21/10/2026 08:30:00

CBM Governor Addresses Annual Conference of the International Network of Financial Services Ombudsman Schemes

The Governor of the Central Bank of Malta Mr Alexander Demarco addressed the Annual Conference of the International Network of Financial Services Ombudsman Schemes, held in Malta between 5 and 7 October 2026.

Organised by the Office of the Arbiter for Financial Services (OAFS), the conference brought together financial services ombudsmen and industry representatives from around the world under the theme "High Performance in the Face of Accelerating Change".

In his address, entitled  "Transiting from Emigration to Immigration: Malta's Post-Independence Economic Success Story", the Governor highlighted Malta's remarkable economic transformation since independence, tracing the country's evolution from one characterised by significant emigration due to lack of job creation to one where Malta has become a recipient of migrants in response to growing employment opportunities.

The speech outlined the key economic and social developments that have contributed to Malta's growth and prosperity, while underlining the important role of policies that transformed the role of women in society and reduced dependency on benefits among men, which together with migration, have supported the country's continued economic development. The Governor highlighted that given Malta's limited land area, future economic growth now requires a policy shift of re-directing incentives towards raising skill levels and investment in cutting-edge technology to boost overall productivity.

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