The Central Bank and the Malta Union of Bank Employees, which represents the executive grades within the bank, last Tuesday signed a collective agreement running to 2011.
The agreement builds on the previous one and seeks to balance increases in productivity and efficiency with improvements in conditions of work based on equity and meritocracy.
This collective agreement contains an important innovation: for the first time it directly recognises the contribution which employees in the grades represented by MUBE could make towards the environment through the payment of incentives if agreed environmental targets are collectively achieved during the term of the agreement.