The church and banking

The article by Fr René Camilleri about the big issue of the church’s involvement in banking is important. But inevitably it only submits to the readers’ attention a viewpoint that is only related to theology, and not to other elements of the topic.

Of course the Scriptures themselves speak clearly about Christ’s position on money and its characteristics and ilk. Suffice the narrative of the Lord absolutely getting rightly ferocious about those businessmen and money brokers in the Holy Temple who obscenely turned the place into “a den of thieves”.

But banking history tells us also much more. Churches everywhere have had these close relationships with banks and investment institutions for as long as time can recall.

Even the Ming and other dynasties in old China had religious groups investing and dealing with money and its making.  Closer to our own times the vicende of the Vatican’s Istituto per le Opere di Religione will of course never drop out of the history books.

As for the local APS Bank specifically, a careful read of my colleague Joseph F. Grima’s excellent book on the history of the Apostleship of Prayer devotion (originally a Jesuit inspired devotion) and the APS Bank more specifically, will show how indeed complicated and problematic can be all consideration of what should really be the church’s position in such situations. Can, or should, one negatively criticise the various popes’ pronouncements on this subject?

In pure financial tactical terms can one imagine a situation where investors (be they individuals, corporates of any sort, government entities, NGOs, even religious entities of any sort or form) not have any form of ownership, or be ultimate beneficial owners in some form, in banks? Even the Vatican would probably say no to that.

Of course, in pure non-religious terms, any possible buyout by the local APS of the present holding by HSBC international in HSBC Bank Malta plc does at first glance suggest that the figures simply do not add up to any sensible deal. The seller is a monolith: the buyer a pygmy in numerical terms…

John Consiglio – Birkirkara

Mater Dei outpatients

A PA computer-generated render of the proposed outpatients block at Mater Dei that has now been shelved. Photo: PA

One item in your leader on healthcare mismanagement (September 28) focused on the money misspent on planning and then ditching the planned new Mater Dei Hospital outpatients’ block.

What this outpatients department needs to improve its waiting list record is not a new building but for the department to work both in the mornings and afternoons like every other hospital in Europe.

Because the health department’s senior medical staff have maintained their insistence on a 40-hour week worked via a theoretical 7.30am to 2.30pm hospital attendance, their outpatients department can only deliver a half-day service, even after the tax-payers spent so much money on a new hospital. 

Compared to 20 to 30 years ago, the number of senior medical staff and their remuneration is beyond recognition, and there is no longer any excuse for running archaic half-day services.

Albert Cilia-Vincenti – Attard