The Central Bank of Malta and the Malta Union of Bank Employees, which represents the executive grades within the Bank have signed a collective agreement covering the period from 2009 to 2011.

Negotiations were lengthy but cordial, with both sides remaining loyal both to their mutual objectives as well as to their individual interests. The agreement builds on the previous agreement and seeks to balance increases in productivity and efficiency with improvements in conditions of work based on equity and meritocracy.

This collective agreement contains an important innovation in that it recognises for the first time in a direct manner the contribution which employees in the grades represented by MUBE could make towards the environment through the payment of incentives if agreed environmental targets are collectively achieved during the term of the agreement.

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