The Gozo Business Chamber in collaboration with Bank of Valletta organised its first webinar for 2022 on ‘Digital Payments Solutions for Business’.

New regulations on the use of cheques and bank drafts came into force in 1st January 2022 following the issuance of Directive 19 by the Central Bank of Malta.

As regards cheques the Directive specifically highlights the details that must be included:

  • The date of issue;
  • The payee;
  • The payable amount in words; and
  • The signature of the drawer or the authentication as agreed between the drawee institution and the drawer.


Cheques in excess of € 5,000 cannot be drawn out in cash, and shall be deposited in the payee’s account.  Other obligations are laid out in this Directive, including the faculty to impose administrative fines.  This Directive entered into force on 1 January 2022.

This webinar provided insights to the requirements emanating from the CBM Directive and how digital payments can be part of the solution to ease business payments.  The agenda for this webinar can be accessed through the following link.