A 19-year-old Labour Party councillor who is yet to finish his university degree is serving as a governor at FinanceMalta despite having zero-experience in the sector.
Carlos Zarb, who is a councillor within St Paul’s Bay, was first appointed to the Board of Governors at FinanceMalta in June 2020, when he was still 18. The appointment went under the radar, however, it was brought back to attention by MP David Thake, who wrote on social media:
“He’s 19. A member of FZL and he has A-levels. They made him a director on the Finance Malta board. And the rest of Malta is terrified of Moneyval.”
According to Zarb’s biography on the FinanceMalta page, he was born on 24th November 2001. In 2018, he joined the Labour Party’s youth wing, Forum Żgħażagħ Laburisti. He remains a member of its executive till today.
In a Facebook post in 2017, Zarb admitted that he was a backer of Prime Minister Robert Abela in the 2020 leadership election.
At 17, Zarb was elected as councillor in St Paul’s Bay. He garnered second most votes out of the Labour Party candidates in the district, but could not serve as Deputy Mayor because of his age.
On an educational level, Zarb is still at university currently reading for a law degree.
When contacted, Zarb asked Lovin Malta to direct questions to FinanceMalta.
FinaceMalta is a public-private initiative geared to promote Malta as an international business and financial centre both inside and outside the country.
With Brexit, the COVID-19 pandemic, and the looming risk of greylisting by Moneyval, such bodies are crucial to help ensure that the government keeps up steady investment in the country.
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