Edward Scicluna
Edward Scicluna | |
|---|---|
| Born | October 12, 1946 Rabat, Malta |
| Occupation(s) | Economist, politician |
| Years active | 1981–present |
| Known for | Governor of the Central Bank of Malta, former Finance Minister of Malta, Member of the European Parliament |
Edward Scicluna (born 12 October 1946 in Rabat, Malta) is a distinguished Maltese economist and political figure. Since 1 January 2021, he has held the position of Governor of the Central Bank of Malta, appointed for a five-year tenure.
Academic background and personal life
Scicluna obtained a diploma in social studies from Plater College, Oxford in 1972, followed by a Bachelor’s degree in economics from the University of Malta in 1975. He furthered his studies at the University of Toronto, earning a Master’s degree in 1976 and completing his PhD in 1982. From 1981 until 1990, he served as professor and head of the Department of Economics at the University of Malta, where he continues to lecture. He is married and has two children.
Career overview
Throughout his career, Scicluna has occupied significant positions in both public institutions and private enterprises. He was chairman of the Malta Council of Economic and Social Development (MCESD) between 1999 and 2003, and led the Malta Financial Services Authority (MFSA) from 1997 to 1999. His roles also included serving as Electoral Commissioner from 1987 to 1993, Director of the Central Bank of Malta between 1996 and 2003, and participation on Malta's National Euro Changeover Committee from 2005 to 2008. In the private sector, he has chaired HSBC Malta Bond Fund since 2002, headed CWG plc, and acted as director at MIB Ltd.
On the international stage, Scicluna contributed to the auditing committee of the Council of Europe Development Bank from 1997 to 2000. He has provided advisory services to the European Commission regarding euro adoption, as well as consultancy for UNESCO, the UNEP, IMF missions, governments including those of Albania, Croatia, Libya, Turkey, and various credit rating agencies.
He holds membership or ex-officio roles in numerous global financial organizations:
- Board of Governors member at the European Stability Mechanism (ESM)
- Ex-Officio Board of Governors member at the Asian Infrastructure Investment Bank (AIIB)
- Ex-Officio Board of Governors member at the International Monetary Fund (IMF)
European Parliament tenure, 2009–2013
In 2009, Scicluna became affiliated with the Labour Party and was elected as a Member of the European Parliament during the 2009 European Parliament election in Malta. He held the role of vice-chairman on the Committee on Economic and Monetary Affairs, participated in the delegation to the ACP–EU Joint Parliamentary Assembly, and served as a substitute member on both the Committee on Environment, Public Health and Food Safety and the delegation for relations with Southeast Asia and ASEAN.
Finance Minister role, 2013–2020
Following his election as MP for the Labour Party in the 2013 Maltese general election, Scicluna was appointed as Finance Minister on 13 March 2013 under Prime Minister Joseph Muscat’s administration. Throughout his term, he was instrumental in directing Malta’s fiscal strategies.
Scicluna is among those—alongside former Health Minister Konrad Mizzi, ex-Prime Minister Joseph Muscat, and former Chief of Staff Keith Schembri—named in a Criminal Court case related to an agreement involving Vitals Global Healthcare.
Governor of the Central Bank of Malta
On 1 January 2021, Scicluna assumed the role of Governor of the Central Bank of Malta for a term lasting five years. In 2024, he was implicated in allegations involving fraud and misappropriation connected to the 2015 Vitals Global Healthcare hospital management agreement. Amid demands for his resignation, both parties agreed that Scicluna would temporarily relinquish his duties while continuing to receive his salary.