Mar
30

COVID-19 Wage Supplement and Medical Benefit

News_mny2
The Maltese Government is providing businesses operating in certain sectors with a wage supplement for their employees. Applications for businesses to apply for the COVID wage supplement are now online. There are two lists of businesses with a corresponding benefit. Those listed in Annex A on the Malta Enterprise website (businesses operating in sectors which suffered drastically due to the pandemic and businesses which had to temporarily suspend their operations on the order of the Superintendent of Public Health) are entitled to up to 5 days' salary based on €80...
Continue reading
  4678 Hits
4678 Hits
Mar
30

Recent Amendments to the Maltese Special Rules of Processing of Personal Data by Public Authorities in Relation to Criminal Offences

News_Fls
The Maltese subsidiary legislation regulating the Processing of Personal Data by Competent Authorities for the Purposes of the Prevention, Investigation, Detection or Prosecution of Criminal Offences or the Execution of Criminal Penalties ( S.L. 586.08 ), implementing EU Directive 2016/680, came into force on the same day as and in parallel with the EU General Data Protection Regulation (GDPR). The said S.L. 586.08 has recently been amended by virtue of the similarly named Data Protection (Processing of Personal Data by Competent Authorities for the Purposes of th...
Continue reading
  2724 Hits
2724 Hits
Mar
30

COVID-19 Government Employment-Related Grants

News_Empm
The Maltese government has announced a number of employment related measures and grants in response to COVID-19. Applications are now available online for: 1. Parent Benefit: A parent who is employed in the private sector, with children under the age of 16 years, who cannot go to work after the 8 th March 2020 in order to take care of their children and cannot telework, are eligible for this benefit. The benefit is of €166.15 per week if the parent works full-time and €103.85 if the parent works part-time. The application can be downloaded here: https://socialsecu...
Continue reading
  3962 Hits
3962 Hits
Mar
27

MFSA Update: Circular on the Clarification of the Application of the EBA’s COVID-19 Measures

News_pprsplsb
Following up from the statement made by the European Banking Authority (EBA) relating to the temporary capital and operation relief provided to credit institutions, the EBA has issued a further statement to clarify the application of this framework. This statement addresses specifically the classification of loans in default, the identification of forborne exposures and their accounting treatment. In relation to the provision of general moratoria by national governments and EU bodies, the EBA emphasised that it is vital for the classification of exposures to refle...
Continue reading
  2498 Hits
2498 Hits
Mar
27

The Central Bank of Malta Issues Directive 17 in view of Social Distancing Requirements

News_ccb
On 25 th March 2020, following the advice of the Maltese health authorities to the public to pursue social distancing, the Central Bank of Malta (CBM) issued Directive 17, which implements temporary precautionary measures with respect to essential services provided by credit and financial institutions. This Directive entered into force on 26 th March 2020 and outlines the minimum service expectations to be provided by commercial banks and financial institutions with the aim of reducing the number of persons visiting their branches each day. These measures mainly c...
Continue reading
  2887 Hits
2887 Hits