The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st July 2024 is 12.25% (July 2024)

Pursuing the suggested Late Payment Regulation by the European Commission to combat late payments in Europe and to secure sound cash flow for businesses and the economy at large within the EU, a vote was taken by the European Parliament on Tuesday, 23rd April 2024 with 459 votes in favour, 96 votes against and 54 abstentions. (April 2024)

The Average DSO – Days Sales Outstanding or as also referred to ‘the payment collection ratio’ across all the Maltese business sectors as at 31st December 2023 was 80.41 days. (March 2024)

MACM welcomes the fact that the European Commission acknowledges that late payment hinders businesses and economic growth and is pleased to note that a Late Payment Regulation has been suggested to combat late payments. (January 2024)

The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st January 2024 is 12.5% (January 2024)

The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st July 2023 is 12.0% (July 2023)

The Average DSO – Days Sales Outstanding or as also referred to ‘the payment collection ratio’ across all the Maltese business sectors as at 31st December 2022 was 80.96 days. (March 2023)

The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st January 2023 is 10.5% (January 2023)

The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st July 2022 is 8.00% (July 2022)

Infocredit Group, leading provider of business intelligence and risk management solutions for more than 50 years proudly announces that it is shortlisted at this year’s Credit Awards 2022, in the category of “Credit Information Provider of the Year”! (May 2022)

MACM and Infocredit Group join forces to support the Maltese Business Community with Innovative Credit Risk Management and Compliance Solutions. (April 2022)

The Average DSO – Days Sales Outstanding or as also referred to ‘the payment collection ratio’ across all the Maltese business sectors as at 31st December 2021 was 84.60 days. (March 2022)

The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st January 2022 is 8.00% (January 2022)

The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st July 2021 is that of 8.00%. (July 2021)

It is with great pleasure that MACM and leading provider of business information and risk management solutions, Infocredit Group, announce their new partnership which is aimed to provide highly rated commercial and risk intelligence to the members of the association and the Maltese business community at large. (July 2021)

The Average DSO – Days Sales Outstanding or as also referred to ‘the payment collection ratio’ across all the Maltese business sectors as at 31st December 2020 was 79.68 days. (March 2021)

The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st January 2021 remains at 8.00%. (January 2021)

MACM recently started collaborating with SeminarsMalta.com – a portal that brings together the most important seminars, events, courses and training in Malta. (November 2020)

The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st July 2020 is 8.00% (July 2020)

The Average DSO - Days Sales Outstanding or as also referred to `the payment collection ratio` across all the Maltese business sector as at 31st December 2019 was 76.26 days. (April 2020)

The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st January 2020 is 8.00% (January 2020)

The Malta Association of Credit Management (MACM) is profoundly concerned about the current situation prevailing in Malta. (December 2019)

Josef Busuttil, Director General of the Malta Association Of Credit Management, and President of the Federation of European Credit Management Associations, delivered a motivational speech at the Irish Credit Team Award held in Dublin (October 2019)

The Average DSO – Days Sales Outstanding or as also referred to ‘the payment collection ratio’ across all the Maltese business sectors as at 31 December 2017 was 82.30 days. (March 2018)

The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st January 2018 is 8.00% (January 2018)

The European Commission launches a new online tool to exchange information on companies registered in the EU. Attached please find full details and link to the New System. (June 2017)

The Average DSO – Days Sales Outstanding or as also referred to ‘the payment collection ratio’ across all the Maltese business sectors as at 31 December 2016 was 89.04 days. (March 2017)

The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st January 2017 is 8.00%. Attached please find full Press Release (January 2017)

The main provisions of the EU Regulation 655/2014 which came into force on 17 July 2014 apply from 18 January 2017. This EU Regulation establishes a European Account Preservation Order (EAPO) procedure to facilitate cross-border debt recovery in civil and commercial matters. The EAPO procedure allows for a single order to be made in the courts of one Member State which would be capable of 'freezing' any bank account of a debtor in any other Member State. It thus makes it less cumbersome, lengthy and costly for a creditor to obtain provisional measures to preserve assets in bank accounts of their debtor/s located in another EU Member State. Attached please find Full Press Release. (January 2017)

Josef Busuttil, Director General of MACM, elected President of FECMA. Attached please find content of the Press Release. (November 2016)

The Malta Association of Credit Management (MACM) informs the Maltese business community that the applicable legal interest rate in the event of late payment in commercial transactions in force on 1st July 2016 is 8.00% (July 2016)

Josef Busuttil, director general of the Malta Association of Credit Management (MACM), participated in the 5th World Credit Congress, which was held between the 8th and 10th June 2016 at the Marriott Hotel in Bucharest, Romania. During his one hour presentation, Josef Busuttil argued that in today’s commercial world, competition is increasing and suggested that the credit function has become a people’s function and its role has become that to assist sales. Companies are deploying the credit function to gain and sustain competitive advantage in the market. (June 2016)

Josef Busuttil, director general of the Malta Association of Credit Management (MACM), participated in the 4th World Credit Congress, which was held between the 14th and 16th May 2013 at Indaba Hotel & Conference Centre in Johannesburg, South Africa. During his one hour presentation, Josef Busuttil suggested that in view of the current World economic and financial strains, the credit management function should be involved to gain and sustain competitive advantage in the market. (May 2013)

MACM at the FENCA World Collection Congress in Madrid and Josef Busuttil re-elected Vice President of FECMA for a further period of two years. (November 2012)

Josef Busuttil, Director General of MACM - Malta Association of Credit Management, has been re-elected Vice President of FECMA (Federation of European Credit Management Associations) in a meeting held in Paris, France, on Friday, 19th November 2010. MACM joined FECMA in May 2003 and Josef Busuttil has held the role of Vice President since 2004. (November 2010)

The Malta Association of Credit Management (MACM) has participated in the largest UK Credit Industry Conference. Please find attached a news release for your attention. (October 2010)

FECMA – Federation of European Credit Management Associations has issued a Press Release to be published in all Business Press across Europe regarding the negative impact of Abridged Accounts and Audit Thresholds in view of the current economic and financial turmoil. MACM – Malta Association of Credit Management is member of FECMA Please find attached a news release. For favour of publication. (March 2010)

Josef Busuttil, director general of the Malta Association of Credit Management (MACM), participated in the 2nd World Credit Congress, which was held on the 24th and 25th November 2009 at The Burlington Hotel, Dublin. During his one hour presentation, Josef Busuttil suggested that the credit management function should contribute to gain and sustain competitive advantage in the market. Josef Busuttil said that following the recent credit crisis, the role of the credit practitioners should be enhanced. The credit people should be more involved in the strategic decisions taken by the management team, as they are the ones who are responsible for sound cash flow - the lifeblood of business organisations. (November 2009)

News from Graydon Attached please find information about new services offered by Graydon, a World leading provider of Credit Rating Reports. MACM is the authorised distributor of Graydon International in Malta. (October 2009)

The Council of MACM is proud to note that MACM students who sat for the Institute of Credit Management (UK) examinations last June 2009, have achieved a success rate of 90%, with a number of local students awarded Distinction grades and other three prize winners for achieving the best result in three different modules. (September 2009)

Undoubtedly, during these turbulent times, local exporters and importers are being faced with formidable challenges in obtaining or effecting payment from / to overseas. In view of its widely acclaimed international network and vast acquired expertise, HSBC is ideally placed to give invaluable assistance in this field. In fact this is an integral part of HSBC’s ‘Leading International Business’ strategy, whereby the bank is highlighting its competitive advantage derived from its unique worldwi (August 2009)

Following the Annual General Meeting of MACM, the new council elected the new officials to manage the Malta Association of Credit Management for the coming two years (2009 – 2011). (July 2009)

Josef Busuttil, Director General of the Malta Association of Credit Management, delivered a 90 minutes presentation during the Mexican Credit Congress held in Mexico City on Friday, 10th July 2009. (July 2009)

The Malta Association of Credit Management (MACM) has recently been appointed official MBA Corporate Partner of the European Institute of Education (eie) within the IUKB MBA programme. (March 2009)

In view of the economic and commercial turmoil that the business community has experienced during the year 2008, the Malta Association of Credit Management (MACM) has been proactive by improving its services and systems provided to its members. All enhancements were made upon the suggestions of the members themselves in order to ensure high quality standard and to meet the various demands of the Maltese creditors. Keeping in mind the importance of sound profit and efficient cash flow management, the revamped website features a wide variety of content and introduces new interactive and unique tools for the MACM users. (January 2009)

MACM Web Services at a Glance (January 2009)

The Council of the Malta Association of Credit Management (MACM) is pleased to inform its Members and the Maltese business community that an agreement has been signed between MACM and Graydon International. (December 2008)

Josef Busuttil, Director General of the Malta Association of Credit Management, has been re-elected Vice President of FECMA (Federation of European Credit Management Associations) in a meeting held in Cologne, Germany, on Friday, 23rd October 2008. (October 2008)

MINISTER TONIO FENECH CALLS FOR RESPONSIBILITY AS RESPONSE TO CRISIS IN FINANCIAL MARKETS (September 2008)

“Biex nirnexxu fin-negozju rridu nieħdu ħsieb il-cash flow tagħna u noqodu attenti mid-dejn.” Dan qalu s-Segretarju Parlamentari Edwin Vassallo meta kien qed jitkellem fil-ftuħ tal-Konferenza organizzata mis-Segretarjat Parlamentari għan-Negozji Żgħar u s-Self Employed flimkien mal-Malta Association of Credit Management. Il-konferenza ttrattat l-immaniġjar tad-dejn u x’jista` jsir biex negozji ma jbgħatux minħabba dejn li jkunu taw. (October 2005)

The fourth year of the Malta Association of Credit Management was once again characterised by a remarkable increase in its membership. At this point in time, the member groups have a representative turnover of around Lm 500,000,000 and members are coming from various sectors of the Maltese economy, including: FMCG, automotive, communications, insurance, postal services, shipping, transport, IT services, brown & white goods, hardware, printing, travel, advertising, jewellery, chemical industry an (July 2005)

The local commercial banks have recently adopted a voluntary Code of Conduct which sets out minimum standards and principles of good banking practice when they deal with cheques which are dishonoured due to non-availability of funds. The objective of this Code of Conduct is to encourage a greater understanding of the roles, rights and responsibilities of the banks, their customers and third parties for their mutual benefit (February 2005)

The third year of the Malta Association of Credit Management was characterised by a steady increase in membership. The Member groups have a representative turnover of more than Lm400,000,000 and are coming from various sectors of the Maltese economy including the FMCG, Automotive, Communications, Insurance, Shipping and Transport, IT, Brown & White Goods, Hardware Supplies, Printing, Chemical & Paints, Security Systems and Services and Utilities Organisations (June 2004)

Address by the Hon. Censu Galea, Minister for Competitiveness and Communications, during the seminar on "The Evolution of Credit Management in Malta from an E.U. perspective" – Valletta – 6.5.2004 (May 2004)

Diskors mill-Onor. Edwin Vassallo, Segretarju Parlamentari fil-Ministeru ghall-Kompetittivita' u Komunikazzjoni, waqt il-Konferenza ta' L-MACM dwar "The Evolution of Credit Management in Malta from an EU Perspective" - Valletta – 6.5.2004 (May 2004)

The Malta Association of Credit Management has introduced a new Information System to provide Law Court information to its Members at no additional fees. (February 2004)

As a result of the continuous increase in membership, the total members’ turnover, coming from various sectors of the Maltese economy, has now reached LM 400,000,000. The Malta Association of Credit Management (MACM), a non-profit, members-owned organisation announces the launch of its improved web site and internet resources to satisfy the various demands pertaining to credit management and control. (October 2003)

Following the meeting held in Oslo on Friday, 16th May 2003, The Malta Association of Credit Management (MACM) joined the pan-European organisation FECMA (Federation of European Credit Management Associations). MACM was accepted unanimously by all the members of FECMA present at the meeting. (May 2003)

A cheque is one of the oldest forms of non-cash payment instruments having wide-spread use in almost every country. A cheque essentially is an instruction to the bank to debit the payer’s account for a specified amount and to transfer that value to the payee’s bank for credit to the payee account or to pay out cash. (May 2003)

During the first year of The Malta Association of Credit Management, leading companies selling on credit and operating in different commercial sectors of the Maltese economy joined the Association, representing in total a market turnover of over Lm242,000,000 and employing 6,000 people. The sectors now covered are FMCG, automotive, insurance, white & brown goods, computers & IT. (June 2002)

Following a number of meetings between Malta's main automotive and FMCG suppliers, the Malta Association of Credit Management was formed on the 1st of June 2001, with the primary object of providing a central national organisation for the promotion and protection of all credit interests pertaining to local businesses. (June 2001)