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'''Joseph F.X. Zahra''' (born December 3, 1955) is a [[Maltese people|Maltese]] manager and financier.<ref name=Rudolf>{{cite book|last1=Rudolf|first1=Uwe Jens|last2=Berg|first2=Warren G.|date=2010|title=Historical Dictionary of Malta|url=https://books.google.com/books?id=nwuUOVkaMB0C&pg=PA242|publisher=Scarecrow Press|page=242|isbn=9780810873902}}</ref>
'''Joseph F.X. Zahra''' (born December 3, 1955) is a [[Maltese people|Maltese]] manager and financier.<ref name=Rudolf>{{cite book|last1=Rudolf|first1=Uwe Jens|last2=Berg|first2=Warren G.|date=2010|title=Historical Dictionary of Malta|url=https://books.google.com/books?id=nwuUOVkaMB0C&pg=PA242|publisher=Scarecrow Press|page=242|isbn=9780810873902}}</ref>
He has held a number of directorships in both private and [[public companies]] in [[Malta]] and abroad. He is considered close to the [[Nationalist Party (Malta)|Nationalist Party]], and has had business interests together with former Maltese PM [[Lawrence Gonzi]].<ref name=":0">Vittorio Malagutti e Stefano Vergine, [https://espresso.repubblica.it/inchieste/2017/06/15/news/vaticano-offshore-ecco-la-rete-del-finanziere-di-fiducia-del-papa-1.304356 Vaticano Offshore: ecco la rete del finanziere di fiducia del papa], ''L'Espresso'', 20 June 2017</ref> He is a former director of the [[Central Bank of Malta]] and former chairman of [[Bank of Valletta]] plc, [[Maltacom]] plc and [[Mapfre Middlesea|Middlesea Insurance]] plc<ref>{{Cite web|title=Curmi and Partners appoint Joseph F.X. Zahra as director|url=https://timesofmalta.com/articles/view/Curmi-and-Partners-appoint-Joseph-F-X-Zahra-as-director.593929|access-date=2021-04-08|website=Times of Malta|language=en-gb}}</ref>
He has held a number of directorships in both private and [[public companies]] in [[Malta]] and abroad. He is a former director of the [[Central Bank of Malta]] and former chairman of [[Bank of Valletta]] plc, [[Maltacom]] plc and [[Mapfre Middlesea|Middlesea Insurance]] plc<ref>{{Cite web|title=Curmi and Partners appoint Joseph F.X. Zahra as director|url=https://timesofmalta.com/articles/view/Curmi-and-Partners-appoint-Joseph-F-X-Zahra-as-director.593929|access-date=2021-04-08|website=Times of Malta|language=en-gb}}</ref>


== Biography ==
== Biography ==
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Zahra is also a board member of the Vatican-based ''[[Centesimus Annus Pro Pontifice]]'' Foundation.
Zahra is also a board member of the Vatican-based ''[[Centesimus Annus Pro Pontifice]]'' Foundation.


As president of COSEA, Zahra presented a report with a list of recommendations on ways to make the Vatican and its actions more transparent, simplified and more efficient. In 2015, two former members of the commission were arrested on suspicion of having leaked highly confidential documents.<ref>{{Cite web|title=Joe FX Zahra ‘unwitting protagonist in Vatican scandal’|url=http://www.maltatoday.com.mt/news/national/59313/joe_fx_zahra_unwitting_protagonist_in_vatican_scandal|access-date=2021-04-08|website=MaltaToday.com.mt|language=en}}</ref> The publication of two books featuring the leaked documents created a barrage of negative publicity for these reforms which continued nonetheless as requested by Pope Francis<ref name=":0" />. <ref>{{Cite web|last=University|first=Catholic|title=Vatican Economist Says Reform Must Reflect the Common Good|url=https://communications.catholic.edu//news/2016/02/zahra.html|access-date=2021-04-08|website=The Catholic University of America|language=en}}</ref>
As president of COSEA, Zahra presented a report with a list of recommendations on ways to make the Vatican and its actions more transparent, simplified and more efficient. In 2015, two former members of the commission were arrested on suspicion of having leaked highly confidential documents.<ref>{{Cite web|title=Joe FX Zahra ‘unwitting protagonist in Vatican scandal’|url=http://www.maltatoday.com.mt/news/national/59313/joe_fx_zahra_unwitting_protagonist_in_vatican_scandal|access-date=2021-04-08|website=MaltaToday.com.mt|language=en}}</ref> The publication of two books featuring the leaked documents created a barrage of negative publicity for these reforms which continued nonetheless as requested by Pope Francis<ref name=":0">Vittorio Malagutti e Stefano Vergine, [https://espresso.repubblica.it/inchieste/2017/06/15/news/vaticano-offshore-ecco-la-rete-del-finanziere-di-fiducia-del-papa-1.304356 Vaticano Offshore: ecco la rete del finanziere di fiducia del papa], ''L'Espresso'', 20 June 2017</ref> <ref>{{Cite web|last=University|first=Catholic|title=Vatican Economist Says Reform Must Reflect the Common Good|url=https://communications.catholic.edu//news/2016/02/zahra.html|access-date=2021-04-08|website=The Catholic University of America|language=en}}</ref> Zahra and the roles he occupied with previous organisations was mentioned in the publications and news articles.<ref>{{Cite web|date=2017-06-20|title=Vaticano Offshore: ecco la rete del finanziere di fiducia del papa|url=https://espresso.repubblica.it/inchieste/2017/06/15/news/vaticano-offshore-ecco-la-rete-del-finanziere-di-fiducia-del-papa-1.304356/|access-date=2021-04-08|website=L&apos;Espresso|language=it}}</ref>


In February 2015 Zahra was appointed as vice-coordinator of the Vatican's [[Secretariat for the Economy]], headed by Cardinal [[Reinhard Marx]], and with Monsignor [[Alfred Xuereb]] as first secretary-general.<ref>[http://www.vatican.va/roman_curia/uffici/consiglio-economia/documents/consiglio-per-economia_profilo_it.html Vatican.va], Consiglio per l'economia</ref>
In February 2015 Zahra was appointed as vice-coordinator of the Vatican's [[Secretariat for the Economy]], headed by Cardinal [[Reinhard Marx]], and with Monsignor [[Alfred Xuereb]] as first secretary-general.<ref>[http://www.vatican.va/roman_curia/uffici/consiglio-economia/documents/consiglio-per-economia_profilo_it.html Vatican.va], Consiglio per l'economia</ref>

Revision as of 17:41, 8 April 2021

Joseph F.X. Zahra
Born (1955-12-03) December 3, 1955 (age 68)
Citizenship Malta
Alma materUniversity of Malta
Occupation(s)manager and financier
Political partyNationalist Party

Joseph F.X. Zahra (born December 3, 1955) is a Maltese manager and financier.[1] He has held a number of directorships in both private and public companies in Malta and abroad. He is a former director of the Central Bank of Malta and former chairman of Bank of Valletta plc, Maltacom plc and Middlesea Insurance plc[2]

Biography

Zahra graduated in economics from University of Malta (B.A. 1976, M.A. 1979).[1] He is also a chartered marketer, fellow of the Chartered Institute of Marketing, and member of the UK Market Research Society. Zahra is a fellow member of the Salzburg Seminar on “Technology and Structural Unemployment” (1986). In 2001 he was granted Honorary Lifelong Membership in the Malta Institute of Management.[1]

He is a lecturer of economics at the University of Malta and at the University of Messina. Zahra is also a playwright and the author of a book of verse.[1]

In 1983 Zahra co-founded Misco (partly owned by Ipsos and by Cyprus' Synovate Ltd), of which he became managing director. Zahra is a founding partner and managing director of SurgeAdvisory Limited, a corporate consultancy. He is chairman and member of the audit committee of Birks Group Inc. (jewellery), United Finance plc and Pendergardens plc. He is chairman at Forestals Investments Limited and Multi Risk Limited. Zahra is director and former chairman at Mapfre Middlesea Insurance plc, director at FireGroup SpA (credit recovery), Medserv Malta plc (oil logistics), United Finance plc, Curmi & Partners Limited,[3] Pendergardens Development plc, Multi Risk Insurance plc, Chasophie Group Limited.

His past directorships include Corinthia Hotels International Ltd (2005-2007), Central Bank of Malta (1992-1996), MSV Insurance plc (1998-2014) and Malta Development Corporation (1995-1996).[1]

Zahra is a former chairman of Bank of Valletta (1998-2004), Mediterranean Bank Network (1999), Maltacom plc (2003), Malta Council for Culture and Arts (2002-2003), and National Higher Education Commission (2006-2008). He was appointed by then Prime Minister of Malta Lawrence Gonzi to chair the National Euro Changeover Committee to introduce the Euro currency in Malta.[1]

In 2006, the Malta Society for Manufacturers and the Arts granted Zahra the Gold Medal Award for outstanding achievement in business and the arts.[1]

Zahra is one of the five members on the International Audit Committee of the Holy See and the Vatican State.[4] In July 2013, Pope Francis named Zahra the President of the new Pontifical Commission for Reference on the Economic-Administrative Structure of the Holy See (COSEA), chartered to investigate current accounting practices among Vatican offices and bodies and to help devise new strategies for greater fiscal responsibility and transparency.[4][5] Zahra is also a board member of the Vatican-based Centesimus Annus Pro Pontifice Foundation.

As president of COSEA, Zahra presented a report with a list of recommendations on ways to make the Vatican and its actions more transparent, simplified and more efficient. In 2015, two former members of the commission were arrested on suspicion of having leaked highly confidential documents.[6] The publication of two books featuring the leaked documents created a barrage of negative publicity for these reforms which continued nonetheless as requested by Pope Francis[7] [8] Zahra and the roles he occupied with previous organisations was mentioned in the publications and news articles.[9]

In February 2015 Zahra was appointed as vice-coordinator of the Vatican's Secretariat for the Economy, headed by Cardinal Reinhard Marx, and with Monsignor Alfred Xuereb as first secretary-general.[10]

In April 2016 Zahra resigned from the board of online Nemea Bank after the European Central Bank restricted its activities and appointed an administrator. The banks directors included Zahra, former PM Lawrence Gonzi, and the bank's two founders from Finland, Heikki Niemelä and Mika Lehto.[11] Upon proposal of the Malta Financial Services Authority, the European Central Bank withdrew Nemea's banking license in March 2017.[12]

He is married with two children.

Publications

  • Zahra J.F.X., Towards Reforming the International Financial and Monetary System, Pontificial Council for Justice and Peace DISCERN, 2012, P. 8-19.
  • Zahra J.F.X., Portraying Giorgio Borg Olivier's Political and Economic Vision - Still a Modern Foresight in Today's Economic Reality Address by Joseph F.X. Zahra, PN Press, 2009.
  • Zahra J.F.X., The Sustainability of Malta's Social Security System: A glimpse at Malta's Welfare State and Suggestions for a Revised Change of Policy, The Today Public Policy Institute, 2009.
  • Zahra J.F.X., Lessons from the Asian crisis: Turning uncertainty into Market Advantage. Globalisation policies, strategies & partnerships, Commonwealth Business Forum, Edited Papers, Commonwealth Business Council, 2000.

References

  1. ^ a b c d e f g Rudolf, Uwe Jens; Berg, Warren G. (2010). Historical Dictionary of Malta. Scarecrow Press. p. 242. ISBN 9780810873902.
  2. ^ "Curmi and Partners appoint Joseph F.X. Zahra as director". Times of Malta. Retrieved 2021-04-08.
  3. ^ Times of Malta, Nov 2015
  4. ^ a b Glatz, Carol (July 19, 2013). "Pope creates body to revamp Vatican's bookkeeping, fiscal responsibility". Catholic News Service. Archived from the original on July 19, 2013. Retrieved 2013-07-21.
  5. ^ Malta Independent
  6. ^ "Joe FX Zahra 'unwitting protagonist in Vatican scandal'". MaltaToday.com.mt. Retrieved 2021-04-08.
  7. ^ Vittorio Malagutti e Stefano Vergine, Vaticano Offshore: ecco la rete del finanziere di fiducia del papa, L'Espresso, 20 June 2017
  8. ^ University, Catholic. "Vatican Economist Says Reform Must Reflect the Common Good". The Catholic University of America. Retrieved 2021-04-08.
  9. ^ "Vaticano Offshore: ecco la rete del finanziere di fiducia del papa". L'Espresso (in Italian). 2017-06-20. Retrieved 2021-04-08.
  10. ^ Vatican.va, Consiglio per l'economia
  11. ^ TVM, April 2016
  12. ^ "Nemea Bank loses its banking licence". Times of Malta. March 24, 2017. Retrieved March 24, 2017
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