(Bloomberg) -- Malta’s central bank chief, Edward Scicluna, has submitted a request to European Central Bank President Christine Lagarde asking to step aside from his role as governor while a court case against him is pending, according to a statement from Malta’s government.
“The cabinet of ministers recognizes that the decision taken by Professor Scicluna is in the best national interest,” the government said on its website on Tuesday.
The deputy governor, Alexander Demarco, will be assuming Scicluna’s function in his absence, according to the statement.
The head of Malta’s central bank is automatically a rate setter on the ECB’s Governing Council.
Scicluna has previously said that he denies any wrongdoing.
©2024 Bloomberg L.P.