Cannabis clubs assured of receiving support from local banks
The associations are the only way one can legally buy the drug
Times of Malta (Malta)
Friday, June 16, 2023
Friday, June 16, 2023
The cannabis authority in Malta has been assured that local banks will not turn down potential cannabis clubs on the grounds that they are selling marijuana, after the associations raised concerns that the industry could be deemed too risky. Leonid McKay, who heads the Authority for the Responsible Use of Cannabis, said the issue had been raised during discussions with various stakeholders, including banks and non-governmental organisations. These meetings resulted in feedback from informal contacts with banks that they would possibly refuse to open bank accounts for prospective cannabis clubs – dubbed Cannabis Harm Reduction Associations.
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