The Central Bank of Malta (CBM) and the Armed Forces of Malta (AFM) have signed a Memorandum of Understanding (MoU) that provides a formal basis for cooperation between the two institutions.
The Governor of the Central Bank of Malta, Professor Edward Scicluna and the Commander of the Armed Forces of Malta, Brigadier Jeffrey Curmi witnessed the signing of the agreement by Mr Jesmond Gatt, Chief Officer Banking Operations on behalf of the Central Bank of Malta and Colonel Clinton O’Neill, AFM Operations, on behalf of the Armed Forces of Malta.
Professor Scicluna noted that “The agreement signed reflects the determination of the two institutions to continue with their long-standing tradition of mutual assistance through the sharing of personnel, training and resources, and allowing them to further this cooperation in the use of business continuity facilities in an effective manner”.
The Commander of the Armed Forces of Malta, Brigadier Jeffrey Curmi said that “The Armed Forces of Malta is honoured to have among the primary and secondary roles under its responsibility that of assisting with its own resources and capabilities other institutions that have a national strategic importance”.
This MoU is important as it formalises and strengthens the existing relationship between the Armed forces of Malta and the Central Bank of Malta. This agreement also builds on years of assistance provided by the Armed Forces of Malta to the Central Bank of Malta in securing its activities and assets. The provisions of the MoU also allow both parties to enter into further arrangements for mutual assistance such as information-sharing and other operational arrangements in specific areas of operation.