Following an Extraordinary General Meeting on the 28th March, during May the MBA formally launched a restructuring process concerning its work streams with a view to streamline its operations and to ensure that the Association will have the necessary flexibility to adapt in an efficient manner to the constantly changing environment in which its members operate. In a nutshell the adoption by the Association of a new Statute formally created six Standing Committees – namely Accounting, Financial Reporting & Data; Prudential Policy, Regulation & Supervision; Financial and Cyber Crime & Fraud; ESG, Sustainability & Economic Growth; Consumer Affairs, Education & Communications and Technology, Innovation & Digitalisation – and replaced the previous set up of an Executive Committee and various sub-Committees of the later. The Standing Committees, which are all headed by a Chair and a Deputy Chair appointed from the representatives nominated by the participating banks, meet on a regular basis and may augment their normal schedule of meetings if and when necessary. Furthermore, the amended Statute also incorporates that all members of the Association henceforth form part of the MBA Board.
