Liechtenstein Bankers Association: Outstanding Contribution to Good Bank Governance Liechtenstein 2021

Liechtenstein, a German-speaking principality between Austria and Switzerland, boasts political stability and a strong financial base. It has the world’s highest corporate density, and the financial centre contributes about a quarter of GDP. The Liechtenstein Bankers Association (LBA) works with member banks and regulatory committees to ensure the micronation’s reputation remains as pristine as the Alpine landscape. LBA has published articles of association, a code of conduct, and various guidelines to establish uniform standards for ethics, transparency, due diligence, and long-term sustainability. Banking statistics show impressive growth for past year, despite the challenges of the pandemic. AUM was up nearly three percent, full-time recruitment increased by 13 percent, and women now hold over 40 percent of banking positions. LBA conducted business as usual, save for some necessary changes to setting and processes. A robust digital infrastructure allowed for an easy transition to remote working. The association was concerned about the pandemic’s possible effect on young people and schoolchildren, so it launched a “Giving Joy” campaign to support banking professionals and society at large. In partnership with the social services office, LBA organised activities across various categories — outdoors, creative, sports, research and learning, fun and games — to make a Summer stuck at home as exciting as possible. The CFI.co judging panel presents Liechtenstein Bankers Association, a repeat programme winner, with the 2021 award for Outstanding Contribution to Good Bank Governance (Liechtenstein).

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