against money laundering

The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (Moneyval) at the Council of Europe has positively appraised the performance of Liechtenstein as part of its fifth report. Both the authorities and the financial sector in Liechtenstein have demonstrated competence in responding to the risks of money laundering.

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Liechtenstein’s banks support refugees

The three large Liechtenstein banks are providing refugees from Ukraine with a fee-free account connection until further notice. With this free access to banking, they are helping persons from Ukraine with protection status “S” cope with their daily lives in Liechtenstein as quickly as possible.

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Liechtenstein finance sector implementing sanctions against Russia

The Liechtenstein Bankers Association and the Liechtenstein Institute of Professional Trustees and Fiduciaries have pledged their full support to the authorities in implementing the sanctions levied against Russia. The organizations play a key role as intermediary bodies within the Liechtenstein finance sector. The Liechtenstein Bankers Association (LBA) and the Liechtenstein Institute of Professional Trustees and Fiduciaries (THK), headquartered in Vaduz, have pledged their full support to the government and authorities in implementing the sanctions imposed on Russia. As the most important and largest associations of the Liechtenstein finance sector, the LBA and THK are aware of their responsibility and key role in the enforcement of sanctions, they explain as part of a joint statement. «We recognize the central role of financial intermediaries with regard to the sanctions imposed worldwide and assure the Liechtenstein government of our full support in the consistent implementation and application of these sanctions», the statement reads. As such, the LBA and THK are maintaining regular contact with the competent authorities and the government’s crisis team. Moreover, the organizations «vigorously» condemned the Russian invasion of Ukraine in the joint statement, expressing their hope for a swift end to the war and a «return to dialogue and diplomacy» as well.    

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Liechtenstein alliance committed to sustainability

The Liechtenstein Bankers Association, the Association of Liechtenstein Charitable Foundations and Trusts, and the SDG Alliance Liechtenstein are working together toward the UN’s sustainability goals with immediate effect. The partners hope to more effectively support the 17 goals.

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Events

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