The Central Bank of Malta and the Union Ħaddiema Bank Ċentrali (UĦBĊ), which represents the clerical grades within the Bank, on Tuesday signed a collective agreement covering the period from 2009 to 2011.

According to a statement on Wednesday by the Central Bank, 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.

The 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 UĦBĊ 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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