Central Bank of Malta Governor Edward Scicluna is being paid an additional €12,000 a year to form part of the Malta Financial Services Authority’s board of directors, in his capacity as the country’s central banker.
The remuneration comes over and above his €138,000 remuneration as governor and his three separate pensions, including an uncapped privileged as a former minister.
Scicluna’s successor as finance minister, Clyde Caruana, has been unable to confirm in Parliament whether Scicluna was earning the additional €1,000 a month honorarium as an MFSA board member, which is part and parcel of his role as the central bank’s governor.
Caruana had been asked over two years ago, in February 2021, to state whether Scicluna was earning the remuneration but said he would provide an answer in another sitting. The answer never came.
The Shift can now confirm the remuneration following a Freedom of Information request for a list of the MFSA board member payments over the last two years. The list shows Scicluna received a total of €12,000 between March 2022 and last March.
Government appointees to top and headship positions were until a few years ago precluded from receiving more than one honorarium irrespective of the number of boards or agencies they are involved in.
The Labour administration has, however, changed those rules.
Prime Minister Robert Abela kicked Scicluna upstairs to the post of CBM governor when he took power in 2020 and replaced him with his then-personal assistant Clyde Caruana. While still finance minister, Scicluna increased the central bank governor’s remuneration.
Scicluna also receives a pension as a former minister, two-thirds of the current ministerial salary, a pension as a former Member of the European Parliament as well as the regular National Insurance pension.
Scicluna is not the only one on the MFSA board receiving remuneration from other government appointments.
University of Malta lecturer Philip von Brockdorff also receives a director’s remuneration from the beleaguered Air Malta and is a director of the government’s Gal Xlokk Foundation.
Commissioner of Inland Revenue Joseph Caruana is also receiving the €1,000 monthly payment for attending MFSA board meetings while the same applies to Malta Gaming Authority CEO Carl Brincat.
Chairman Jesmond Gatt receives almost €3,000 a month for his part-time role while also being a government-appointed Executive Chairman at Malta Government Investments.
The MFSA’s board also includes Stephanie Vella, an economist and E-Cubed Consultants Ltd co-owner. E-Cubed Consultants’ other owner is Bank of Valletta Chairman Gordon Cordina. Like all financial institutions, the bank is supervised and regulated by the MFSA.
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#Bank of Valletta
#Board of Directors
#Central Bank of Malta
#Clyde Caruana
#Commissioner of Inland Revenue Joseph Caruana
#E-Cubed Consultants Ltd
#Edward Scicluna
#Gordon Cordina
#Governor
#Jesmond Gatt
#Malta Financial Services Authority
#Philip von Brockdorff
#Stephanie Vella
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Mur gib lis-Sur Francis Vassallo jara dan kollu!
Alla jbierek! Kulhadd jithanzer mill-ahjar li jista! X?ma jikbirx I?d dejn tal-pajjiz. Jekk ma tridx dawn il- ….. wisq probably kienu tkazaw bil- ?500 ta? disgha ex-ministri!
Crooks in suits, the best of the Mafia cabal in the best position he knows where a lot of bodies lie and is paid for his silence. Another candidate for Corradino when the opportunity arises
Another one that thinks the sun will never set for him. He should make space for new blood.
What an absolute shame when ordinary citizens’ pensions do not last 4 weeks.
What a shame for all foreign workers who earn ?5 an hour.
A totally incompetent Finance Minister who was supposedly not involved in the kitchen cabinet!!
Xieraq dan nies jghidu li l-gholi tal-hajja qed ihossuh!?
X’jaf biex jiswa daqshekk dan l-imbroljun? X’inhi r-raguni li qed ituh l-eluf fuq l-eluf minn butna?
Gvern Nazzjonalista messu dahhal l-istrutturi biex dawn ma jigrux, jekk irid jilghabha tal-partit safi.
Why should they give a f*ck about us lesser mortals receiving a misery of a pension, a top tier pension translating to 25% of my hard earned salary. I dread to think about those receiving a lower pension or the workers with families who struggle to get by week by week. I just wish these leeches explode in their greed. I never envied anyone in my life but I am experiencing this feeling each time there is a new revelation about their greed.
ISTHU…..!
It’s so good to be “one of the boys”. (Taxpayers) money? no problem.
We ger capped pensions and this clown gets unlimited public money based on the ability to do nothing correctly. Need a major change that basically makes this illegal
Kulhadd jithanzer ifisser KULHADD
Fejn qatt tobsor li gvern Laurista se jaghti tifsira gdid lill kellma rebgha!
Xi hnizrijja ta’ nies. Qed jahseb li se johodhom mieghu jaqaw??? Mhux se nghid imissu jisthi ghax il-gilda hxienet wisq biex jisthi.
Oink oink ??????
Dan Edward Scicluna jahseb li huwa nvincibbli ghall mewt.
Jemmen li ser jibqa’ jezisti f’din id dinja mnejka.
Il flus huma l Alla tieghu.
Dawn il-hniezer kellhom bzonn mil- inqas legizlatura shiha biex jahmu jew ja.xu lil poplu Malti kollu. Nispera min se jigi warajhom ma jiehux legizlatura shiha ohra biex jitfahhom gewwa. Jew tmut fuq ruh omma, bhal ma dejjem gara!!
Hi hej x Int bravu. Kien hemm l istrutturi imma il labour nehhihom. Aqra l artiklu sew.
Government appointees to top and headship positions were until a few years ago precluded from receiving more than one honorarium irrespective of the number of boards or agencies they are involved in.
The Labour administration has, however, changed those rules.
I guess Prof. Scicluna will tell us that he pays for the coffee, the biscuits and for using the urinal ?
Il ligijiet dejjem isiru wara li il kriminal juza il ligi biex jahrab mil ligi.
L-ewwel mossa ta Muscat kienet li kera il karozza tieghu lilu innifsu.
Mur gib fil Parlament Malti fi zmien il PN tigi proposta ligi li il Prim Ministru ma jistghax jikri il-karozza tieghu lilu innifsu. Mur ara lil opposizjoni Laburista ix-xalata li kienet taghmel. It-tiena haga li ghamel Muscat ILLAXKA l-Etika parlamentari , sa spiccat bla sahha legali. Imma lix xufir ta Simon Busuttil ivintaw gidba fuqu li qed jisraq il fuel mil karozza , li Speaker ghamel xalata , waqaghu ghan nejk kollha kemm huma, bli-speaker b’kollox. Waqt li Konrad Mizzi kien qieghed ihawwad fil Panama Papers kecca lid direttur ta l-Energija ghax mar jara loghba futboll l-ingilterra ma habib u pruvaw isalbu li ex Charman ta l EneMalta ghax mar konferenza u tellgha mieghu is-segretarja biex kollox ikun dokumentat. Waqghu ghan nejk ukoll. Muscat telgha bil weghda ta Trasparenza , Meritokrazija , u spicca xkannat il barra min shabu stess. Se twahhal li il Partit Laburista hu KORROT fil PN ghax missu ma halliex lil Partit Laburista isir korrot. L-unika zball li ghamel il PN kien li wara li telgha il PN wara li stragi ta Mintoff, ma tefghax skoss nies fil qrati tal gustizzja. Imma Dr. Fenech Adami ried jibni lura il-pajjiz mhux jahli il-hin wara kriminali u corma laburisti militarizati.
does the minister of finance know that there are pensioners that only get 400 euro per 4 weeks and tell us how we can survive before give plenty of extra money to big heads
Another highly paid dunsel on the Maltese Ship of State (look it up). Dr. Amnesia continues to serve as a living reminder that no university on the planet tests its MA or PhD candidates for moral rectitude or general decency. Managed to impress the sheeple with his ‘pedigree’, though.
L-istrutturi dejjem jistghu jigu amendati mill Gvern tal-gurnata kif qed jaghmel dan il-Gvern.