Governance Structure

image

MDB Board of Directors

The MDB is run by a Board of Directors consisting of a Chairperson and four Directors appointed by the Minister (all from the private non-bank sector) as well as two independent Directors appointed by the Minister on the recommendation of the Malta Council for Economic and Social Development (MCESD). The Chairperson shall be appointed after consultation with the Opposition.

The Chairman and the two independent Directors shall hold office for a period of six years and may be re-appointed. The other Directors shall hold office for five years and may be re-appointed.

The Board of Directors shall exercise its mandate independently and in an autonomous manner and shall not seek or receive instructions from the Government or any other public authority.

image
image
image
image

Supervisory Board

The MDB is subject to the prudential oversight, regulation and supervision of an independent Supervisory Board appointed by the Minister in terms of article 37(1) of the Malta Development Bank Act.

The Supervisory Board shall consist of a maximum of six members who shall include officials from the Malta Financial Services Authority, the Central Bank of Malta, the Ministry for Finance, and two independent professionals with banking or regulatory experience. The Chairperson is appointed by the Minister from among the two independent professionals after consultation with the Opposition.