Edward Scicluna takes over as governor of the Central Bank for a five-year period on Friday.
The bank said on Tuesday, President George Vella appointed Scicluna governor on the advice of the Prime Minister.
Scicluna was approved as CBM’s new government by parliament’s public accounts committee earlier in December.
The opposition objected to the nomination, saying he had made incompetent decisions during his term and citing a controversial hospital privatisation deal as grounds for concern.
Scicluna served as finance minister for seven years until he stepped down last month.
Prior to that he was an MEP and has also held various positions in public life, including as director of the Central Bank, chair of the Malta Council for Economic and Social Development (MCESD) and the Malta Financial Services Authority.
MPs approve Edward Scicluna as new Central Bank governor
Motion into the appointment of former Finance Minister Edward Scicluna as new Central Bank governor approved with four votes in favour and three against
14 December 2020, 3:02pm
by Karl Azzopardi
Former finance minister Edward Scicluna has been approved as the Central Bank’s governor by parliament’s public appointments committee.
Scicluna was grilled before the committee consisting of Labour MPs Joe Mizzi, Glenn Bedingfield and Clayton Bartolo, and PN MPs Kristy Debono, Karm Mifsud Bonnici and Karol Aquilina. The committee is chaired by Labour MP Anthony Agius Decelis.
Following his decision to stepdown from politics, Scicluna was appointed as Central Bank governor by the Prime Minister Robert Abela.
Parliamentary committee approves Edward Scicluna as Central Bank governor timesofmalta.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesofmalta.com Daily Mail and Mail on Sunday newspapers.
Edward Scicluna allowed several scandals and made incompetent decisions during his tenure as Finance Minister that made him unfit to be appointed the Governor of the Central Bank, the Nationalist Party has said.
In a press conference held in front of Parliament on Saturday, PN MPs Adrian Delia, Mario Demarco and Karol Aquilina said that the party would be opposing his nomination in parliament.
Scicluna s quick nomination to serve as Central Bank governor was part of the Labour Party’s “revolving door politics”.
Outgoing Central Bank governor Mario Vella.
Scicluna was nominated by the government in November to replace outgoing Central Bank governor Mario Vella, at a time when he was still the country s serving Finance Minister.
Obituary
RAPA. On December 10, ROSE of Sliema, passed away peacefully comforted by the rites of Holy Church. She leaves to mourn her loss her husband Dr Eddie Rapa; her daughter Lorraine and her husband Dr Mario Vella, their children Julian and Katrina; her son Joseph and his children Michela and Matthew; her brothers, sisters, in-laws, their families, relatives and friends. The funeral leaves Mater Dei Hospital today, Saturday, December 12, at 9am, for Stella Maris parish church, Sliema, where Mass præsente cadavere will be said at 9.30am. Donations on her behalf to CAN Malta, Attard, will be greatly appreciated. Lord, grant her eternal rest.