Edward Scicluna to be removed from MFSA board

Edward Scicluna will be removed from the Malta Financial Services Authority’s board of directors, the Prime Minister announced on Thursday, after a court confirmed that there is enough evidence against him for the Vitals fraud case to continue.

“Scicluna will no longer serve as a director of the MFSA,” Robert Abela announced in an interview with Newsbook’s chief editor Matthew Xuereb. “It’s a decision that was taken today and will be published in the Government Gazette tomorrow.”

Scicluna is facing new pressure to resign as both the Governor of the Central Bank of Malta and as a member of the MFSA’s board of directors, where he serves as deputy chairperson.

The latter role is at the discretion of the prime minister, Only he can relieve a board member on the grounds of inability to perform duties due to infirmity or misbehaviour.

Abela said he believes Scicluna will take the right decision with regard to his role as Central Bank governor, suggesting that he will step down from the post eventually.

He said that he hopes Scicluna will take this decision before cabinet convenes next Tuesday.