The Maltese lira (MTL), or pound, was the official currency of Malta until the introduction of the euro. Malta joined the European Union in May 2004 and the European Monetary Union in January 2008.
During its circulation, the Maltese lira was divided into 1000 "mils" or 100 "cents".
The Central Bank of Malta is the institution responsible for managing monetary policy and supervising the country's financial system.