Collective agreement signed

The Central Bank of Malta and the three unions representing bank employees, MUBE, UHBC and GWU, last Friday signed a new collective agreement covering the years 2005 to 2007.

The agreement was signed after a long period of negotiations, which were carried out in a cordial and responsible manner to benefit both the individual and common interests of the bank and its employees. The new agreement aims to create a balance between an increase in productivity and efficiency, and better working conditions.

The collective agreement recognises every employee's contribution to the bank through the Performance Related Pay policy, and at the same time creating new work opportunities for the employees.