Home Affairs Ministry in talks with ‘main bank’ to offer services to cannabis associations
The Home Affairs Ministry is in discussions with a ‘main bank’ to offer services to non-profit cannabis associations
The Home Affairs Ministry is in discussions with a “main bank” to offer services to non-profit cannabis associations.
Replying to a parliamentary question by Labour MP Cressida Galea, the minister for home affairs Byron Camilleri said his ministry is currently in discussions with the unnamed bank in order to ensure NGOs operating the associations can be offered banking services without added hurdles.
Anyone interested in setting up a non-profit cannabis club will be able to apply for a license as from 28 February.
ARUC gave an overview of the application process and relevant criteria during its ‘Setting the Standards’ conference at the MFCC in Ta’ Qali on Friday morning.
Non-profit clubs will be called ‘Cannabis Harm Reduction Associations’ and will have to be registered with ARUC to receive licensing.
The minister said talks with other banks are expected to begin in the coming weeks.