Labour MP Charles Mangion leapt to the defence of MFSA chairman Joe Bannister today after criticism made yesterday by Education Minister Evarist Bartolo.

Mr Bartolo had alleged that Prof Bannister had funds in a company in the Cayman Islands and was partner with an investor who was found guilty of tax evasion. He said he had no confidence in Prof Bannister and questioned how the regulator of the Maltese financial services could be involved in such matters.

But Dr Mangion, speaking in Parliament today, said these allegations had also been raised five years ago. They were investigated and then Prime Minister Lawrence Gonzi had then spoken to Joseph Muscat to explain what the situation was.

As a result, Prof Bannister was retained in his post by the Labour government.

Dr Mangion said the financial services sector had benefited greatly from the bi-partisan support it had enjoyed since 1995 and it was important to preserve this situation.

Safeguarding the reputation of the financial services industry included those running it, and he could say that ever since Prof Bannister took over as MFSA chairman, the authority had gone from strength to strength.

One therefore had to be careful and prudent in the way one made his comments.

He augured that Prof Bannister would continue to serve with integrity as in the past years. 

BARTOLO STICKS TO HIS GUNS

Mr Bartolo earlier stuck to his position by issuing a Facebook post about Prof Bannister (See below)

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