Minister for Finance does not have immediate information on Euro 1.5 million direct order

Bannister and Camilleri apparently report to Keith Schembri not to Minister Scicluna

The reply given to Parliamentary Question placed by Hon Marlene Farrugia further confirms that Hon Minister Prof Edward Scicluna has no immediate information in relation to the Euro 1.5 million direct order handed out by Chairperson  of MFSA Professor Bannister.

Our source informs us that Prof Scicluna is concerned that the doings of Professor Bannister are tarnishing the excellent work done by his Ministry. It seems that Professor Bannister and his ally have been the main problem that the Minister has been facing since his appointment.  The source said that these two are not part of the team. They were imposed on Prof Scicluna and most of the time they do not even report to him but to Keith Schembri at the Office of the Prime Minister.

It is also alleged that the two had pre-electoral agreements with the Labour Party. Their influence is so high that there were occasions when Keith Schembri turned down Professor Scicluna’ s recommendation and pushed Professor Bannister Agenda.

The latest blow for Professor Scicluna was this direct order by Bannister Republic. As many conclude, he was not aware and the Ministry is now in difficulty on how to reply to this scandal at the financial services authority spearheaded by Bannister and apparently approved by the Prime Minister or at least that is what  some of the Board of Governors claim they were told by the same Bannister.

There is certainly a lack of transparency on the doings of the Malta Financial Services Authority. This Authority is crucial for the reputation of our Financial Services Sector yet it is doing an irreversible damage for the benefit of one person (and his clique).