OMNL

Central Bank of the Order of Malta

Mandate, objectives and functions.

Organisation Mondiale du Numérique L.P.B.C. is the central monetary and financial institution of the Order of Malta.

Mandate

A stable, credible, secure and resilient monetary framework.

OMNL is established to safeguard monetary and financial stability within the institutional monetary framework entrusted to it; preserve confidence in that framework; maintain sound and resilient monetary infrastructure; and exercise central banking responsibilities conferred upon it by its constituent instruments and applicable law.

The Bank's monetary and financial operations are supported by DBIS, the institutional and technological infrastructure through which authorised central banking, monetary, reserve, treasury, payment, settlement, reporting and control functions may be executed.

1. Mandate

Institutional responsibilities

OMNL's mandate is to establish, administer and protect a stable, credible, secure and resilient monetary and financial framework for the Order of Malta.

Stability

Maintain monetary stability, safeguard confidence in the monetary system and contribute to financial stability.

Infrastructure

Maintain appropriate monetary and reserve arrangements, provide secure monetary infrastructure through DBIS and support safe payments, clearing and settlement.

Integrity

Preserve the integrity and resilience of central banking operations while maintaining sound governance, compliance and risk management.

Analysis

Maintain monetary, economic and financial statistics and conduct appropriate research and analysis.

2. Primary objective

OMNL's primary objective is the maintenance of monetary stability and confidence in the monetary framework entrusted to the Bank. Where implementation occurs through DBIS, monetary authority remains with OMNL's duly authorised decision-making bodies.

3. Financial stability

Without prejudice to its primary objective, OMNL contributes to orderly functioning of the financial framework by assessing liquidity, reserve adequacy, counterparty exposure, concentration, interconnected exposures, payment and settlement risk, operational disruption, cybersecurity, market disruption and emerging systemic risks.

4. Monetary policy

Subject to applicable authority, OMNL may establish monetary-policy objectives, instruments, liquidity management, eligible counterparties and collateral, standing facilities, reserve requirements, authorised foreign-exchange operations and communications for material policy decisions.

5. DBIS

DBIS supports monetary and reserve ledgers, institutional accounts, monetary issuance records, GRU infrastructure, treasury, payments, clearing, settlement, liquidity facilities, foreign exchange, conversion, reconciliation, counterparty administration, compliance, risk, accounting, statistics, cybersecurity, authorisation and connectivity.

6. Monetary units and GRU

Lifecycle and separation of monetary instruments

Where legally authorised, OMNL may establish, issue, administer or support monetary units, settlement assets or digital monetary instruments. The governing framework shall address issuance, attribution, reserve treatment, circulation, transfer, settlement, conversion, redemption and retirement.

Where applicable, the GRU shall be administered within OMNL's monetary framework and supported technologically through DBIS. Appropriate distinctions shall be maintained between central-bank monetary liabilities, reserve assets, settlement assets, institutional balances, participant assets and privately issued financial instruments.

7. Reserve and treasury management

OMNL maintains a reserve-management framework guided by security, liquidity, capital preservation, diversification and appropriate risk-adjusted return. Policies govern eligible assets, allocation, custody, liquidity, concentration, counterparty exposure, valuation, accounting and risk limits.

8. Payments, clearing and settlement

Where authorised, OMNL may operate settlement infrastructure, maintain settlement accounts, establish participation requirements, provide settlement assets, establish technical standards, facilitate authorised transactions, establish settlement-finality procedures and administer reconciliation.

9. Central banking services

Subject to legal authority, OMNL may provide services to eligible institutional counterparties, including institutional, reserve and settlement accounts, custody, payments, settlement, liquidity facilities, foreign exchange and reserve-management services. These activities remain distinct from ordinary commercial banking.

10. Liquidity and exceptional operations

Where expressly authorised, OMNL may establish facilities addressing exceptional liquidity conditions or material threats to monetary or financial stability under predefined legal authority, eligibility, approval, collateral, valuation, exposure, risk and reporting requirements.

11. Financial integrity and compliance

OMNL maintains safeguards covering AML, CFT, sanctions, KYC/KYB, counterparty due diligence, transaction monitoring, anti-fraud, anti-corruption, cybersecurity, information security, data protection and operational risk. DBIS supports these through permissions, monitoring, data controls and auditability.

12. Statistics and analysis

OMNL may collect, compile, analyse and publish information relating to monetary conditions, its balance sheet, monetary aggregates, reserves, liquidity, settlement activity, GRU activity, conversion activity, financial-system indicators and other relevant economic measures.

13-18. Governance and accountability

Independence, transparency, audit and resilience

OMNL shall exercise its responsibilities independently within lawful authority. Its governance framework shall establish decision-making bodies, monetary-policy authority, reserve authority, delegated authorities, executive responsibilities, DBIS authorisation hierarchies, financial controls, risk-management responsibilities, conflicts-of-interest requirements, audit and reporting obligations.

Subject to legitimate confidentiality and security considerations, OMNL shall seek to publish appropriate governing documents, mandate information, monetary-policy decisions, methodologies, statistics, reserve information, financial statements, annual reports, audit information, public notices and institutional policies.

OMNL shall maintain effective accounting, controls, internal audit, independent external audit, enterprise risk, balance-sheet risk, operational risk, cybersecurity assurance, business continuity and disaster recovery. DBIS and critical infrastructure shall be subject to identity and access management, multi-level authorisation, cryptographic protection, transaction authentication, monitoring, redundancy, backup, incident response and independent security assurance.

19-20. Institutional principles and public commitment

Integrity governs both the mandate and infrastructure.

OMNL provides a monetary and financial foundation intended to support the wider institutional mission of the Order of Malta. The humanitarian, medical, social and development objectives associated with the Hospitaller mission do not displace OMNL's responsibility for monetary discipline, financial integrity, reserve protection, institutional independence and responsible governance.

Organisation Mondiale du Numérique L.P.B.C. is committed to exercising every central banking responsibility entrusted to it with discipline, independence, transparency and accountability.