Central Bank of Malta
The Central Bank of Malta (Bank Ċentrali ta’ Malta) issued the Maltese lira banknotes used before Malta’s adoption of the euro in 2008, including the fifth series introduced in 1989.
Quick Facts
Institutional Identity
Malta’s monetary history is defined by a clear transition from the Maltese Pound (used until 1972) to the Maltese lira, creating two distinct collecting eras. Early pound issues featuring Queen Elizabeth II represent the island’s final colonial chapter, while the lira marks a period of strong national identity and exceptional monetary stability. At its peak, the lira ranked among the highest-valued currencies in Europe—often exceeding the British pound in nominal strength.
Historical Evolution
The Central Bank of Malta’s banknote issues developed through five series, introduced in 1968, 1973, 1979, 1986 and 1989. The fifth series entered circulation on 18 September 1989 with denominations of 2, 5, 10 and 20 liri. Their shared front design depicts a female figure representing Malta and holding a rudder, while red, blue, green and brown distinguish the four denominations respectively. These were Malta’s final national banknotes before the euro. Both currencies could be used for cash payments during January 2008; the lira banknotes ceased to be legal tender after 31 January 2008.
Design Philosophy
Produced by leading security printer De La Rue, Maltese banknotes are recognised for their exceptional print quality, deep intaglio relief and unusually strong multitone watermarks on thick, durable paper.
For collectors
For collectors, Malta represents a niche European field, combining high nominal value with strong design coherence. The combination of pre-euro finality, iconic Mediterranean motifs and premium production standards positions Maltese lira banknotes as a refined segment of European numismatics.