The Principality of Monaco is a sovereign state and member of the United Nations and Council of Europe. Although it has not joined the European Economic Community (EEC), it has adopted the euro as its currency.
Prince Albert II is the head of this state, which stretches across two square kilometres between Nice and Menton. The economy is particularly buoyant in the modern technology, telecommunications and finance sectors.
•The banking sector
The Monegasque banking and financial market is very substantial, being structured around some sixty banks and asset management companies amongst which the Crédit Agricole Group is the leader.
Financial institutions act within a secure legal framework, which is strictly regulated in order to protect investors and combat money laundering and the financing of terrorism.
The employees of banks established in Monaco are subject to professional confidentiality to ensure the soundness of the banking sector, which is based on customer confidence and the protection of customer interests.
