05/03/2021

New collective agreement at Central Bank builds on past achievements

The Central Bank of Malta and the Union Ħaddiema Bank Ċentrali (UĦBĊ) on 4 March signed a new Collective Agreement covering the period 2020 to 2023.

"We are all proud that - in spite of the difficult times of the pandemic - an agreement has been reached. I would like to express my sincere gratitude to the UĦBĊ members and their representatives together with senior officials from the Bank for this achievement," Bank Governor Edward Scicluna said.

The agreement continues to build on achievements gained in the past, ensuring a balance between the continuing need for increased effectiveness, efficiency and quality to meet the Bank's requirements in line with its role within the Eurosystem, and good working conditions for the employees.

"The union welcomes the agreement as it provides stability and certainty at a time when this is most valued by the employees, the majority of whom voted in favour. We will continue to discuss other refinements with the Bank over the coming years," Union representative Anthony Portelli said.

The Bank will continue to collaborate with the UĦBC on ways to improve work practices for its employees.

The Bank remains committed to attract and retain the best employees. Besides competitive remunerations and excellent working conditions, the Bank also offers opportunities for career advancement as well as support to staff to further their academic studies both locally and abroad. In order to assist with a work-life balance the Bank also offers flexible work arrangements.

The Bank is an equal opportunity employer and has regularly improved its gender balance: 41.6% of its executives are now female. Nineteen members of the staff now represent 10 non-Maltese nationalities.

The agreement was signed by Governor Edward Scicluna and union secretary Anthony Portelli in the presence of (standing, from left) HR manager Amante Farrugia, Deputy Governors Oliver Bonello and Sandro Demarco, Chief Officer for HR Paul Farrugia and the union financial secretary Rodney Zammit.

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