John Mamo and Gavin Gulia re-appointed as Chairmen of MFSA and MTA respectively

Prof John Mamo and Dr Gavin Gulia have been re-appointed as Chairman of the Malta Financial Services Authority and Chairman of the Malta Tourism Authority respectively following scrutiny carried out by the Parliamentary Committee for Public Appointments on their work in these roles over the last few years.

Their appointments were confirmed, with the Opposition once again voting against. Opposition spokesman Carol Aquilina said the they voted against the re-appointment of Prof Mamo because in the last three years a lot of damage was caused to the country because of the way things were managed at the MFSA under his leadership.

He said that the Opposition has opposed the re-appointment of Dr Gulia in the light of the report by the Standards Commissioner about the consultancy of former Minister Konrad Mizzi, and the way that matters unfolded when Dr Gulia resigned from MP shortly after being elected, in order to go back to his present post.

Earlier, Prof Mamo said that the Authority is being accused of a lack of transparency. He said that this does not happen because of secrecy but because the information is provided at the opportune time. He said that the incidents linked to Pilatus bank and   Satabank are unfortunate and were given international attention when in fact they are two very small banks. He pointed out there have also been cases of money laundering in Germany, the UK and other countries.

Prof Mamo also said that articles were published concerning money laundering in international newspapers written by Maltese journalists which were then reproduced in the Maltese media to make it seem that there was international attention focussed on Malta. He said that these articles were not written by journalists who work on Wall Street or with the Financial Times.

Prof Mamo said that Moneyval and the International Monetary Fund had long been expressing their concerns about the supervision and enforcement in Malta where banks and financial institutions are concerned, but this took on a greater resonance with the Pilatus case.

On his part, Dr Gulia said that he had given instructions to nullify the contract of former Minsiter Mizzi, contrary to what was stated in the report by the Commissioner for Standards that the MTA had not taken any action.  He also said that the law did not give him the power to take action against the CEO in this case. He also stated that no one put pressure on him to contest the casual election and he resigned because he accepted the request of the PM to continue leading the MTA at such a difficult time. He said that prior to the pandemic, a new record of tourist arrivals had been reached in Malta for the first two months of winter 2020.