Liechtenstein Bankers Association: Outstanding Contribution to Good Bank Governance Liechtenstein 2020

Tiny Liechtenstein boasts one of the world’s highest GDPs per capita. The country’s corporate-friendly tax schemes and skilled labour force have fostered a thriving financial centre. The Liechtenstein Bankers Association (LBA) serves as the unifying voice of those financial institutions, and charts a course for their shared success with a future-orientated roadmap. Stability, quality and sustainability are cornerstones of the LBA mission. The association has started to regularly assess its sustainability performance, measuring operational practices and financial products against internally set and internationally recognised ESG metrics. The LBA takes a proactive approach to shaping the financial centre through sound governance measures and impactful social programmes. A combination of due diligence and strong cybersecurity presents a front against fraudulent and criminal activity. The association is a proud supporter of the Liechtenstein FAST (Fight Against Slavery and Trafficking) Initiative, which addresses those suffering from modern-day slavery. The LBA prioritises lifelong learning, and both LBA and its member banks provide their employees with continuous training to ensure professional skills — and client advisory services — remain sharp and relevant. Education is a core pillar of its social outreach efforts, with targeted youth engagement to increase financial literacy and prevent the accumulation of unnecessary debt. As the LBA celebrated its 50-year anniversary last year, it organised the flagship Liechtenstein Bankers Day, uniting thought-leaders of sustainable finance to discuss the future of financial ecosystems. The CFI.co judging panel presents the Liechtenstein Bankers Association — a repeat winner — with the 2020 award for Outstanding Contribution to Good Bank Governance (Liechtenstein).