• Home
•  
• News
•  

Central Bank of Malta updates CBM Directive No. 19

The Central Bank of Malta (the Bank) has today published an updated  text of CBM Directive No. 19 on the use of cheques and bank drafts (the Directive). The Directive establishes the regulatory framework governing the use of cheques and bank drafts where the payer, payee and the regulated institutions servicing these paper-based instruments are all located in Malta.

The updated text introduces several revisions aimed at strengthening the framework governing paper-based payment instruments and supporting the ongoing shift towards safer and more efficient payment methods. In particular, the amendments provide for an increase in the minimum value for the issuance of cheques, a reduction in the validity period of cheques, and the mandatory deposit of cheques into a payment account.

These changes form part of the Bank's ongoing efforts to ensure that the framework remains clear, effective and aligned with evolving payment practices and technological developments in the payments landscape.

The updated provisions will come into force on 1 January 2027, allowing sufficient time for regulated institutions and customers to adapt to the new requirements.