From currency board to central banking : impact on the Maltese economy

Abstract

The Central Bank of Malta was established on the 17th of April 1968 with a primary concern to maintain a sound currency system and to help in promoting the development of the country's economy by fostering the growth of the necessary financial infrastructure The Central Bank of Malta Act which .was passed by the House of Representatives in November 1967 provided for the transfer of the Note Security Fund from the Treasury to the Central Bank On 7th June 1968, when this transfer took place, the Bank "undertook the sole responsibility for the issuance and redemption of currency notes and coin in Malta"*