Issue link: https://maltatoday.uberflip.com/i/1175418
10.10.19 3 A full job description of these posts is available on the MDB's website: www. CAREER OPPORTUNITY A full job description of this post is available on the MDB's website: www.mdb.org.mt. Additional information may be obtained by contacting the MDB on careers@mdb.org.mt or on +356 2226 1700. are to be submitted by Monday 28 October 2019 addressed to: VLT 1041 or via email on careers@mdb.org.mt BRIDGING THE INVESTMENT GAP SUPPORTING SMEs, INNOVATION, INFRASTRUCTURE & SOCIAL INVESTMENT • (JobsPlus permit 739/2019) mdb.org.mt The Malta Development Bank (MDB) is a promotional bank set up by the Government of Malta in 2017 in terms of the Malta Development Bank Act, 2017 (CAP.574). The aim of the MDB is to complement commercial banks so as to bridge development in Malta, with special focus on SMEs, infrastructure, innovation, digitalisation, education, and other socially-oriented projects. candidates with banking experience who are citizens of European Union Member States for the following vacancy: This post oers an excellent career opportunity and carries a very attractive remuneration package commensurate with qualications and experience. Deputy Chief Executive Ocer FROM PAGE 1 e UK is scheduled to leave the EU on 31 October unless an extension is granted. e meet- ing came 24 hours after reports that a phone call between John- son and Merkel yesterday did not go well and a deal looks less likely. Gill said British Prime Minis- ter Boris Johnson wants a deal, and everyone in the EU wants a deal. "We have a narrow window and now is the time to clinch the deal… the withdrawal agreement was defeated three times in the British parliament and the key issue was always the backstop... the proposal put for- ward now is a reasonable com- promise," Gill insisted. e breakfast meeting heard guests raise various issues, ranging from the impact on the financial services sector, to food and medicine imports from the UK, to the impact on pension- ers who receive a UK pension. e extent of the interventions showed the wide-ranging con- cerns related to Brexit. European Affairs Minister Ed- ward Zammit Lewis said Malta preferred an orderly withdrawal of the UK but was prepared for any eventuality. He also reiterated that Mal- ta wanted to remain the most UK-friendly country in the EU and measures will be put in place to ensure that the transi- tion will be as smooth as possi- ble for British citizens in Malta. Zammit Lewis said the gov- ernment had drawn up plans to ensure that disruptions caused by Brexit would be minimised as much as possible for Maltese citizens and businesses trading with the UK. On bilateral relations between Malta and the UK, Gill cau- tioned against the simplistic view that the relationship be- tween both countries will go back to pre-2004 when Malta joined the EU. "e world has changed, Mal- ta has changed, the UK has changed, the challenges, the opportunities, and threats have changed. It would be compla- cent to say the relationship will simply reverse back to what it was but the UK-Malta relation- ship was crafted over 220 years, and only 15 of those were as EU member states… I am sure that we can have a relationship that last for the next 220 years," Gill said. Financial services disruption Malta Financial Services Au- thority CEO Joseph Cuschieri said a no deal Brexit could bring about significant disruption in the European financial services sector, given the UK's share of the market. Cuschieri said the UK ac- counts for 80% of EU activity in certain market segments, han- dles 77% of euro denominated transactions, and 50% of EU fund management activity in Europe happens in the UK. "e numbers show the criti- cality of the UK market in finan- cial services, which makes it in- cumbent on having agreements in place between EU regulators and their UK counterparts," Cuschieri said. He said the spill over problems should be contained in Malta. "e MFSA has worked on an individual basis with some of the large financial services insti- tutions and banks, and on a sec- tor-wide basis in other areas to mitigate the expected impacts of a no deal Brexit," he added. Marika Tonna, CEO Business First, from Malta Enterprise said the agency was working with Maltese companies to help them adapt when the UK be- comes a third country. Tonna said the bigger com- panies that had experience in different markets, Brexit would not be much of a disruption, but for smaller enterprises that only worked with the EU, the UK's exit could create logistical problems. "We are working with mi- croenterprises to help smooth the transition but it is obvious that there will be changes, and additional paperwork," Tonna said. She also noted that Malta En- terprise was also trying to at- tract UK-based companies that were seeking to co-locate part of their business to an EU coun- try. READ ALSO e full text of the speeches delivered at the BusinessToday Breakfast Meeting by Minister Edward Zammit Lewis, Joseph Cuschieri, Marika Tonna and David Xuereb PAGES 4 - 7 Minister reiterates Malta's intent to remain the most UK-friendly of EU27 The panel of speakers: (left to right) Glenn Micallef, head of the EU Secretariat; David Xuereb, President of the Chamber of Commerce; EU Affairs Minister Edward Zammit Lewis; British High Commissioner Stuart Gill; MFSA CEO Joseph Cuschieri and Business First CEO Marika Tonna