Prof. Scicluna officially appointed as Central Bank governor

Tista' taqra bil- Malti.

The President of Malta, acting on the advice of the Prime Minister, has appointed Professor Edward Scicluna as Governor of the Central Bank of Malta for a period of five years.

The appointment will come into force on Friday January 1st.

Prof. Scicluna had served as Minister for Finance and Financial Services between 2013 and November 2020.

In 2009, he had been elected to the European Parliament where he served for four years as vice-chairman of the Economic and Monetary Affairs Committee and as the European Parliament’s representative on the European Statistical Advisory Board.

Among various roles, he was the chairman of the Malta Council of Economic and Social Development, chairman of the Malta Financial Services Authority and a director of the Central Bank of Malta.

He will replace incumbent Dr Mario Vella, who has served as Governor since 1 July 2016, and who has been appointed by the Government of Malta as the Special Commissioner for Economic, Financial and Trade Relations with the United Kingdom, a role he takes up on 1 January 2021.

The Nationalist Party was against Scicluna’s appointment stating it would cause great harm to the reputation of the country at a time when such harm was ill afforded.

Former PN leader Adrian Delia had filed a court case seeking the revocation of the controversial hospitals’ concession granted to Vitals and since transferred to Steward, arguing that this case provided ample evidence of why Scicluna was unfit for purpose.

The PN has also highlighted that Scicluna saw no wrong in the signing of a memorandum of understanding with Vitals ahead of the signing of the concession, and claimed ignorance on the signing of an agreement which would grant Steward €100 million in the event of the concession’s cancellation for any reason. The PN also states that those involved in the agreement, including former Minister Edward Scicluna, did not seek to safeguard the national interest.